Qatar’s Barwa Real Estate mulls investing in Sudan

June 17, 2007 (DOHA) — Qatar’s Barwa Real Estate Co. said it was considering investing in Sudan as part of a strategy to expand outside its home country.

Talks in Sudan with unidentified people were “constructive and informative,” Barwa said in a statement on the Qatari bourse Web site on Sunday.

Qatar’s al-Sharq newspaper reported on Sunday the company was planning to invest $500 million in the African state. Barwa did not comment directly on the report.

“The visit to Sudan was part of a new investment exploration of opportunities outside the state of Qatar, and the visit is just a new investment discovery which requires additional study and research,” the company said. It did not give details.

Shares of Barwa closed 1.73 percent down on Sunday. They are up 57.39 percent this year to Thursday’s close.

(Reuters)