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FINANCIAL NEWS
Qatari Barwa acquires 50 percent stake in Lusail Golf development
04 Nov 2014
(MENAFN) Barwa Real Estate, Qatar’s largest developer, announced it has acquired a 50 percent stake in Lusail Golf Development for USD681.08 million, Arabian Business reported.
Barwa, which previously struggled with debt resulting in the company selling USD7.1 billion worth of assets to Qatari Diar, said that the stake was bought through its subsidiary, Barwa International Company.
The company also reported that it registered a net profit of USD184.93 million during the January-September period of this year compared with USD126.64 million in net profit last year.
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