Qatari Diar to Own Seef Lusail Real Estate Development

Qatar-based Masraf Al Rayan is selling its 50% stake in Seef Lusail Real Estate Development Company to its joint venture partner which is a unit of Qatari Diar. The remaining 1% was sold to Qatari Diar Real Estate Investment Company. Masraf Al Rayan, Qatar’s largest Islamic bank by market value, had owned the development equally with Qatari Diar Infrastructure Company.

Seef Lusail is a 600,000 square meter mixed-use waterfront development.

Qatari Diar is a sovereign wealth enterprise of the Qatar Investment Authority.

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