Quotes: 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 i 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 26 2016 - Saudi- Moderate quakes rattle Japan no injuries or damage reportedSaudi Press Agency
(MENAFN - Saudi Press Agency) TOKYO, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- A pair of moderate earthquakes rattled northern and southern Japan on Monday, but there were no immediate ...

 Sep 26 2016 - Pakistan launches polio vaccination drive amid tight securitySaudi Press Agency
(MENAFN - Saudi Press Agency) Islamabad, 25 Dhu-AlHijjah,1437 AH, 26 September,2016 , SPA -- Pakistan on Monday launched a three-day national anti-polio campaign to vaccinate around 37 million ...

 Sep 26 2016 - Kuwait- His Highness the Amir Sheikh Sabah Al-Ahmad consoles Egypt on boat sinking victimsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Sept 26 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah has addressed a cable to Egyptian President Abdel Fattah Al-Sisi ...

 Sep 26 2016 - Kuwait- KSE indexes inch down in early trades MondayKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Sept 26 (KUNA) -- Main indexes of Kuwait Stock Exchange (KSE) edged down in early trades on Monday, with the benchmark losing 1.19 points and falling to ...

 Sep 26 2016 - Kuwait takes part in meeting with Asian nations to deepen cooperationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) By Abdullah Boqas KUALA LUMPUR, Sept 26 (KUNA) -- A Kuwaiti legislative delegation headed by MP Humoud Al-Hamdan is taking part the First Executive Council ...

 Sep 26 2016 - Kuwait- KUNA main news for Monday, Sept 26, 2016Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Local: KUWAIT -- Minister of Information, Minister of State for Youth Affairs Sheikh Salman Al-Humoud Al-Sabah patronizes the media leaders conference. ...

 Sep 26 2016 - Kuwaiti motorcyclist wins competitions in U.S.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Sept 26 (KUNA) -- The Kuwaiti motor-cyclist Muaz Al-Ansari came first in the first and second rounds of the Trans-World championship held in California, ...

 Sep 26 2016 - Kuwait- India launches eight satellites in a single missionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) NEW DELHI, Sept 26 (KUNA) -- Indian Space Research Organisation (ISRO) on Monday launched eight satellites using its Polar Satellite Launch Vehicle (PSLV C 35) ...

 Sep 26 2016 - Kuwaiti rider grabs first, second places in Aquabike World ChampionshipKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) By Ahmad Al-Rifaee KUWAIT, Sept 26 (KUNA) -- Kuwaiti rider Yousef Al-Abdulrazzaq grabbed the first and second places in third round of Aquabike World ...

 Sep 26 2016 - Kuwait- Hollande vows to close Jungle refugee camp, urges British helpKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) PARIS, Sept 26 (KUNA) -- French President Francois Hollande on Monday vowed to close a controversial refugee camp near the Channel port city of Calais, and he ...

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help