BARWA PLANS MORE PROJECTS
Barwa Real Estate group has announced Fox Hills North project in Lusail City, which will have 3,000 units and whose work will start later this year.
The company also plans to launch Barwa Al Doha, which will be developed as a strip retail, catering to local merchant traders.
According to company chairman Salah bin Ghanim Al Ali, work on the second phase of Barwa Al Barah was progressing smoothly and along with its first phase, it will accommodate 53,000 workers.
Barwa had acquired the strip of land on the eastern boundary of Barwa Village in December 2012, which has good road frontage with high passing traffic and it controls the arrival experience into Barwa Village making the land attractive to retail tenants.
Ghanim Al Ali said that Barwa Al Sadd Hotel Tower, which was sold to Katara Hospitality, is almost complete and will start operations in the second quarter of 2014. Barwa Al Khor residential project consisting of 300 residential apartments and 50 villas for Qatar Shell staff is progressing well and is on target to achieve the contractual completion date of fourth quarter of 2014.
Barwa Real Estate's net profit for 2013 has risen by 27.3% to QR1.4 billion compared with QR1.1 billion in the prior year.