Barwa Real Estate Company officials during the Extraordinary General Assembly meeting.
DOHA: Barwa Real Estate Company, one of the major real estate developers in Qatar, yesterday held the company’s Extraordinary General Assembly (EGA) and got approval for all the items on the agenda of the meeting, including a proposal to increase the shareholding percentage of non-Qataris in the shares of the company from 25 percent to 49 percent of the total shares of the company.
The board also got shareholders’ nod to amend the company’s Articles of Association to be in accordance with the amendments of non-Qatari ownership percentages.
All necessary measures are to be taken in accordance with the relevant laws and procedures to implement the said decision, after obtaining the approval from the Ministry of Economy.
The Extraordinary General Assembly meeting of Barwa was chaired by Issa Mohammed Al Mohannadi, Vice-Chairman, with the presence of some of the Board members and Chief Executive Officer of the company Salman bin Mohammad Al Muhannadi.
Al Mohannadi explained that this amendment comes in line with the efforts exerted at all levels in the country, and in order to achieve the vision of Qatar Exchange to enhance the Qatari financial market and develop its mechanism to be a regional financial center and an attractive market for global investments.
