Barwa Real Estate appoints acting CEO

May 19, 2014 - 2:34:29 pm

DUBAI: Qatar's Barwa Real Estate has appointed Ahmad Abdulla Ali al-Abdulla as acting group chief executive, the property developer said on Monday.

He replaces for former CEO Abdulla al-Subaie, who has resigned, the company said in a statement on Doha's bourse.

Barwa has struggled with debt, leading it to offload assets and cut staffing costs. Qatari Diar agreed to buy Barwa's assets worth $7.1 billion last June, which included its stake in unlisted Barwa Bank. (Reuters)