Barwa Real Estate Group announced signing a Sharia-compliant financing contract with the International Bank of Qatar, worth $175 million (approximately QR 640 million). The signed contract aims to refinance an outstanding Islamic financial liability of Barwa Real Estate, over seven years from the date of the draw. The financing contract comes in line with Barwa business plan which was recently released, and which revealed Barwa’s intentions to refinance its existing credit liabilities for longer periods of time and on better terms in order to strengthen the financial position of the group.