DOHA: Barwa Real Estate Company yesterday announced it sold two huge plots of land with for about QR5.34bn ($1.46bn).Both the plots of lands are located in Mesaimeer area, according to a press statement.
According to the sale agreement, the first plot of land (valued QR2.63bn) will be handed over to the buyer, a private Qatari company, before the end of 2014, while the second plot (about QR2.7bn) will be delivered by the first quarter of 2015. The real estate giant, through the sale of these two properties, aims at enhancing company’s liquidity to meet financial obligations and implementing new projects. In the statement issued in Arabic, Barwa said that the buyer is a local company with limited liabilities, and does not belong to any companies listed in Qatar Exchange, nor does it have any conflict of interests with Barwa Real Estate.
The Peninsula
