Barwa Real Estate Group has signed financing agreements with a local Qatari bank worth QR4.12bn for a term of nine years.

These agreements aim to refinance existing financing liabilities of the group, Barwa said in a regulatory filing with the Qatar Stock Exchange.

With the signing of these agreements, Barwa will have completed the refinancing of all its financing liabilities for new periods in line with its strategy to strengthen its overall financial position.

Barwa also confirmed the absence of any conflict of interest between the parties involved in these agreements.

The real estate company had earlier outlined QR15bn capital expenditure for the next five years as it aims at minimum 15% return of equity and doubling of shareholders' equity by 2020.

Barwa - which holds a large land property of 4.5mn square metres in Qatar in different areas as Lusail City, Mesaimeer, New Doha, Wakrah, Energy City, Al Khor, Grand Hamad Street and Ras Laffan - aims to complete the development of all these plots by 2020.

The new business plan (2016-20) is considered to be the largest since its establishment in 2005 in terms of the number and size of the projects to be developed over the next five years.