"Barwa Real Estate is pleased to announce that it has been awarded a tender to Build, Operate, and Transfer (BOT) the Low Cost Warehousing for the plot no. 4 (Site B) of Manateq.
Manateq (Economic Zones Company) is a shareholding company established by the Minister of Business and Trade of the State of Qatar under decision No. 272 in the year 2011. Chaired by His Excellency Sheikh Ahmed Bin Jassim Al Thani, Minister of Economy and Commerce, Manateq is owned by the Qatari Government represented by Qatar’s Authority for SMEs.
Being awarded this project, Barwa undertakes the development of these low cost warehousing solutions, within a period of 24 months, and under a lease agreement of 25 years. The total approximate cost of this project will amount to QAR 750,000,000.
The Letter of Intent (LOI) was executed on the 14th of Dec 2014 between Barwa Real Estate, Qatar Ministry of Economy & Commerce, and Manateq.
This project aims at increasing the presence of Barwa in the local Qatari market, and diversity its investments in line with the nature of its business and activities. Additionally, this project will lead to reinforce Barwa’s Financial position, through the income from the operating activities for the 25 years lease period.
Barwa asserts that there is no conflict of interest between the Barwa and Manateq."