Qatar’s Barwa Real Estate Buys Saudi Land for $175.8 M

Thursday, 4th August 2016

Qatar’s Barwa for Real Estate, one of the Gulf Arab state’s major developers stated that it purchased a vacant plot land in Riyadh, Saudi Arabia worth of 659.28 million Riyals which is equivalent to $175.8 million, Gulf Business reported.

The plot measured 2.22 million square meters, however, its seller is unknown. The real estate company mentioned the this was part of Barwa’s essential plan in discovering investment options in Saudi Arabia.

The project is said to be dedicated to commercial and residential purposes, reported Reuters.

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