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FINANCIAL NEWS
Barwa to sell land for USD697m
02 Oct 2014
(MENAFN) Qatar’s Barwa Real Estate announced it is planning to sell a land worth USD697.4 million to the government, Gulf Daily News reported.
For the piece of land, located in Lusail City and which size was not disclosed, Barwa will get 277.19 million in cash, while the rest of the money would come in payments.
The company, which has been struggling with its debt burden despite the huge building and construction increase in the Gulf state, said that this deal would help it deal with its financial issues, added with the USD7.1 billion the company got by selling some of its assets to Qatari Diar.
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