May 19, 2014 / 11:37 AM / in 3 years

Qatar's Barwa Real Estate appoints acting CEO

DUBAI, May 19 (Reuters) - 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. (Reporting by Praveen Menon; editing by Matt Smith)

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