Mubasher: Barwa Real Estate, a fully owned subsidiary Qatar Real Estate Investments Company “Alaqaria”, on Wednesday announced signing contract termination and discharge release for two financial leasing agreements with Qatar Petroleum (QP).
The agreements’ total value amounted to QAR 670 million, according to the company’s filing to the Qatar Stock Exchange (QSE).
Barwa noted that Alaqaria has constructed these projects to be leased to QP, the world’s biggest supplier of liquefied natural gas (LNG).
Signing the contracts will result in increasing Barwa’s cash and bank balances, in addition to supporting its investment activities, according to the statement.
For the first quarter of 2018, Barwa’s profits declined to QAR 407.2 million, compared to QAR 482.9 million in Q1-17.
By the end of Wednesday’s session, Barwa’s stock advanced 0.81% at QAR 36.09.
