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FINANCIAL NEWS
Qatari Basrec secures USD1b loan for mega-mall project
02 Jul 2012
(MENAFN) Qatari developer Bawabat Al Shamal Real Estate Company (Basrec) signed a USD1.01 billion syndicated loan to help fund the development of its Doha Festival City project, Trade Arabia reported.
General Manager Marwan Shehadeh said the 10-year facility was the largest Qatari private sector syndicated transaction.
The USD1.6 billion mall is being built on a 433,847sqm area which will include 260,000 sqm gross leasable area of retail space offering over 500 retail units which will include a large number of new brands to Qatar.
The development is located north of downtown Doha on Al Shamal Road, one of the main arterial routes to the city centre, and the route that will eventually connect Doha with Bahrain via the Qatar-Bahrain Causeway.
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
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04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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