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.