Jan 09 2012 |
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Barwa nears completion of Al Sadd project
DOHA: Barwa Real Estate , one of Qatar's leading international real estate and investment companies, announced that over 99 percent of its 'Barwa Al Sadd' project has now been completed. The project is expected to be ready for hand-over during the second quarter of the year.Barwa has currently leased all housing units and two of three office towers on the project. The third office tower is expected to serve as the headquarters of Barwa Real Estate and its subsidiaries. An agreement has also been signed with a leading international hotel chain to set-up a project, the name of the hotel is expected to be announced at a later stage.
Final project preparations are well underway, following the finalisation of work on the development as a whole and Barwa is expected to re-locate to its new headquarters during the second quarter of 2012.
Commenting on the announcement, Abdulla Abdulaziz Al Subaie, Chief Executive Officer of Barwa Real Estate Group, said: "The completion of the Barwa Al Sadd project marks an important milestone, which reflects Barwa's dedication to the project's planning, development, design and construction over the years. As we celebrate this moment, I would like to thank all our colleagues and partners who contributed and supported this project to become a reality and a prominent landmark in Al Sadd area. In the future we look forward to announcing the completion of other Barwa developments that have been under construction over the past few years".
On the residential front, the project includes three apartment buildings, each measuring 10 floors and containing 261 flats and a 3-floor basement. A 5-floor building is also reserved for parking spaces and is expected to accommodate up to 1,702 cars.
Work at various other Barwa projects is also well underway and expected to be completed on schedule. For instance, Barwa Commercial Avenue, a leading QR7bn mixed-use development that extends up to 8.5km near the Industrial Area has already completed the majority of its construction work.
© The Peninsula 2012
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