Wednesday, Dec 21, 2011
DOHA (Zawya Dow Jones)--Barwa Real Estate Co. (BRES.DO), Qatar's largest developer by revenue, said Wednesday it finalized the sale of its 11 billion Qatari riyal ($3.02 billion) Barwa Financial District to state-run Qatar Petroleum, or QP.
QP is expected to relocate its headquarters to the Barwa Financial District and start occupation by 2015, Barwa said in a statement.
In March, Barwa and QP signed a sales agreement for the project, which will be owned and managed by the national oil company.
The 696,000-square-meter Barwa Financial District is located in the West Bay area of Qatar's capital, Doha.
-By Alex Delmar-Morgan, Dow Jones Newswires; +974 6659 9818; alex.delmar-morgan@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
21-12-11 1315GMT
