03.12.2014 - Qatar’s Barwa Signs Deal To Sell Land Plots For $1.47bn
Qatar’s Barwa Real Estate has signed a deal to sell two plots of land for a combined QAR5.34 billion ($1.47 billion) to an unidentified buyer, the company said on Tuesday. Qatar’s government owns a 45 per cent stake in Barwa, according to Reuters data. In October, the developer said it would sell land worth QAR2.54 billion ($697.4 million) to the government. Qatari Diar, the real estate arm of Qatar’s sovereign wealth fund, stepped in with financial aid last year, agreeing to buy some of Barwa’s assets for $7.1 billion. In June this year, Barwa said it was selling a 95 per cent stake in Barwa Commercial Avenue Co to Qatari Diar for QAR9 billion...............................................Full Article: Source
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