IslamicFinance.de

Qatar-based developer Barwa Real Estate has signed a new facility agreement with Qatar International Islamic Bank (QIIB) worth $165m (QAR600m). According to the official statement, the move is aimed at securing finance for a part of its upcoming projects. This agreement reinforces Barwa’s strategy of strengthening its financial position by funding the upcoming projects through credit facilities with favorable rates, terms and conditions.

Qatar's Barwa Real Estate has secured a 600 million riyal ($164.8 million) financing facility from Qatar International Islamic Bank. The official statement said the money was to fund part of the company's new projects under construction. It did not specify which projects.