Barwa Real Estate hosted a dinner at the Four Seasons Hotel in Doha on 28 March to present the Barwa Commercial Avenue development to an invited audience of business owners, entrepreneurs and investors. All invited senior officials, investors and entrepreneurs attended the event. The Chairman of Barwa Real Estate, Mr Ghanem Bin Saad Al Saad, and a number of senior representatives of Barwa Real Estate and other group companies involved in the project headed the reception ceremony of guests.
Mr Ghanem Bin Saad Al Saad said: “This extraordinary project was initiated back in 2008 as a direct response to Qatar’s booming economy and since inception, and as adoption to a unique approach of horizontal urban development to establish new urban and developmental communities. Stretching over eight kilometers, extending over one half million of land and yielding over one million square meters of built-up area, Barwa Commercial Avenue is a record-breaking project in terms of being constructed by a single developer and it is undoubtedly a symbol of things to come in Qatar. Anyone who drives in the area surrounding Barwa Commercial Avenue would realize how this mixed use development transformed and shaped the entire landscape of Ain Khaled area into a new dynamic context and planted the seed of having a vibrant commercial and residential precinct served with world class infrastructure and accessible through a super roads network with more than 60% of completion.”
He added: “As the largest listed real estate company in Qatar we also aim to deliver sustainable high returns to our shareholders over the long term. At the same time, Barwa aims to support the sustainable growth of Qatar and build its future by investing in businesses, services and expertise both locally and internationally. Both strategic goals are interwoven together in an integrated manner.”
Barwa Commercial Avenue will be the largest retail and commercial project of its kind in Qatar with 500,000 sq m of retail space. It will accommodate different configurations that can house all types of businesses. Barwa Commercial Avenue will also have around 11,600 parking spaces. The project enjoys world class quality specifications which is a landmark of all Barwa projects. In addition, the project contains district cooling facility and a property management and maintenance service run by one of the top specialized agencies in this regard.
As a Barwa property it will benefit from the same level of maintenance and high quality construction and fit out that our other developments have become well known for. The 1st phase of Barwa Commercial Avenue is scheduled to be completed by mid-2012.