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Thu 22 Jul 2010 10:27 AM

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Barwa gets $3.5bn Islamic financing from Qatari Diar

Qatari Diar's financing for Barwa City Real Estate Co is in two murabaha contracts.

Barwa gets $3.5bn Islamic financing from Qatari Diar
QATAR FINANCING: Qatari Diars financing for Barwa City Real Estate Co is in two murabaha contracts. (Getty Images)

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)

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