Three Years of Excellence for Qetaifan Projects!

 

Despite All Obstacles, There Have Been Numerous Accomplishments

/ Qetaifan Projects, the firm completely owned by Katara Hospitality and the exclusive real estate developer of Qetaifan Island North, is celebrating its three-year anniversary and has seen rapid expansion and progress. It's worth mentioning that, despite the epidemic, Qetaifan Projects was able to adapt to challenges and turn them into opportunities last year. Qetaifan Island North did not stray from its timeline or have any operational delays. Instead, Qetaifan Projects formed a committee led by His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, Managing Director of Qetaifan Projects, to manage and overcome the crisis without disrupting the company's operations, with over 6000 workers on-site working around the clock under the supervision of five main contractors. The Managing Director of Qetaifan Projects, His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, stated, "It's difficult to go to the top, but it's much more difficult to stay there. This necessitates not only everyone working as one team, but also everyone working to establish team spirit as a principle and consider it as a starting point for understanding strengths and investing in them appropriately and timely, identifying weaknesses to avoid them, exploiting strengths to mitigate the impact of weaknesses, and working in harmony and unity, each in his area of expertise." houses for sale

It's worth noting that Qetaifan Projects formed multiple global alliances in 2020 and received a number of international honors, including Global Business Outlook's award for "The Best Real Estate Development Company in Qatar 2020." His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani stated in this regard, "By receiving this honor, I think our efforts have paid off. More than merely development, Qetaifan Projects seeks to create a win-win situation for all of its stakeholders by fostering trust and transparency. Qetaifan Island North is a well-thought-out project that will benefit the nation and meet end-user needs beyond 2022. It's a project that combines luxury and entertainment, striking a balance between living and playing. This project had to deal with all of the expected and unexpected problems, including a tight timetable, limited resources, and a limited budget, as well as a blockade and the COVID-19 pandemic. It's a well-deserved accomplishment, and we're honored to be recognized by Global Business Outlook." Castellum has owned the property since Norrporten was purchased, and it has provided a respectable return over the last five years. We've decided to sell the building and invest in other office and logistics properties through fresh production and acquisitions when the site becomes almost fully unoccupied. Henrik Saxborn, CEO of Castellum, states, "Our ambition to grow in the Nordic region and rising areas like Copenhagen remains unaltered."

Castellum is a major player in the Nordic region's office and warehousing/logistics markets. Office and logistics properties totaling DKK 4 billion remain in the Copenhagen portfolio.

In a nutshell, the business

Castellum sells the Kay Fiskers Plads 9-11, 2300, Copenhagen S property.

After deferred tax and around DKK 45 million in expenditures, the net sales price is DKK 778 million.

1 July 2021 is the deadline for resigning.

DKK 65 million (about) in rental value

Approximately 34% occupancy percentage is considered to be economical.

Total lettable space (including garage): 32,477 sqm

2300 Copenhagen S, Kay Fiskers Plads 9 and 11.

Genesta is the buyer (GNRE Fund lllDenmark BidCo lApS)

Castellum's Background

With a property value of SEK 103 billion, Castellum is one of the Nordic region's largest publicly traded real estate corporations. We work in 14 Swedish growth zones, as well as Copenhagen and Helsinki. Every day, 250,000 individuals come to our offices to work. With a total lettable space of 4.4 million square meters, we create flexible workplaces and logistics solutions. One of our long-term sustainability goals is to be carbon-neutral by 2030. The Dow Jones Sustainability Index has chosen Castellum as the sole Nordic real estate company (DJSI). Castellum's stock is traded on the Nasdaq Stockholm Large Cap exchange.