Barwa Real Estate Company

Barwa Real Estate Company is one of the largest publicly listed real estate developers in the region with QAR3.2 billion (USD889 million) in revenues in 2006. Barwa is also among the region's top 20 real estate developers with over USD3.76 billion in mega-projects under development (as of year-end 2006).

Barwa was created by the government-owned Qatari Diar Real Estate Investment CompanyQatari Diar Real Estate Investment Company in 2004 to concentrate on building medium-sized residential and tourism developments locally and abroad. Barwa underwent an IPO on the Doha Securities Market in 2006 that raised USD330 million for 55% of the company's equity.

Barwa has been busy expanding and acquiring property in Qatar and around the world for its developments. In May 2006, Barwa formed an alliance with Al Imtiaz Investment CompanyAl Imtiaz Investment Company (Kuwait) to establish a USD70 million company, Barwa Al Khor CompanyBarwa Al Khor Company. The new company will purchase and develop lands of Al Khor Resort as a tourism and residential destination spread over 7.99 million square meters (86 million square feet) with an estimated cost of USD1.4 billion.

In March 2007, Barwa entered a joint venture with Villa Moda LifestyleVilla Moda Lifestyle (Kuwait) and established the USD5.5 million Barwa Al Rayyan for Real Estate Development in Doha. The new firm was created to carry out real estate development, construction, and property management activities locally, regionally and internationally.

Barwa began setting its feet outside the region by acquiring real estate properties in France in November 2006 at a cost of USD335 million as well as signing on to co-develop a tourist resort in Croatia.