Barwa Real Estate Company (Q.P.S.C.), the leading real estate and investment company in Qatar and the region, announced the signing by its subsidiary, BARWA Al-Sadd Co. (W.L.L.) -fully owned by BARWA Group- a purchase agreement for purchasing a percentage of 75% of Millennium Plaza Hotel and the Wellness Center located at BARWA Al-Sadd Development, from Katara Hospitality at a purchase price of QAR 501,642,516 (five hundred and one million and six hundred forty-two thousand and five hundred and sixteen Qatari Riyals).
With this transaction, Barwa Al Sadd now fully acquires the Millennium Plaza Hotel and the Wellness Center, where it has previously purchased 25% in June 2018.
The company aims from this purchase transaction to support the operating real estate portfolio of BARWA Real Estate Group in a way that contributes in realizing the sustainable growth and enhances the rights of the stakeholders.
BARWA also wishes to note that there is no conflict of interests between the parties related to this transaction.