Barwa Real Estate intends to launch the construction works for "Our City" and "Barahat Al Janoub" and to sign the development award of the two projects with Urbacon to implement the construction works.

25-10-2020


Barwa Real Estate Group announced the launch of construction works for two new projects on two plots of land leased from the State Property Administration in Al Wakrah. The first is “Our City” project, which is a residential city for families, and the second project is “Barahat Al Janoub”, a residential city for the working class. To that effect a launch event will be hosted today, Sunday, October 25th, at the "Our City" project site. During the launch ceremony, the award for developing the two projects will be signed with Urbacon Trading & Contracting Company.
The two projects aim to provide a high-quality standard of living for various segments of society within modern residential cities with integrated services.
The contract value is 5,010,065,650 Qatari riyals (five billion ten million and sixty five thousand six hundred and fifty Qatari riyals), the development work for the two projects shall be completed in May 2022. It is expected that the two new projects, upon their completion, will contribute to increasing the group's operating revenues and enhancing the sustainable growth of shareholders ’returns. . It should also be noted that there is no conflict of interest.
It is worth noting that the "Our City" project extends over an area of 1,141,689 square meters and accommodates approximately 27 thousand people. The project will provide hypermarket, retail stores, mosques and other public utility services, bringing the total built-up area to approximately 1,035,554 square meters.
As for the "Baraha Al-Janoub" project, it extends over a land of 773,457 square meters, with a capacity of about 67,360 workers, as it provides hypermarkets, retail stores, mosques and other public services and facilities, bringing the total built-up area to approximately 750,742 square meters.
 


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