Qatar-based developer Barwa Real Estate has completed the sale of a plot of land owned by its subsidiary in Riyadh, Saudi Arabia, in a deal worth 742.38 million Saudi riyals ($198 million).
In a statement to the Qatar Stock Exchange, Barwa said that Wahat Al-Riyadh, which had earlier received 30 million riyals as deposit, received the remaining amount of 712.38 million riyals.
Barwa expects a profit of 46 million riyals from the sale, which will support its cash position and development plans.
(Writing by Brinda Darasha; editing by Cleofe Maceda)
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