BARWA Al Khor, a subsidiary of BARWA Real Estate and a leading master developer of high profile projects, announced the launch of their flagship project 'Urjuan', a QR 35 billion (USD 10 billion) integrated city development located in Al Khor, at a press conference held today (November 02, 2008) at the Four Seasons Hotel in Doha, Qatar. The developer has also revealed that the construction of the 5.5 million square metre city development will accommodate over 63,000 residents upon its completion by 2013. Mr. Ghanem Bin Saad Al Saad, Chairman and Managing Director of BARWA Real Estate, was present at the press conference along with Eng. Youssef Ahmed Al Hammadi, CEO of BARWA Al Khor. In addition, the developer has also announced plans to hold a one-day exhibition for the project at the Sheraton Hotel in Doha commencing on November 05, 2008.
Named after an ancient and valuable dye-like substance, from which the colour royal purple is derived from and which is native to the Al Khor area, the ‘Urjuan’ project is a modern city, which represents Qatar’s rapid economic growth and its efforts to preserve its cultural heritage. Designed by Canadian Cansult Maunsell, the high profile development is set to offer more than 24,500 housing units consisting of a beachfront luxury hotel & resort featuring private chalets, townhouses and terraced townhouses, and luxurious apartments. Commercial businesses including shopping malls, souks, leisure facilities, open gardens and tourist attractions such as a G+12 business hotel and an 18-hole specialty golf course with private villa golf estates will also be part of the city development.
Speaking at the press conference, Mr. Ghanem Bin Saad Al Saad said: “Our interest and eventual venture into the Al Khor area has been born out of our vision to create a city development inspired by the heritage of a culturally-rich metropolis, which will offer investors unique investment opportunities and at the same time creates an architectural marvel making ‘Urjuan’ a top destination. The outstanding support being given by the Qatari leaders in the development of the Al Khor area plays a great role in the transformation of the country into a regional hub for tourists and businesses, and we intend to leverage this fully with this project. We are confident of the marketability of this iconic project and we are expecting the sales of units to gain momentum now that we have formally launched the development into the market.”
“We have conducted full feasibility studies on Al Khor prior to planning our ‘Urjuan’ project, to tailor-fit the development’s design to complement the area’s rich history and striking environmental landscape. We are most excited to witness the realization of our vision for ‘Urjuan’, especially the evenly distributed buildings, which will be strategically located to provide majestic views of the Arabian Gulf and the marinas that will dominate the development’s shores. True to its origin as a pearl fishing centre, our focus is to leverage the area’s excellent marine resources and turn it into a global tourist spot,” added Al Saad.
The strategic location of ‘Urjuan’ development and its close proximity to Ras Laffan and other prime areas around Qatar will provide residents and investors the ideal, self-sustained, urban community. The ‘Urjuan’ project will be sold in several phases offering customers and investors residential and commercial plot options and properties, with the first sales phase beginning in November 2008. Expected to be the next hotspot for residence and business in Qatar, Al Khor is currently witnessing heavy construction works as part of the ‘Qatar 2025’ plan set by the ‘Urban Planning and Development Authority’.
“We are confident that the significant number of residential properties within this city development will provide attractive opportunities to a variety of regional and global investors and end-users who are looking for high R.O.I,” said Eng. Youssef Ahmed Al Hammadi.
“We have partnered with leading companies in construction, design, and project management, and created a development company to work with us on this unique project, thereby ensuring design superiority and unparalleled services for our customers. The ‘Urjuan' project will be another landmark development in Qatar, placing the area on the map of the most ideal destinations for mega projects in the Middle East,” added Al Hammadi.
Located 50 kilometres to the north of Doha, Al Khor boasts of an old city charm that blends well with the massive development, which it is currently witnessing, without compromising its identity. BARWA Al Khor is committed to preserving the heritage of the Al Khor area and its unique environment while creating a community spirit that brings together residents from all cultures through the ‘Urjuan’ project.
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