$1.3bn Qatar real estate funding beats the global slump.

The Middle East real estate market continues to boom. HSBC has just closed $1.3bn in funding for Al Waab City, a mixed use development located in Qatar to be home to 8,000 residents, as well as commercial, retail, hotel and leisure facilities which will be substantially completed in 2010. The developer paid tribute to the bank for the largest real estate financing to be achieved since the onset of this autumn's financial crisis.