Barwa takes over Lusail’s golf course project Saturday, 04 September 2010 04:56

DOHA: Barwa Real Estate Company has taken over the golf course development project in Lusail from Kuwait’s Al Imtiaz Investment at a cost of QR1.24bn.

The money will be transferred as part of the deal within three weeks, a local Arabic daily reported yesterday.

Spokesman of Qatari Diar and Barwa Real Estate Company, Ghanim bin Saad Al Saad said Qatari Diar and Barwa have always backed Al Imtiaz and the latest move of taking over the golf course development project at Lusial is to help the company with liquidity. The daily said Al Saad outlined the details of the deal at the general assembly meeting of the company. He said Al Imitaz had successfully overcome the impact of the global financial crisis.

The Peninsula

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