Qatar’s Barwa sells Financial District for $3bn

Barwa Real Estate, the Middle East’s biggest property company by assets, has sold the Barwa Financial District to Qatar Petroleum for QR11bn ($3bn), the developer said on Wednesday.

Barwa plans to complete the project and hand it over to the state-owned energy company by 2015, Barwa said in a statement.

Company chairman Hitmi Ali al-Hitmi later disclosed the sale price in comments to reporters in the Qatari capital, Doha, Bloomberg reported.

Article by Links Group on Dec 22nd 2011