The Qatar market index (QE 20) fell by 0.64 per cent to close at 12,851.64 points on Wednesday, May 7. Mannai Corporation was the top gainer, ending up 5.86 per cent at QAR113.89. Vodafone Qatar recorded the biggest drop, ending down by 4.38 per cent at QAR17.89. Barwa Real Estate lost 2.06 per cent to hit QAR38. Earlier in the day, the developer said it has entered into a share sale and purchase agreement in relation to the sale of the Barwa City project to Labregah Real Estate Company, a wholly-owned subsidiary of Qatari Diar Real Estate Investment Company, for a purchase price of approximately QAR7.57 billion (U$1.97 billion). “Closing of the transaction is subject to customary conditions and the purchase price is subject to customary price adjustment. This transaction has been entered into pursuant to the Framework Agreement between Qatari Diar and Barwa which has been previously announced to the market,” said Barwa in a filing to the bourse in Doha.
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