Qatar First Bank (QFB) completed its first in a while acquisition of Waterway Plaza I, a class A+ office tower spanning more than 223,000 square foot located in suburban Houston, Texas, USA. This was shortly after the bank acquired the Lulu Al Messila Hypermarket in Qatar. 

QFB ever-growing income-generating real estate portfolio has opened up to client investment. Waterway Plaza I has already attracted large commitments from the bank’s trusted customer base. The investment subscription will remain open until March. 

Waterway Plaza I is located in Woodlands, the most desirable suburban area of Huston. A  testament to its architectural merits and spectacular design, the office tower was awarded the 2012 TOBY (The Outstanding Building of the Year) award for best mid-rise.

The glass and aluminium façade of the 9-storey property offers an incredible panorama of the Woodlands Town Center and its penthouse with full-height glazing was designed to maximize the views of the water canal, offering an expansive vista of Woodlands Waterway and its wooded surroundings.

Huntsman, one of the leading US marketer of performance products and adhesives, counts among its customers the likes of BMW, Procter & Gamble and Unilever.

On the acquisition, Sheikh Faisal bin Thani al-Thani, chairman of the board said, “I am happy to see QFB’s offering getting some traction. In 2020 we planted the seeds of the turn-around strategy. It was a test year for the bank and I think we succeeded. In 2021, it’s time to be more proactive. It’s time for QFB to accelerate a bit and to present more opportunities to the market”

QFB continues to handpick the best income-generating investments to offer its trusted personal clients international opportunities usually only accessible to select institutional investors. These investments are available through a Shariah-compliant platform.

Abdulrahman Totonji, Acting Chief Executive Officer said, “Another acquisition and another success I predict for the bank and our customers. We already have syndicated a good portion of the offering only relying on word of mouth. All of this within a few days of the New Year and before going officially to market. We spend sleepless nights securing what we believe are the very best investments offered in Qatar, and it’s good to see our efforts being recognized. We take our fiduciary duty towards our clients very seriously, we have a vision and the bank is working tirelessly to make it a reality.”

This investment opportunity is offered on a private placement basis to “Qualified Investors” meeting the investment eligibility requirements in accordance with the rules and regulatory requirements of the QFC Regulatory Authority (QFCRA).