The Business of…2010’s best companies
Business has been bad in 2010, but not for all. Kipp looks at the year’s business success stories, from Dubai’s online retail scene to pretty much anything in Qatar.
December 28, 2010 12:34 by shafeer
Though it may be in the limelight for winning the right to host the FIFA World Cup 2022, Qatar has also been enjoying some exceptional business this year. Here is just a peak at what the country’s businesses have been up to in 2010:
Qatar Holding, the strategic investment arm of Qatar Investment Authority (QIA), signed off on a Dh.9.9 billion deal in which they secured a 5 percent stake in the Brazilian banking unit of Spain’s Banco Santander. Banco Santander is not the first bank Qatar Holding has invested in; this July it bought a more than $2.8bn stake of the Agricultural Bank of China. Also worth mentioning: 2010 saw Qatar Holding acquire Harrods and form part of the deal that bought Walt’ Disney’s subsidiary Miramax.
Qatari Diar announced this quarter the signing of an $80 million deal to build a tourism complex in Tozeur, a city in southern Tunisia. The complex, which is said to include a hotel and a shopping mall, will be completed within two years. It also managed to put the bitter Chelsea Barracks dispute behind it.
Mazaya Qatar Real Estate Development signed a Dh1 billion deal to develop and manage the Marina Mall in Lusail, Doha. The two floored Marina Mall will be strategically located amongst the Ne Marina and yacht club and will be surrounded by hotels, offices, commercial units, a cinema and an aquarium.