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Barwa inks Madinat Al Mawater Phase Two contracts

DOHA, May 22, 2017

Barwa Real Estate Company, a leading real estate developer in Qatar, has awarded a construction contract worth QR112.5 million ($31 million) to Insha Contracting and Trading Company for the second phase of its ambitious Madinat Al Mawater project.

The Barwa announcement comes following the success of the project's first phase.

Located on Salwa International Road, at the intersection leading to Rawdat Rashid and opposite Aqua Park, Madinat Al Mawater project will be the largest destination in Qatar for the sale, purchase and maintenance of used cars as well as their spare parts.

It will also include residential units, a petrol station and vehicle inspection service (Fahes), in addition to service areas including restaurants, mosques, and allocated area for auctions, traffic and health services among other services for both tenants and visitors, said the developer.

Insha Contracting and Trading Company, which completed Phase One of Madinat Al Mawater project, aims to finish Phase Two work within a year.

Group CEO Salman bin Mohammed Al Mohannadi said Barwa was committed to exert all efforts to complete the development of the project and all its phases in the shortest possible time, "as it is a source of pride for the group".
 
Al Mohannadi said the group was now preparing a market survey to identify the needs of the used car market so as to fulfil them in the next phases of the project.

With a total built-up area of 35,607 sq m, Phase Two comprises 59 used car showrooms, 176 residential units, 10 commercial shops and five workshops, in addition to the necessary infrastructure, including two power substations, internal connecting roads and networks for drinking water, fire, irrigation, rainwater, sewage and surveillance cameras with all related services such as pump rooms, water and irrigation tanks, as well as sewage treatment plant.

Furthermore, it will include a petrol station and vehicle inspection service area with a total area of 26,000 sq m.

Al Mohannadi pointed out that Barwa had completed the signing of all lease contracts of Phase One of the project.

"Impressed with the confidence and support shown by the tenants for the first phase of the project, Barwa has rewarded them by giving 50 per cent discount on their rent value for the first six months, starting from the expiry of the grace period of three months," he added.​​​​​​​-TradeArabia News Service




Tags: Barwa | contracts | Mixed-use project |

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