DOHA: Barwa Real Estate Group announced signing a Sharia-compliant financing contract worth $175m (QR640m) with the International Bank of Qatar (IBQ).
The deal aims to refinance an outstanding Islamic financial liability of Barwa Real Estate, over seven years from the date of the draw.
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In a regulatory filing to Qatar Exchange (QE) yesterday, Barwa said that the financing contract comes in line with Barwa’s business plan to refinance its existing credit liabilities for longer periods of time and on better terms in order to strengthen the financial position of the group.
