Barwa has received one billion forty four million Qatari Riyal
(QR 1,044,000,000) in cash as part of the signed agreement value, while the remaining one billion five hundred million Qatari Riyal
(QR 1,500,000,000) was settled against Bank facilities
According to Bloomberg currency converter, one Qatari riyal
fetched as high as Rs15.
With the closing of the Barwa Commercial Avenue transaction, Barwa Real Estate has now transferred to Labregah Real Estate approximately Qatari Riyal
19 billion worth of assets under the Framework Agreement leaving approximately 15% of asset value that remains to be transferred under the Framework Agreement.
As a result, "it may be premature to come to a conclusion about the losses from pegging the Qatari Riyal
to the US dollar," he said.
With Indian expatriates looking to capitalise on the declining value of the rupee against the Qatari riyal
, Doha-based exchange companies are witnessing a sharp increase in remittance to the South Asian country.
The recent strengthening of the euro against the dollar, and hence against the Qatari riyal
, is partly related to market expectations of higher euro interest rates.
Not long ago, the same exchange houses transacted huge remittances to India with one Qatari riyal
fetching as high as 13 Indian rupees.
Corporate clients, who operate on credit, will earn one Air Mile for every dirham, Bahraini dinar or Qatari riyal
spent, while consumer clients, who pay cash, will earn two Air Miles for every dirham, dinar or riyal spent using the company's courier service.
Until this week, forwards implied a slight weakening of the Qatari riyal
over the course of the next year, but the central bank's move has turned it around.
The real estate firm is helming the to-be-developed 1 billion Qatari riyal
Marina Mall in Doha.
35 billion Qatari Riyal
which shows an increase of 12.
It added, The initial issued share capital of MACS Gulf LLC is 200,000 Qatari Riyal
(QAR) divided into 200 shares of QAR 1,000 each.