The big deal for Barwa Qatar 2.5 billions…

Barwa Real Estate has signed an QR 2.54bn agreement with the government under which the latter purchased a plot of land in Lusail City from the company. The deal will “maximize the group’s profit and consequently shareholders returns”, Barwa Real Estate said yesterday. 

Barwa Real Estate has received QR 1.04bn in cash part of the agreement, while the remainder (QR 1.5bn) was settled against bank facilities.

A release said the government, in consultation with “specialized bodies”, will later determine the “best use” of Lusail land.