Barwa Real Estate Signs QR 310M Financing Agreement

Thursday, 19th May 2016

Barwa Real Estate, a Qatar-based real estate company, signed financing agreements worth QR 310 million ($1.13 billion) with a local bank, of which it has not shared its name, reported Arabian Business.

The newly signed 9 year facility signifies an end to all of Barwa’s financing liabilities, according to Reuters.

The company’s Q1 results revealed net profit of QR 651 million ($178.2 million) in 2016, compared to QR 3,255 million ($894 million) the previous year – an 80% drop in profits.

Barwa announced earlier in March its plan to develop new projects, mainly Dara A project in Lusail, phase one of Madinat Al Mawater Project, phase one of Mustawdaat project and the extension of Barwa Village project, among others, according to Construction Week Online.

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