Qatar - Barwa Real Estate Company (BRES) on Thursday announced that its shareholders had approved increasing non-Qatari ownership limit to 49% instead of 25% during an extraordinary general assembly (EGA) held the previous day.

The assembly also agreed on adjusting the company’s articles of association in accordance with the amendments of foreign ownership percentage, according to the company’s statement to the Qatar Stock Exchange (QSE).

The step aims at achieving the Qatari bourse's vision in an effort to promote the Qatari financial market and develop its mechanism to be a regional financial hub.

Raising foreign ownership limit in Qatari firms targets attracting global investments, according to the statement.

Early in March, Rashid Al Mansoori, CEO of the QSE, urged all listed firms to increase their non-Qatari share ownership to 49% in a bid to enhance foreign investment in the Qatari market.

Source: Mubasher

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