Barwa Real estate to sell project to Qatari Diar for $2 bln
The deal is part of an agreement by Barwa to sell assets worth a $7.1 billion to Qatari Diar
Qatar's struggling property developer Barwa Real Estate said on Wednesday that it was selling Barwa City project to the property arm of the country's sovereign wealth for 7.57 billion riyals ($2.08 billion).
The deal is part of an agreement by Barwa to sell assets worth a $7.1 billion to Qatari Diar, which was announced in June last year.
Barwa City project would be sold to Labregah Real Estate Company, a wholly-owned subsidiary of Qatari Diar, the developer said in a statement on Qatar's bourse.
Qatar’s Barwa Real Estate posts 27.3% profit riseBarwa agreed a $7.1bn financial assistance package with state real estate firm Qatari Diar in June Property
Profits fall 40% at Qatar’s bailed-out Barwa Real EstateStruggling Qatari property firm Barwa Real Estate, given $7.1 billion in support by the state in June, posted a 40 percent drop in net profit for the ... Property
Qatar’s Barwa plans $5.5bn island to house World Cup fansQatar unveiled plans on Monday to build a $5.5 billion island off the coast of Doha with floating hotels to house soccer fans expected to flock to the ... Property