Doha -Barwa Real Estate Company announced yesterday the launch of its newest real estate project in Qatar, the Ain Khalid Commercial Development, incorporating integrated facilities including administrative malls, housing apartments, retail outlets, exhibitions, and restaurants at a cost of QR3.5bn.
Ghanim bin Saad Al Saad, Chairman and Managing Director of Barwa Real Estate Company, said that the project is to be located in Msemeer area starting from the crossroad of Msemeer Road and Industrial road that extends 11km the length of Msemeer Road and the Eastern Road in the Industrial area.
The project is to expected to be commissioned by the year 2009, a news release issued by the company said yesterday. "Barwa invested greatly in creating a unique design for the project so that it reflects a distinctive and unique Qatari masterpiece in its design and construction. The official approval of this project also reflects the trust that the Government of Qatar has given our company," said Al Saad.
He also pointed out that the promising opportunities made available as a result of the dynamic real estate investment climate in Qatar provided all the ingredients for the execution of these kinds of projects in addition to the current urgent need for administrative, commercial and housing complexes built to international standards. Ghanim bin Saad Al Saad
Shedding light on major projects undertaken by Barwa, Al Saad noted that company had purchased a housing tower at a cost of QR235m, in partnershp with Bahrain-based Nazal Company in which Barwa owns 25 per cent stake.
He said Barwa also purchased some properties in France to the tune of QR1.22 bn (255m euros) which include several administrative buildings managed by French and large international companies.
© The Peninsula 2006
