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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Qatar steps in with $7.1bln support for property firm

Posted on 10 June 2013

Qatar Diar, the real estate arm of the Gulf state’s sovereign wealth fund, owns 45 per cent of Barwa. Qatar stepped in with $7.1 billion of financial support for its ailing property firm Barwa Real Estate on Thursday, buying some key assets to help the company reduce its debt pile.
Qatar Diar, the real estate arm of the Gulf state’s sovereign wealth fund, owns 45 per cent of Barwa, according to Reuters data and is stepping in after Barwa notched up liabilities of about 37 billion riyals ($10.16 billion) at the end of 2012 due to overexpansion. Its profit plunged 46 per cent in the first quarter………………………………………..Full Article: Source


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