Barwa finalises merger deal with Alaqaria

04 March 2010

Qatari Diar to fund proposed transaction

Doha-based property developers Barwa Real Estate Company (Barwa) and Qatar Real Estate Investment Company (Alaqaria) have finalised a deal that will see the two companies merge.

The deal was first proposed on 10 January and will result in Barwa acquiring 100 per cent of Alaqaria in return for a 30 per cent premium on its shares. The transaction will be funded by Doha-based Qatari Diar Real Estate Investment Company, the largest shareholder in Barwa and Alaqaria.

The transaction will create a Qatari property company with operations across the entire real estate value chain. This includes industrial housing, residential communities, commercial complexes, international mixed-use developments, project finance, project management, facilities management and utility services.

Qatari Diar will maintain a 45 per cent share in the enlarged Barwa company through a contribution of land in the Lusail area, set to become an education and medical district.

No changes to the management of Barwa or Alaqaria are envisaged as part of the proposed transaction.

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