Oil and gas sector deal 'likely' in Q1, real estate and healthcare to follow.
Qatar First Investment Bank, founded in 2008 with $1 billion of capital, plans to invest as much as $250 million this year in areas including oil, gas, real estate and health care, its deputy chief executive officer said.
The company, which acquired a 41 percent stake in Qatar Engineering and Construction Co and 71 percent of Emirates National Factory for Plastic Industries as it invested $200 million in 2009, is focusing on Turkey, the Middle East and North Africa, Emad Mansour said in an interview.
Speaking in Doha on Tuesday, Manour added: “It is likely we will do an oil and gas sector deal in the first quarter.”
Future investments may include a real estate project in Iraq’s northern Kurdish region, and the company’s other areas of interest include industry and commercial services.
Investment banks established over the past three years in Qatar, including QFIB and QInvest, are drawing on a growing pool of Middle Eastern investors after the region benefited from an oil price gain of 60 percent in the past five years.
About 60 percent of QFIB’s 1,065 shareholders are Qatari and 40 percent are from countries in the Gulf Cooperation Council.
QFIB plans to hold about 15 percent to 20 percent of the companies it invests in for about three to five years, Mansour said.
It also aims to sell about $100 million of shares in its investments this year.