Qatar real estate firm Barwa Real Estate yesterday named a new chairman and changed the representation of its largest shareholder and state property fund Qatari Diar in the board.
Salah bin Ghanim al-Ali (pictured), who was named Qatar’s new Sports Minister in June and is also a senior executive at Qatari Diar, will be the new chairman of the board.
The current board chairman is Hitmi Ali Khalifa al-Hitmi.
The Board of Directors includes seven members, three of whom are from Qatari Diar with the remaining four being elected by the shareholders, Barwa said.
Qatari Diar, which owns 45% of Barwa, stepped in with $7.1bn of financial support for Barwa in June, buying some key assets to help the company reduce its debt pile.