Qatar - Barwa Real Estate's 'Madinatna' and 'Barahat Al Janoub' projects to be completed this year

The construction works of Barwa Real Estate Company's 'Madinatna' and 'Barahat Al Janoub' housing projects will be completed this year, it was announced on Sunday.
Addressing the company's ordinary general assembly, Abdullah bin Jubara al-Rumaihi, CEO, Barwa Real Estate Group said it will play its role to contribute to meeting the needs of the FIFA World Cup 2022.
The first step was executing a lease contract with the Supreme Committee for Delivery & Legacy, for the purpose of leasing all housing units in the Madinatna project, for a period of six months, from August 1. It is expected that this contract will contribute in increasing the company's operating income during the lease term.
Furthermore, he said Barwa Real Estate Group is continuing work as per the timeline on the Qatar Schools Project (Package 1) to develop eight sustainable schools as a“true legacy for future generations.”
He pointed out that project has reached an“advanced stage” and expected to be commissioned at the beginning of the 2022-2023 academic year.
Al-Rumaihi also stressed that these projects deepen the principle of Barwa's“strategic partnership” with the Government.
During the meeting, HE Salah bin Ghanem bin Nasser al-Ali, chairman, Board of Directors, Barwa Real Estate Company reviewed the BoD report, which included a comprehensive overview of its activities, performance and consolidated financial statements for the year 2021, as well as its future plans.
HE Al-Ali said: 'During 2021, Barwa Real Estate Group managed to maintain its leadership in the field of real estate development, thanks to the tremendous efforts exerted by the members of the Board, executive management and all employees and company's subsidiaries, despite the ongoing challenges and difficulties resulting from the repercussions of Covid-19 pandemic.
He commended the distinguished efforts of the State in facing such repercussions by providing multiple support packages to the national economy in general and the real estate sector in particular.
“One of the main objectives of the company is to develop a balanced real estate portfolio that faces the risk of fluctuations in the real estate market, meets its needs, supports the development plans of the state and takes into account the corporate social responsibility (CSR); in a way that increases sustainable returns for shareholders,” HE al-Ali said.
The Ordinary General Assembly approved the proposal of the Board of Directors to distribute cash dividends of QR0.175 per share (17.5% of the nominal share value).

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