OREANDA-NEWS. Following to the news, which was previously published on March 9, 2015 concerning the acquisition of the Oriental Enterprises Company, Qatar General Insurance and Reinsurance announces the completion of the signing of the agreement under which General Real Estate Company, a wholly owned subsidiary of  Qatar General Holding Company , which is wholly owned by  Qatar General Insurance & Reinsurance Company, acquires the entire share capital of Oriental Enterprises Company, however, this agreement entering into force remains subject to the approval of the regulatory authorities, including Qatar Central Bank.
 
Oriental Enterprises Company operating in the field of construction and building materials as well as the maintenance of the buildings was founded in 1999. The company holds an "A" rating in the field of construction works and maintenance of buildings. The Company has completed several projects since its inception varied in terms of type and size of housing projects and other commercial, and employs approximately 500 staff and workers in various disciplines related to the company's work in the field. In addition, the Company has two branches: the first works in the field of formation of rebar and the other works in the field of building insulation.
 
This acquisition is designed to support the company's real estate activities, as well as diversifying the sources of income of the parent company, Qatar General Insurance & Reinsurance.