Qatar-based Barwa Real Estate Group has signed two agreements with Qatar National Bank (QNB) to refinance existing facilities totalling $557 million.

The refinancing will extend until June 2031 and strengthen the developer’s financial position and maximise the benefits of its cash flows.

Qatari Diar, a company owned by the Qatar Investment Authority holds a 45% share in Barwa.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)