Barwa Real Estate Company Flips Land Plot in Al-Janadriyah Area in Riyadh
Posted on 04/16/2021
Barwa Real Estate Company (Barwa Group) is a Doha-based real estate company. The company is 45% owned by Qatari Diar Real Estate Company, the real estate arm of the Qatar Investment Authority. Days earlier, Barwa Real Estate Company, through its unit Wahat Al-Riyadh Real Estate Company, signed a deal to sell a plot of land, in Riyadh, for a gross consideration of 742,380,100 SAR. The land plot is located in the Al-Janadriyah area in Riyadh, with an area of roughly 2.2 million square meters.
Barwa Real Estate Company purchased the land plot in 2016 for 659,277,850 SAR.
In February 2021, Barwa Real Estate Company signed an agreement for a facility with Ahli United Bank amounting to $US1 57.14 million to refinance part of the current obligations.
