Qatar Exchange | Qatar General Insurance and Reinsurance Co. | HOTEL APARTMENTS MANAGEMENT AND OPERATIONS AGREEMENT SIGNED BY AND BETWEEN MOZOON REAL ESTATE COMPANY WLL AND RETAJ HOTELS & HOSPITALITY WLL

Qatar General Insurance and Reinsurance Company Q.P.S.C. announces that the Hotel Apartments Management and Operations Agreement and Technical Services Agreement signed on 7th March 2018 by and between Mozoon Real Estate Company WLL (indirectly owned by QGIRCO at 50% shareholding via Qatar General Holding WLL - the other 50٪ is owned by Al Sari Trading Company WLL) and Retaj Hotels & Hospitality WLL for Tower “C” of the “Mozoon Towers” Project, is for a term of twenty-five years, renewable for another ten years period. The annual forecasted revenue of Mozoon Real Estate Company WLL for operating Tower “C” amounts to QR /100,000,000/ (One Hundred Million Qatari Riyal) per annum, according to the studies prepared by Retaj Hotels & Hospitality WLL for the Tower “C”.