Barwa Real Estate Gains QR 1.3 Billion on Terminating 9
Financial Lease Contracts with Qatar
Petroleum
Feb 2, 2017
Barwa Real
Estate Company announced that its fully
owned subsidiary, Qatar Real Estate
Investment Company " Al Aqaria
" has signed a deal with Qatar Petroleum
to terminate 9
financial lease contracts. According to such contracts, Al Aqaria had constructed and leased multiple
real estate projects to Qatar Petroleum.
As
a result of the termination of contract
and discharge, Al Aqaria will gain QR
1,296 million to increase its cash
balance and bank balances in order to
support investment activities of the
group.