Qatar’s Barwa Real Estate buys land for $175.8m in Saudi

Qatar’s Barwa Real Estate, one of the Gulf Arab state’s largest listed developers, said on Monday it had bought a vacant plot of land in Riyadh, Saudi Arabia, for 659.28m riyals ($175.8m).

It did not give the name of the seller of the 2.22 million square metre plot. It said the deal was part of Barwa’s plan to explore potential real estate investment opportunities in the kingdom and that the project would include residential and commercial use.