"Barwa Real Estate has signed a Sale contract with a Qatari Company for the sale of 2 plots of land in Musaimeer area. The total value of this contract is QAR 5,337,364,135 (Five Billion Three Hundred Thirty-Seven Million Three Hundred Sixty-Four Thousand One Hundred Thirty-Five).
It has been agreed that Barwa will deliver one of the plots to the buyer before the end of the year 2014, against a cash payment of2,633,939,948 QAR (Two Billion Six Hundred Thirty-Three Million Nine Hundred Thirty-Nine Thousand Nine Hundred Forty-Eight Qatari Riyals), while the second plot will be transferred in the first quarter of 2015, against a second cash payment of QAR 2,703,424,186 (Two Billion Seven Hundred Three Million Four Hundred Twenty-Four Thousand One Hundred Eighty-Six).
This transaction aims at increasing the available liquidity with Barwa to cover its financial obligations, and allows Barwa to consider venturing in new projects and investments that have positive return which supports the financial position of the company, and increases the revenue for its Shareholders.
The Purchasing Company is a Qatari Company with Limited Liability, and is not a subsidiary of any listed company. Additionally, there is no conflict of interest between the parties involved in this transaction, or the Board members of Barwa and the Purchasing Company."