Wires

UPDATE 1-Qatar's Barwa to sell $4.4 bln in assets to repay loans

* Assets to be sold in Qatar and Egypt

* Sale to be reflected in Q4 results

(Adds background)

DOHA/DUBAI, Oct 7 (Reuters) - Barwa Real Estateplans to sell assets worth 16 billion riyals ($4.4 billion) inQatar and Egypt to pay down loans, the Qatari property firmsaid on Sunday.

The assets being sold include land in the Gulf Arab state aswell as the Barwa New Cairo project in Egypt. The sale will bereflected in fourth-quarter results, Barwa said in a statement.

Qatar's property market is still recovering from oversupplythat saw prices slump in the aftermath of the global economiccrisis in 2008. Investors are hoping its successful bid to hostthe 2022 soccer World Cup will reignite a boom in the sector.

Last year, Barwa laid off approximately 90 employees in arestructuring move, sources said.

In May, group Chief Executive Abdulla al-Subaie said costshad been reduced as a result of restructuring, and the companywas now focused on improving the operational side of thebusiness.

Earlier this month, Barwa's deputy group chief executivesaid it was looking to invest in the London property marketbefore the end of the year, without giving details on potentialtargets or how much it was willing to invest.

Barwa, Qatar's largest listed property developer, is45-percent-owned by Qatari Diar, the property arm of thecountry's acquisitive sovereign wealth fund, the QatarInvestment Authority.

Shares of Barwa are up 0.7 percent on the Doha bourseat 0845 GMT.

(Writing by Amran Abocar; Editing by Dinesh Nair and MarkPotter)

((amran.abocar@thomsonreuters.com)(+971 4 453 6467)(ReutersMessaging: amran.abocar@thomsonreuters.com))

Keywords: BARWA SALES/