Qatar First Bank (QFB) Tuesday announced that it will finance a Qatari consortium of investors that seeks to acquire a 10.8 percent stake in Ennismore, one of the world’s largest and fastest growing lifestyle hospitality companies.
QFB will fund the purchasing consortium’s investment vehicle by providing 20 million Euro of Sharia-compliant financing.
The deal comes at a time when lifestyle segments are demonstrating a stronger performance than the overall market.
“The time is ripe for a bold move into the international hospitality and tourism market that will further cement Qatars strategic place as a key player in this important sector,” QFB CEO Abdulrahman Totonji said. “With the global tourism and lifestyle recovery on track, we are pleased to finance consortium of Qatari investors, who seek to capture a share of the international market and guarantee more diversification.”