Qatar-based Barwa Real Estate company said it has signed a new facility agreement with Qatar International Islamic Bank (QIIB) worth QR600 million ($165 million).

The move is aimed at securing finance for a part of its upcoming projects, said a statement from Barwa.

This agreement reinforces Barwa’s strategy of strengthening its financial position by funding the upcoming projects through credit facilities with favourable rates, terms and conditions, it added.-TradeArabia News Service