Wednesday, 17 January 2018 02:55 GMT

Barwa sells USD2.5b stake to Qatar's Diar

(MENAFN) Qatari property developer Barwa Real Estate plans to sell 95 percent stake in Barwa Commercial Avenue Co to the property arm of the country's sovereign wealth fund, according to Arabian Business. The USD2.5 billion deal is part of a wider plan to sell some of Barwa's assets worth USD7.1 billion to the Qatar-based Diar. The developer said that the stake will be sold to Labregah Real Estate Co, a wholly owned subsidiary of Qatari Diar.

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