Nasser Bin Khalid Group appoints Amwal as Financial Advisor for Al Waab City Project

Commenting on the agreement, HE Sheikh Nawaf bin Nasser Al Thani, president of NBK Group said: "We are looking to build a unique city within the city of Doha. To achieve that we have brought together the best global talent and the most experienced teams in place. These include HOK, the world's largest and most diversified design practice in the world, Cansult Ltd., the leading Canadian project management practice in the Gulf and Amwal, the leading investment banking firm in Qatar who will advise on the financial structure of the project."

"Amwal's selection is due to its track record and credible reputation in investment advisory in Qatar and in the region," he added.

HE Sheikha Hanadi bint Nasser Al Thani, Deputy CEO of NBK Group and CEO of the Al Waab Project, said: The Al Waab project will conform to international standards and state-of-the-art property development practice. This world-class city within a city will cater to the needs of the national and expatriate communities living in Qatar and raise their expectations to high international standards."

"With an investment of over US$1 billion, the Al Waab City will integrate a variety of housing types, small and large scale retail, offices, health facilities, a cultural center and a world class hotel. For the first time, people in Doha will have the choice to live in an environment which is virtually self-sufficient in services, amenities, recreation, culture and entertainment."

Khaled Hassan Rashed, Director of Amwal commented: "We are hounored to receive NBK's mandate to advise them on the funding structure of Al Waab City, a remarkable project in Qatar."

"We are delighted to be part of Al Waab team and to work closely with one of Qatar's most prestigious business conglomerates. We envision Al Waab to become Qatar's real-estate landmark," added Mr. Rashed. "Such a unique and massive project would need a very innovative funding structure; Amwal is confident of its ability to advise on such structure that would satisfy project requirements, provide investment opportunities for Qatari investors and would attract international funding which would boost the Foreign Direct investment in Qatar." Concluded Mr. Rashed.