Prominent Qatari investor Lesha Bank has demonstrated impressive financial performance, driven by steady growth within its real estate investment business.
In its latest financial results, the firm reported a 69% increase in income to QR195 million ($53.6 million), while total assets surged by 20% to QR6.3 billion. This growth was propelled by the firm’s strategic focus on acquiring and managing high-quality properties with strong fundamentals and occupancy rates.
Currently, Lesha Bank's real estate portfolio boasts several notable assets in North America, including the 90 North corporate campus in Seattle and the BSN Sports HQ building in Dallas, both contributing to consistent cash yields.
Capitalizing on favourable market conditions, the firm made timely exits from investments such as Jefferson Square in Baltimore and Kennedy Flats in Connecticut. These early exits generated impressive returns, with internal rates of return on the properties exceeding 8% and 9% for investors, respectively.
Lesha Bank has remained committed to property in the Gulf Cooperation Council region, where it expanded its portfolio by acquiring a fully leased residential building in Qatar.