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.


 






  MENA News Headlines
 Aug 28 2014 - IMF chief Christine Lagarde under investigationKhaleej Times
(MENAFN - Khaleej Times) The source said Lagarde who earlier was questioned by magistrates in Paris under her existing status as a witness considered their decision to investigate her for alleged ...

 Aug 28 2014 - Modi slams whispering campaign against home ministerKhaleej Times
(MENAFN - Khaleej Times) Rajnath Singh gave an emotional statement to the media saying he would quit public life if reports about his adult son proved to be true.Indian Prime Minister Narendra Modi ...

 Aug 28 2014 - Work-shirkers in in Indian tax dept to face musicKhaleej Times
(MENAFN - Khaleej Times) As part of Prime Minister Modis Clean India Campaign the CBDT also asked its controlling and administrative officers to conduct surprise checks of the staff attendance and ...

 Aug 28 2014 - PM should apply wisdom on tainted MPs says Indian SCKhaleej Times
(MENAFN - Khaleej Times) Top court says people with criminal record are not expected to become part of government.India’s top court said Wednesday lawmakers with criminal backgrounds should not ...

 Aug 28 2014 - Indian PM Narendra Modi eyes breakthrough nuclear pact on Japan tripKhaleej Times
(MENAFN - Khaleej Times) Narendra Modi travels to Japan on Saturday for a five-day visit his first major bilateral trip since taking over in May.India is hoping to win Japanese backing for a nuclear ...

 Aug 28 2014 - Season II of 24 will be as thrilling as first one promises Anil KapoorKhaleej Times
(MENAFN - Khaleej Times) Anil who featured in the eighth season of the US version of the show played Anti-Terrorist Unit chief Jai Singh Rathod in the desi version which he produced for channel ...

 Aug 28 2014 - Breaking Bad and Modern Family bag trophies at glitzy Emmy AwardsKhaleej Times
(MENAFN - Khaleej Times) ABCs Modern Family won a fifth best comedy series Emmy tying the record set by Frasier while the final season of AMCs Breaking Bad captured the top drama award and a trio of ...

 Aug 28 2014 - Bipasha Basus double date with DubaiKhaleej Times
(MENAFN - Khaleej Times) Bipasha will walk the ramp for India Fashion Week that is being held from 4-6 September at Jumeirah Emirates Towers.Bollywood hottie Bipasha Basu will be in Dubai for two ...

 Aug 28 2014 - Katrina Kaif's sister to dance to 'Dal Makhani'Khaleej Times
(MENAFN - Khaleej Times) Katrina Kaif keeps close watch on sister Izabelles debut movie Dr.Katrina Kaif’s sister Izabelle loves Indian food specially Dal Makhani. So the team of Indo-Canadian ...

 Aug 28 2014 - Morais opens up on his novel 'The Hundred-Foot Journey'Khaleej Times
(MENAFN - Khaleej Times) We speak to Hundred-Foot Journey author Richard C.A deep love of food and and an old friendship prompted journalist and author Richard C. Morais to write his cross-cultural ...

more...


 






Google

 
 

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