Qatar’s Barwa Real Estate Appoints Salman Al-Muhannadi Group CEO

Qatar’s Barwa Real Estate has appointed Salman Mohamad al-Muhannadi group chief executive as of March 1, it said in a statement on Monday.

Muhannadi was previously chief executive of QNB Capital, the investment arm of Qatar National Bank, a bourse statement said.

In May last year, Barwa had appointed Ahmad Abdulla Ali al-Abdulla acting group chief executive after his predecessor resigned.

Barwa has struggled with debt, leading it to offload assets and cut staffing costs. In December, it sold land plots for $1.47 billion to an unidentified buyer.

“The group is currently finalising its new strategy, reviewing current investments to determine best approaches of utilising them and studying potential opportunities,” the statement added.