Qatar’s Ooredoo sets up new unit to manage tower assets

Qatari telecommunications company Ooredoo Group has launched a new company to manage passive tower infrastructure assets in the Gulf state.

Al Abraj, the standalone company, is the first operational carve-out under Ooredoo’s TowerCo initiative, Ooredoo said in a statement.

The new company, led by Khalid Barzak, will manage cell towers, masts, buildings, shelters, power supply systems, battery backups and cooling equipment.

Ooredoo and Kuwait’s Zain Group agreed in December 2023 to create the largest tower company in the Middle East and North Africa, comprising 30,000 telecom towers in Qatar, Kuwait, Jordan, Iraq, Algeria and Tunisia, with an estimated value of $2.2 billion.

In April, Ooredoo said net profit in the first three months of 2026 increased by 5 percent annually to more than QR1 billion ($274 million) after revenue rose 6 percent year on year to QR6 billion, supported by strong contributions from Algeria, Tunisia, Qatar, Iraq and Kuwait.

Its customer base grew by 2 percent year on year to nearly 54 million. The company invested QR608 million in capital expenditure in the first three months, a 13 percent year-on-year increase.

Ooredoo stock, which trades on the Qatar stock exchange, closed 2.6 percent lower at QR13.68 on Thursday. The share is up 5 percent so far this year.

Qatar Holding owns a 68 percent stake in Ooredoo, while Abu Dhabi Investment Authority (Adia) holds a 5 percent stake.

Further reading:

• Ooredoo profit rises to $274m as revenue up 6%
• Qatar’s Ooredoo creates dedicated cable spin-off OFN
• Adia to sell 5% stake in Qatar telco Ooredoo