Qatari Diar and BARWA announced the signing of a Memorandum of Understanding with “SUEZ”, a world leading international industrial service group, to lay out the fundamental scope and terms to establish Multi-Utility Company. The purpose of the new joint venture is to provide and facilitate master planning, design, construction, operations and maintenance of facilities and related services in the field of water treatment and distribution, wastewater collection and treatment, power transmission and distribution, energy services, solid waste collection and treatment; in addition to telecommunications and information technology.
Qatari Diar and BARWA’s efforts came along to provide strategic planning and complete solutions in the management of utilities to face the global challenges in preserving natural resources, restraining energy consumption and reducing gas emissions to strengthen the economical and social growth of the state Qatar.
Mr. Ghanem bin Saad Al Saad, Chairman of the Board & Managing Director of BARWA, signed the MOU with Mr. Gerard Mestrallet, Chairman of the Board & CEO of “SUEZ”, in Paris - France on Saturday the 24th of May 2008.
Commenting on the MOU signing, Mr. Ghanem said: “the objective of the joint venture with “SUEZ” is to establish Multi-Utility Company to provide and facilitate the environmental essential needs of every member in the state of Qatar. Qatari Diar and BARWA’s strategic objective is to strengthen the economical and social growth of our communities through developing and implementing world class projects in the field public utility services”.
Mr. Gerard commenting saying: “SUEZ relies on values and abilities which are unique to meet the essential needs of every member in the society. Our operations are based on three fundamental principles: commitment, performance and responsibility”.
“our joint venture with Qatari Diar and BARWA will allow us to venture into new markets and provide complete and developed utility solutions to strengthen the economic and social growth in the State of Qatar” Gerard added.
About Qatari Diar:
Qatari Diar is the organisation entrusted with realising our country’s vision for a beautiful built environment, new sustainable communities and developments which catch the imagination of a world audience.
We are a major player in Qatar’s emergence as a vibrant investment, commercial, cultural and social community. We are the region’s most influential and innovative real estate investment company – a master developer and planner whose mission is to promote a better quality of life by creating distinguished legacy developments, planned, built and managed to internationally recognised standards.
Qatari Diar is fully owned by the Qatar Investment Authority and was founded to support Qatar’s rapidly expanding economy and to provide structure and quality control for the country’s real estate development priorities.
Capitalized at US$1 billion, we have the investment resources to be truly innovative and forward-thinking. The company is founded on the world’s best-practice project management disciplines, enabling us to impact on the built environment to enrich and enhance the quality of life of the communities we serve. Although only launched in March 2005, the company currently has 18 projects underway.
Qatari Diar is building signature projects and facilitating vibrant, new communities on an unprecedented scale. These range from our involvement with affordable housing schemes with joint-venture partner, BARWA, to the new Doha Convention Centre and Tower, a new landmark on the Doha skyline, the Ras Al-Hadd eco-tourism resort in Oman and the giant Lusail project in Qatar.
www.qataridiar.com
About BARWA:
BARWA is a public company that hosts many activities. Among BARWA’s other real estate related activities are; Property management, Facility management, Precast construction material production. In the course of our work we have also engaged in a few key non real estate related activities such as Banking, environmental activities, and health. Some aspects of our work have led to us leading in the introduction of environmentally sustainable practices like district cooling and similarly committed strategies.
About SUEZ:
SUEZ, an international industrial and services Group, designs sustainable and innovative solutions for the management of public utilities as a partner of public authorities, businesses and individuals. The Group aims to answer essential needs in electricity, natural gas, energy services, water and waste management.
For more than 150 years, SUEZ companies have been providing for cities and businesses as they are challenged with new constraints tied to demographic growth, urbanization, higher standards of living and environmental protection. To meet their expanding needs efficiently, the Group has focused its businesses on five major challenges: local rootedness, market shifts, the fight against climate change, resource preservation and the quality of life of populations.
