Global Arab Network | Qatar: Diar, Barwa Real Estate Repaid $ 1.5 billion to Standard Chartered Bank

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Qatar: Diar, Barwa Real Estate Repaid $ 1.5 billion to Standard Chartered Bank

Global Arab Network - - Mohamed Tamer

Tuesday, 01 March 2011 17:28

Qatar (Doha) - Qatari Diar Real Estate Investment and Barwa Real Estate has announced that they have fully repaid the amount of $ 1.5 billion obtained through a temporarily financing agreement Murabaha concluded in cooperation with the Standard Chartered Bank, Global Arab Network reports according to a press statement.

Ghanim bin Saad Al Saad, Managing Director of Qatari Diar, who is also Board Chairman and Managing Director of Barwa Real Estate Company expressed in a press release all thanks to the partners bankers for their support to enable the two companies to participate in the future development of the State of Qatar and to continue the ongoing expansion of their activities.

He stressed the Qatari Diar and Barwa Real Estate Companies puirsuit to meet the future requirements of the State of Qatar with a view to enhancing its international position as a commercial hub of global investment. The Qatari Diar Real Estate Investment Company is wholly owned by the Qatar Investment Authority (QIA), was founded in December of 2005 to support Qatar's economy and form a pillar of real economic progress Qatar was witnessing.

To achieve this the Company is implementing more than 35 projects in more than 20 countries worldwide . The company also owns 45 per cent of the shares of Barwa Real Estate Company.

Global Arab Network

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