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Mon 1 Aug 2016 04:03 PM

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Qatar's Barwa signs $175m land deal in Saudi Arabia

Developer Barwa Real Estate says it has bought vacant plot of land in Riyadh

Qatar's Barwa signs $175m land deal in Saudi Arabia

Qatar's Barwa Real Estate, one of the Gulf Arab state's largest listed developers, said on Monday it had bought a vacant plot of land in Riyadh, Saudi Arabia, for 659.28 million riyals ($175.8 million).

It did not give the name of the seller of the 2.22 million square metre plot. It said the deal was part of Barwa's plan to explore potential real estate investment opportunities in the kingdom and that the project would include residential and commercial use.

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