Qatar developer Barwa Real Estate (Barwa) said on Monday it has repaid a $700 million syndicated loan, which was arranged through four financial institutions.

"Despite the difficulties created by the global financial crisis on the real estate sector, Barwa has been unhindered from honouring its financial commitments and completion of key real estate mega projects that are directly shaping the future of Qatar," Barwa said in a statement on Qatar's bourse website.

The loan was arranged throuh BNP Paribas, JP Morgan, Standard Chartered and Gulf International Bank.

Barwa, which has properties in Paris, Switzerland and the UK, was ordered by the government in January to merge with Qatar Real Estate Investment Co. – Reuters