Lusail: QIIB and Qatari Diar Real Estate Investment Company have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in the field of real estate development and financing, by enabling the bank to provide financing for the purchase of plots in the Huzoom Lusail project, a key real estate development in Lusail City wholly-owned by Qatari Diar, in line with the financing terms and conditions approved by the bank.
According to Qatar News Agency, the MoU was signed by Dr. Abdulbasit Ahmad Al Shaibei, QIIB Chief Executive Officer, and Eng. Ali Mohamed Al Ali, Chief Executive Officer of Qatari Diar, in the presence of senior officials from both sides. This agreement represents an important step in supporting the significant urban development taking place in Lusail City, which has become one of the most prominent residential, commercial, and investment destinations in Qatar, attracting increasing interest from both individuals and companies.
The Huzoom Lusail project is part of Lusail City and is one of the ambitious developments that aligns with Qatar's Vision 2030, which aims to diversify the economy and boost investments in infrastructure and urban development. The MoU also reflects the commitment of both parties to build strategic partnerships that contribute to strengthening the real estate sector as a key pillar of the national economy.
It further highlights QIIB's commitment to financing major development projects and providing real estate solutions tailored to the needs of various customer segments, meeting their housing and investment aspirations. Commenting on the MoU, Dr. Abdulbasit Ahmad Al Shaibei, CEO, QIIB, expressed confidence that this partnership will enhance the range of real estate financing options available to customers seeking to invest in the Huzoom Lusail Project.
Dr. Al Shaibei emphasized that real estate financing is a top priority for QIIB, as it is a key driver of the country's urban renaissance. The bank is keen to provide the best real estate financing products with flexible terms, easy procedures, and extended repayment periods, in alignment with Qatar National Vision 2030 and in support of comprehensive economic development.
He noted that QIIB has developed a wide range of real estate financing solutions that address the needs of both individuals and corporations. The bank consistently innovates in designing these solutions to ensure financial inclusion and accessibility for all customer segments. Expanding partnerships with leading institutions like Qatari Diar reflects QIIB's commitment to empowering customers to seize investment opportunities in Qatar's real estate market under the best possible terms and conditions.
Dr. Al Shaibei concluded by expressing confidence that the Huzoom Lusail Project will be highly attractive to investors due to its prime location and integrated services. QIIB remains committed to providing the best financing facilities that deliver added value to clients and help them achieve their housing and investment ambitions.
Eng. Ali Mohamed Al-Ali, CEO of Qatari Diar, expressed pleasure in signing the MoU with QIIB, an important step in efforts to provide practical financing solutions for purchasing plots in the Huzoom Lusail project. This project is one of Qatari Diar's landmark developments in Lusail City and represents a significant addition to Qatar's real estate sector, as it embodies an integrated model for developing urban communities that combine living, working, and leisure.
Al-Ali is confident that the partnership with QIIB will enhance the project's attractiveness and open new horizons for both local and international investments. Through cooperation with QIIB, Qatari Diar looks forward to enabling customers to seize the investment opportunities offered by the project and benefit from the diverse real estate financing options provided by the bank.