Bloomberg News

Persian Gulf Stocks: Barwa Real Estate of Qatar, Dar Al Arkan

May 30, 2012

Saudi Arabia’s Tadawul All Share Index fell for a second day, declining 0.8 percent to 6,975.27 at the 3:30 p.m. close in Riyadh. The measure has fallen 7.7 percent this month. Qatar’s QE Index was little changed.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Barwa Real Estate Co. (BRES) rose as much as 1.3 percent to 27.65 riyals before paring gains to 27.45 riyals. Qatar’s second-largest developer by market value sold two hotels and a health club building to Katara Hospitality for 1.1 billion riyals ($302 million), the company said in a statement to the Qatar Exchange.

Dar Al Arkan Real Estate Development Co. (ALARKAN) declined 3.5 percent to 10.90 riyals. The company with $1 billion of debt due in 2012 named Abdulrahman Al-Harkan as general manager.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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