Aamal Company, one of the region’s leading and fastest-growing diversified businesses, announced through its subsidiary, Aamal Real Estate, the signing of an agreement to acquire the Golden (Aamal) Tower located in the Ain Khaled area of Doha for a total consideration of QAR 478.4 million.

The purchase price was based on an independent valuation conducted by Cushman & Wakefield Qatar, an accredited valuation firm. The tower is currently owned by Al Jazi Real Estate Investment, a related party.

Golden (Aamal) Tower consists of 32 floors, with commercial units spanning from the 1st to the 15th floor, and 72 residential units from the 16th to the 32nd floor. It also includes three underground levels with 341 parking spaces. Strategically located in a high-demand area, the property enjoys an 88% occupancy rate, reflecting its strong tenant appeal.

This acquisition aligns with Aamal’s strategic focus on expanding its portfolio of income-generating assets. The tower is expected to generate approximately QAR 20 million in annual revenue, with an anticipated yearly growth rate of 3%–5%. The transaction will be fully financed through bank facilities.

The company aims to consolidate several of its subsidiaries under one roof, reducing rental expenses, enhancing operational efficiency, and increasing long-term shareholder value.

Commenting on the acquisition, Mr. Rashed bin Ali Al Mansoori, CEO of Aamal Company, said:

"This acquisition supports our strategy of expanding our real estate portfolio with high-quality, income-generating assets in prime locations. Golden (Aamal) Tower offers long-term value through stable rental yields and operational efficiency. By consolidating group companies under one roof, we reaffirm our commitment to sustainable growth, cost optimization, and value creation for shareholders."