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Barwa Al Sadd Project

HE Mr. Al-Hitmi: I'm proud of completing the project ahead of schedule

HE Mr. Hitmi bin Ali Al-Hitmi, Mr. Abdulla Abdulaziz Al Subaie and Mr. Khalid Mubarak Al-Dulaimi
Image: Barwa Group

HE Mr. Hitmi bin Ali Al-Hitmi, Barwa chairman, accompanied by Mr. Abdulla Abdulaziz Al Subaie and Mr. Khalid Mubarak Al-Dulaimi, Board Member and a group of senior management executives visited Barwa Al Sadd project yesterday. This field visit comes in line with the Board strategic directions to conduct field visits to project sites to ensure work is under progress according to schedule. It is expected that the project shall be completed in 18th of June 2011 ahead of schedule.

BARWA Al Sadd is a sizeable top end commercial and residential complex covering an area of 27,654 sq m, being developed on Suheim Bin Hamad Street (C Ring Road) in Doha. The project consists of three office towers, two of 21 floors and the other of 18, and a five star hotel with 238 rooms and suites. All of these surround a four-level podium, two floors of which are dedicated to retail shops and the remainder being for office space. The BARWA Al Sadd development includes three ten-storey apartment buildings, a three storey recreational building, three level basements and a five storey car park building that will accommodate a total of 1736 cars and a utility building.

"I'm keeping an eye on our projects progress through the periodic reports and updates, but site visit is important to see the works completed. I'm really proud of the project, the project team and other Barwa projects team," commented Mr. Al-Hitimi during his visit.

It is scheduled that Barwa headquarters shall be moved during the 1st quarter of 2012 upon completion of all necessary finishing and furnishing.

Other Barwa projects are under progress. BARWA City is now 78% completed, built on a sprawling 2.7 million sq m plot in Mesaimeer and being developed in two phases. The first phase at a cost of over QR 7.1 bn, is expected to be entirely completed by the end of 2011. This phase of the development includes the construction of 128 residential buildings that will offer tenants nearly 6,000 apartments that accommodate up to 25,000 people. Ready for occupancy by the middle of 2011, this will also include schools, kindergartens, mosques, a bank, a health club, food and sports courts, a shopping mall and multipurpose hall and other amenities that are all expected to be in place by the end of 2011. The development also will include district cooling for cold water and climate control and LPG for hot water and cooking. The second phase will include major additional projects including further schools, a 250-bed hospital, kindergartens, residential and commercial complexes, and a hotel.

BARWA Commercial Avenue which is currently around 65% complete is a ground-breaking 8 kilometer-long mixed use development close to Qatar's industrial area that will offer 547 retail spaces and 460 residential units and offices with a total built up area of 1.0 million sq m. Spacious public areas will have food courts, groceries, pharmacies, restaurants, shopping malls, and other amenities. Set to be completed in Q2 2012, the QR 7.1 billion Commercial Avenue has targeted Qatar's young entrepreneurs and investors with its modern and flexible design.

Barwa Real Estate has recently inked a framework agreement with Qatar Petroleum (QP). Barwa Financial District (BFD) Company will develop its iconic project to become QP's headquarter complex. Upon completion, BFD will transfer ownership to QP, who will own and occupy the development. The deal will see Barwa Real Estate delivering a turnkey scheme for Qatar Petroleum, enabling QP to commence operations with immediate effect from the first day of delivery.

About Barwa Group:
BARWA is one of Qatar's leading real estate and investment companies, established in 2005 with the mission of contributing to the sustainable growth of Qatar by investing in businesses, services and expertise. With business interests in real-estate, infrastructure, business services and financial services, BARWA's drive and determination comes from working in tandem with the Qatari Government's overarching development plan, the Qatar Vision 2030, which stresses human, social, economic and environmental development. BARWA's flagship projects include: Barwa Financial District, Barwa Commercial Avenue, Barwa Al Sadd, Barwa Village, Barwa Al Khor, Masaken Al Sailiyah and Musaimeer.

Further Information:
www.barwa.com.qa

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