Mazaya, Mackeen agree to merge

February 4, 2014 10:07 am

Qatar’s Mazaya Qatar Real Estate Development and Mackeen Holding have announced their plan to merge, the Peninsula has reported. The two firms informed the country’s bourse of the decision after talks and said they agreed to the entrust an assessor to evaluate the assets of the two companies ahead of submitting the details to the general assembly to make a final decision on the merger. “The merger is based on the conviction of the two companies to build a strong entity qualified to perform and contribute effectively to the development of the national economy by deploying strategic resources, expertise and human resources,” said Mazaya chairman, Rashid bin Fahad Al Nuaimi.