Barwa sells $2.5bn Commercial Avenue stake as bailout continues - Doha News:
"One of Qatar’s largest real estate firms continued to sell off its assets to the country’s sovereign wealth fund this week with the offloading of a massive retail development near the Industrial Area.
Barwa Real Estate Co. said in a regulatory filing that it had sold its 95-percent stake in Barwa Commercial Avenue for QR9.02 billion (US$2.45 billion) to Labregah Real Estate Co., a wholly owned subsidiary of the Qatari Diar Real Estate Investment Co. The other 5 percent is owned by the Qatar government.
The move was part of an existing debt payment plan that required Barwa to sell QR20 billion ($5.49 billion) worth of assets to the Diar. It has helped expand the government’s already extensive influence on the local real estate market in the process."
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