Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Barwa to Sell City Project to Qatari Diar Subsidiary for QR 7.57 Billion  Join our daily free Newsletter

MENAFN - Qatar News Agency - 07/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Qatar News Agency) r/>Doha May 07 - Doha May 07 - Barwa Real Estate Company has signed a deal worth QR 7.57 Billion (US 2.08 Billion) to sell Barwa City project to Labregah Real Estate Company a wholly-owned Qatari Diar Real Estate Investment Company subsidiary.

The transaction is subject conditions and the purchase price is subject to adjustment according to a statement published Wednesday by Qatar Exchange.

On Monday Qatar's largest listed real estate company said this month it is starting construction work for Package 2 of the second phase of Barwa Al Baraha project.

It is the largest development project for workers living in Qatar.

Package 2 comprises 32 buildings G 3 floors and each building will have 130 rooms that will accommodate 24000 workers. It will also have four dining halls two playgrounds two mosques as well as restaurants and utility shops.

"This is a commitment towards building a society where people from different social backgrounds live in harmony and raising living standards of those with little income" Barwa said.

Measuring approximately 1.8 million square meters Barwa Al Baraha development is designed to serve as an integrated workers' city that will accommodate 53000 workers and employees making it the GCC's largest workers' accommodation.

Barwa is developing the project in two phases.

Phase one focuses on establishing Qatar's largest truck and vehicle parking space while phase two will provide worker and staff accommodation pre-owned car show rooms auctions workshops and stores for truck and machinery maintenance services.

Facilities include a hotel entertainment centre mall laundry health centre mosque Islamic centre police station civil defence centre fire-control centre sports facilities shops restaurants and offices.


 


Qatar News Agency




  MENA News Headlines
 Sep 15 2014 - Zain KSA makes new offer on data prepaid packagesArab News
(MENAFN - Arab News) Zain KSA launched its new offer for data packages which allows subscribers to enjoy the high speed Internet service with a 10 GB Data SIM valid for 3 months for SR80.The new ...

 Sep 15 2014 - Saudi- Mobily Forum for App Developers names five prize-winnersArab News
(MENAFN - Arab News) Mobily concluded on Saturday the activities of Mobily Forum for App Developers 2014 in Riyadh by naming five prize-winners after their apps passed the voting phase and jury ...

 Sep 15 2014 - Saudi- LG unveils new products at B2B dealer meetingsArab News
(MENAFN - Arab News) LG Electronics has held LG Dealer Seminar 2014 respectively in Jeddah and Riyadh where LG showcased its new projectors.The Jeddah seminar held on Sept. 1 was followed by another ...

 Sep 15 2014 - Nexen Tire N'blue Eco wins US Green Good Design AwardArab News
(MENAFN - Arab News) Nexen Tire N'blue Eco has been awarded the US Green Good Design Award 2014. Nexen Tire is stated to be the first in the industry to win the award and it also is a great ...

 Sep 15 2014 - Boeing opens new R1&D office at KAUSTArab News
(MENAFN - Arab News) Boeing opened a Boeing Research & Technology (BR&T) office in partnership with the King Abdullah University of Science and Technology (KAUST) to develop aerospace ...

 Sep 15 2014 - China's export-led growth to support demand for Gulf's oil productsArab News
(MENAFN - Arab News) China's trade surplus reached a record high in August for the second consecutive month. The surplus widened to $49.8 billion in August from $47.3 billion in July. So far this ...

 Sep 15 2014 - Emaar seeks to raise 1.58bn from malls unit's IPOArab News
(MENAFN - Arab News) DUBAI: Dubai's Emaar Properties is seeking to raise as much as 5.8 billion dirhams ($1.58 billion) from an initial public offer of shares in its shopping malls unit that is ...

 Sep 15 2014 - Global oil gas executives to gather for Middle East forumArab News
(MENAFN - Arab News) Today having a comprehensive operational excellence management system (OEMS) is increasingly important. An OEMS is the cornerstone of a company's commitment to managing safety ...

 Sep 15 2014 - Dubai stocks surge Tadawul index slipsArab News
(MENAFN - Arab News) DUBAI: Dubai developer Emaar Properties lifted the emirate's bourse on Sunday after announcing the price range for the initial public offer of its shoppingmalls unit while ...

 Sep 15 2014 - Saudis own 742 of shares in 14 industrial projects with AustraliaArab News
(MENAFN - Arab News) Saudi investors own 74 percent of shares in 14 industrial projects jointly invested by Saudi and Australian businessmen in the Kingdom while 20 percent of shares go to the ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help