Feb 06 2012 |
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Qatar's Barwa RE Plans To Cut Debt By Selling Some Assets - Report
Monday, Feb 06, 2012
BEIRUT (Zawya Dow Jones)--Barwa Real Estate Co., Qatar's biggest property developer by market value, plans to reduce its debt by selling some of its assets, Doha-based Al Arab daily reports Monday, citing a senior executive.
Barwa is in the process of repaying some high-cost loans, Abdullah Al Subaey, the company's chief executive, told the paper. He added that his company is currently working to boost its profitability and operating cash flow, and is focusing on reducing the financial risk and improving its capital structure.
Barwa is relying on three major projects to increase its revenues this year and next year, Subaey said, according to the daily.
Newspaper website: http://www.alarab.qa/details.php?issueId=1514&artid=171280
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
06-02-12 0852GMT
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