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FINANCIAL NEWS
Qatari Barwa Real Estate fully acquires Lusail Development
06 Jan 2015
(MENAFN) Qatar’s Barwa Real Estate announced that it has completed the purchase and transfer of the 50 percent it acquired in the Lusail Golf Development Company through its fully owned subsidiary Barwa International, QNA reported.
The company said that after the completion of the transaction, it now owns 100 percent of the sahres in the Lusail Golf Development, which is a Qatari Company with Limited Liability, located in Qatar with a capital of USD2.74 million.
The Lusail Golf Development is set on a 3.66 million square meters land, which is approximately equivalent to 10 percent of the total space of the city that is set on 38 square kilometers, which will also be added to the land that company owns in the northern area of the City which Barwa is currently using to develop its project
“Lusail Golf transaction is considered to be one of this Barwa’s biggest purchase transactions in 2014. The importance of the transaction comes from the importance of Lusail City itself. This massive developmental project aims to construct a high standard community and create balance between the beauty of architecture and the need of people to live in a descent and inspiring community,” Barwa said in a released press release.
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