Qatar First Bank successfully completes two equity investments exits

In line with its strategy to further strengthen its liquidity provision, the Bank has successfully exited its equity investments in Al Rifai International Holding (ARIH) and Food Services Company (FSC)

Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the Qatar Financial Center Regulatory Authority (QFCRA), and a listed entity on the Qatar Stock Exchange (QSE: QFBQ), has announced two new successful exists from its equity investments in Al Rifai International Holding (ARIH) and Food Services Company (FSC). The Bank achieved positive returns and attractive IRR on both exits.

The two new equity investment exists are in line with the Bank’s strategy to ensure an optimum value from its private equity portfolio in Qatar and the region, while continuously seizing timely opportunities that guarantee substantial gains and a high return on investment.

In addition to maximizing shareholders and clients’ returns, the two successful exits have boosted the Bank’s capabilities to reinvest proceeds in new and promising investment opportunities that ensure further consistency of the Bank’s overall portfolio returns in local, regional, and global markets.

ARIH a Lebanese based multinational retailer of premium quality nuts, traditional confectionary, and delicacies across 45 countries, ARIH marked QFB’s debut investment venture in the food and beverage manufacturing industry when the Bank acquired 15% stake in the company in 2011. The Bank later raised its shares in the company to 31.% in 2012. Since the acquisition, ARIH has emerged as a household name for nuts and snacks not only in the GCC, but also globally on the back of its strategic alliances with global FMCG players, distribution channels and duty-free operating partners.

In 2014, QFB invested a 49% stake in FSC, the leading Qatari Food & Beverages Company that operates a 16-branch network of 5 brands including Opera Patisserie, Opera Café, Opera Catering, Take Away and Kanafaji. The company has since emerged from a midsize catering and restaurant business to an operator of a successful chain of restaurants and cafes spread across Qatar, along with providing exceptional catering for social and corporate events.

Mr. Suhaib AlMabrouk, QFB’ Head of Private Equity & Corporate Banking said: “We are pleased to once again achieve significant milestone through the exit of two of our legacy investments in the food and beverages industry in Qatar and the region.”

Thanks to our innovative business approach, we have contributed to the modernization and growth of the two companies, whilst increasing our returns attributed to our clients and investors over the past few years. I would like to congratulate all our investors on the conclusion of the new deals, and to reiterate our commitment to offering seamless investment opportunities with stable returns in Qatar and beyond.

The QFB achieved returns from exiting its equity investments in ARIH and FSC is a testament to the success of our investment strategy. We will continue offering investors the best and most profitable Shari’ah compliant investment opportunities, whilst remaining the investment partner of choice for both our existing and potential clients in Qatar, the region and around the world.” concluded Mr. Suhaib.

Earlier this year, Qatar First Bank announced its successful exit from a USD 31.5 million equity investment in CMRC Limited, from which the Bank achieved an internal rate of return of 19%.

Qatar First Bank Acquires Phase 1 of a Healthcare Technology Company Headquarters in Ohio

The new acquisition marks Qatar First Bank’s 7th investment in the Unites States, and confirms the Bank’s commitment to increasing its presence in the American real estate market as part of its investment diversification strategy.

Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE: QFBQ) has announced the acquisition of phase 1 of Healthcare technology company Headquarters in Columbus, Ohio in the USA.

The new acquisition marks QFB’s 7th sharia compliant real estate investment in the Unites States and comes as a significant addition to the Bank’s presence in the US real estate market following QFB’s latest acquisitions of 90 North Campus (T-Mobile) building in Washington, BSN Sports HQ building (Varsity Brands) in Texas, The Grand 2 at Papago Park Center in Arizona, and Waterway Plaza I in Texas.

The newly acquired property is a fully built-to-suit 218,000 square foot trophy office building completed in 2021 with 100% leased on a 10-year NNN lease.  The QFB-acquired building will serve as the first phase of the corporate campus for Healthcare technology company, with the second phase planned to be completed by the fourth quarter of 2022.

Commenting on the new acquisition, Mr. Ayman Zaidan – Deputy CEO and Chief Investment Officer at QFB, said:

“I am delighted to see QFB expands its footprint in the US real estate market and to see the Bank getting recognized on the international scene as a credible and reputable outfit operating on par with other players. QFB’s reputation is in the US real estate market with brokers and our partners is increasingly that of a bank that commits to buy when it pursues deals and delivers on its promises. Thanks to  the whole team at QFB and all of our partners who work tirelessly to make our long-term business strategy a reality. This particular addition is spectacular and will enhance QFB’s structured investment offering to its investors.”

Mr. Alexandre Bernassau, QFB’s Head of Investment added:  

“The acquisition of this trophy asset is a landmark deal for QFB and an architectural landmark as well for the city of Columbus, Ohio. It is one amazing addition of which I am particularly proud and one that will further cement the Bank’s reputation as an international level playing actor on the US real estate investment scene. Like QFB’s other buildings, all of which serve as Headquarters for their tenants, this first phase of the campus is a fantastic addition to our sharia-compliant real estate investment portfolio providing investors (and the Bank) with stable cash flows and recurring dividends.”

QFB will continue to source diligently and to hand pick what the bank believes to be some of the most profitable investment opportunities in the US and beyond.  QFB aims to remain the leading sharia-compliant investment partner for local and regional investors wishing to invest internationally and domestically.

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