Qatari Diar's financing for Barwa City Real Estate Co is in two murabaha contracts.
Barwa Real Estate Co, a Qatar-based property developer, said one of its units got a $3.5bn Islamic murabaha financing from Qatari Diar Finance.
The financing for Barwa City Real Estate Co is in two murabaha contracts: the first provides $1bn maturing in July 2015, and the second $2.5bn due July 2020, Barwa said in a statement to the Qatar bourse on Thursday. Qatari Diar Finance is a unit of Qatari Diar Real Estate Investment Co.
Barwa’s agreement with Qatari Diar will allow for financing of Barwa Financial District and Barwa Commercial Avenue Co, according to a statement. (Bloomberg)