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Barwa Real Estate, IBQ sign QAR 640m deal

Barwa Real Estate, IBQ sign QAR 640m deal
Photo Credit: Arabianeye-Reuters
International Islamic
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Barwa
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Doha-Mubasher: Barwa Real Estate Group signed a Sharia-compliant financing contract worth $175 million (QAR 640 million) with the International Bank of Qatar (IBQ), according to a bourse filing.

The deal aims to refinance an outstanding Islamic financial liability of Barwa, over seven years from the date of the draw.

Barwa said that the financing contract comes in line with its business plan to refinance its existing credit liabilities for longer periods of time and on better terms in order to strengthen the financial position of the group.