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Qatar's Barwa buys land for $175m in Saudi Arabia

The deal was part of Barwa's plan to explore potential real estate investment opportunities in the kingdom

Barwa bought a plot of land in Saudi Arabia for new projects.
Barwa bought a plot of land in Saudi Arabia for new projects.

Qatar's Barwa Real Estate said that it had bought a vacant plot of land in Riyadh, Saudi Arabia, for $175.8m (SAR659.28m).

The listed developer did not give the name of the seller of the 2.22 million sqm plot.

A statement from the company said the deal was part of Barwa's plan to explore potential real estate investment opportunities in the kingdom.

The intended project would include residential and commercial use spaces, Reuters reported.

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Construction Week - Issue 753
Nov 09, 2019