Barwa inks Pearl GTL leasing deal
Doha, March 28, 2011
Barwa, one of Qatar’s leading real estate and investment companies, has signed a leasing agreement with Pearl GTL for its new residential compound to be developed in Al Khor.
The Pearl GTL housing project is to be developed by Barwa's flagship project Barwa Al Khor which will provide 300 apartments and 50 villas for Pearl GTL staff.
The project, which is due for handover on January 1, 2014, aims to provide housing for its operators, technicians and shift supervisors who are responsible for the day-to-day operations at its plant at Ras Laffan.
Urjuan, a QR30 billion ($8.2 billion) waterfront development is seen as an ideal location to accommodate oil and gas professionals, because of its proximity to Ras Laffan Industrial City, approximately 20 km north of Al Khor.
Ghanim bin Saad Al-Saad, chairman of Barwa Al-Khor and chairman and managing director, Barwa Real Estate, said: “This agreement comes in line with the company's strategy to raise the bar in real estate industry in Qatar and promote and encourage the construction of new urban communities outside Doha.'
'In Barwa, we are striving hard to manifest our long-term strategy through a number of new developments which we early announced, such as Salwa Bay and Barwa Motor City, and a number of projects yet to be announced,' he noted.
Yousef Al-Hammadi, CEO, Barwa Al Khor, "We believe it will become a coveted destination because of our emphasis on developing a truly green living environment with superb landscaping, recreational facilities and convenience in a spectacular location on the coast."
KEO International Consultants will provide project management, engineering and structural engineering services.
Andy Brown, managing director, Pearl GTL, said: 'We look forward to being able to house our colleagues in the new Al Khor Shell compound with its high quality design features and wealth of amenities.'
'It will have unique buildings reflecting architectural presence. Feature landscaping will greet visitors and all the three bedroom villas will have private gardens in front and rear. High standard security will be provided in the form of CCTV and guardhouses.'
Recreational facilities will include swimming pools, sporting and entertainment facilities, outdoor sports areas, a clubhouse with a gym, squash courts and indoor games like badminton, volleyball, billiards and table football, he added.
There will be playgrounds for children and tot lots for infants. Other features will include covered car parking, a mini-market, day care centre, restaurant and mosque.-TradeArabia News Service
More Construction & Real Estate Stories
- Plaza Premium wins Abu Dhabi Airports contract
- Engineering experts attend Autodesk conference
- Dubai $114m freehold property in big demand
- Heavy Equipment enters Qatar market
- Bahrain market to get $15.8m facelift
- Jacky’s unveils new 3D printers
- Technip wins $400m Kuwait PMC contract
- Arab investors eyeing Turkish property
- Arabtec denies Drake merger speculation
- Saudi's ACWA signs $472m sukuk financing