Barwa’s new Board of Directors visits Barwa Commercial Avenue Project
HE Mr. Hitmi bin Ali Al-Hitmi, Barwa chairman, accompanied by Mr. Abdulla Abdulaziz Al Subaie Barwa Group CEO and the new Board of Directors visited Barwa Commercial Avenue project on Saturday. The field visit is in line with the Board’s strategic policy to tour project sites to receive updates on progress and ensure work is on schedule.
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.
“It is important to make regular visits to our developments to make sure everything is on track and within timeline and get updates on our projects’ progress. This is a signature project of which we are particularly proud with its contemporary design features, providing a new hub for young enterprise in Qatar,” commented Mr. Al-Hitimi during his visit.
Another Barwa project recently visited by the Board recently is due to be completed on 18th June, ahead of schedule. BARWA Al Sadd is a substantial 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, 3 level basements, a 5 storey car park building that will accommodate a total of 1736 cars and a utility building. Barwa headquarters plans to move to Al Sadd in the first quarter of 2012.
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.
A recently signed framework agreement with Qatar Petroleum (QP) will see Barwa Financial District (BFD) Company handing over its award-winning 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.
Barwa's foundations were laid on 15 November 2005, when it obtained its commercial license. The group's name derives from an important principle in Qatar's commercial heritage - the concept of a reliable and trustworthy agreement or contract. These values form the core of our corporate personality.
Since its establishment, Barwa has proven to be a dynamic and powerful contributor towards the development of Qatar. We seek to contribute to the government's over-arching development plan for Qatar as set out in the Qatar National Vision 2030 which has been launched and is being sponsored by His Highness Sheikh / Tamim bin Hamad Al Thani – The Emir.
Buy credits to publish your articles on Al Bawaba Biz here