Qatar: The Qatar Exchange closed insignificantly lower at 8,780.48 points Thursday. Shares of Barwa Real Estate posted the largest value increase by soaring six per cent to reach QR31.10. Earlier in the day, Barwa announced it signed a sales completion agreement for the Barwa Financial District. Covering an area of 696,000 square meters, the Barwa Financial District is expected to house the headquarters of Qatar Petroleum, which will own and operate the development. Upon completion of the project, Qatar Petroleum is expected to re-locate its headquarters and various business entities to the Barwa Financial District. The Barwa Financial District consists of 10 towers, which have an average of 21 to 36 floors and occupy a prominent position in Doha's West Bay area. The initial value of the project is estimated at approximately QR11bn. Compared to the previous day, trading turnover rose almost five-fold at the Qatar Exchange Thursday, as 54m shares were traded, valued at QR1.35bn. [AMEInfo.com]
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