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FINANCIAL NEWS
Qatar’s Barwa looking for new investments in London
03 Oct 2012
(MENAFN) Qatar’s Barwa Real Estate plans to invest in the European property, particularly in the London property market by this year’s end, Reuters reported.
Ahmad Abdulla al- Abdulla, deputy group chief executive, said on the sidelines of the Cityscape real estate conference in Dubai that Barwa is interested in hotels and business towers.
Barwa has already several investments in the UK, France, Switzerland and Turkey, and owns a building in London’s upmarket Mayfair Conservation Area.
Abdulla also disclosed that Barwa may resort to banks to part-finance a major project in Doha as early as next year. Barwa is currently focusing on projects in the local Qatari real estate market ahead of the soccer World Cup in 2022.
He said the project, which is equally shared with Bahrain’s Arcapita, will be financed through 30-40 percent equity and 20 percent bank lending with the rest from pre-sales.
Barwa, GCC’s largest listed developer, is 45 percent owned by Qatari Diar, the property arm of Qatar Investment Authority (QIA).
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