Barwa signs sukuk
Barwa Real Estate Company has raised a $600 million, one-year murabaha sukuk arranged by Bahrain's Gulf International Bank. The deal has two extension options, giving it a maximum term of three years. The firm says the money will be used to finance its projects, which include the Barwa City residential development in Doha. The murabaha structure does not involve interest, setting the profit levels on the sale of commodities in advance.
Barwa Real Estate Company has raised a $600 million, one-year murabaha sukuk arranged by Bahrain's Gulf International Bank. The deal has two extension options, giving it a maximum term of three years. The firm says the money will be used to finance its projects, which include the Barwa City residential development in Doha. The murabaha structure does not involve interest, setting the profit levels on the sale of commodities in advance.
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