Doha - October 2020
Barwa Real Estate Group is currently studying the development of residential projects for the low- and middle-income, with designs inspired by the modern architectural style and the standards of integrated residential cities. Those projects aim to improve the living standards of low and middle class income groups and ultimately lift the living standards of the Qatari community.
Barwa Real Estate is looking at vital areas for the construction of these projects in order to ensure benefiting from the advanced infrastructure of the highway network, the different transportation services, and the developmental and logistical projects in the state of Qatar. In addition to providing all services that meet the aspirations of its potential customers.
Barwa's corporate strategy will ensure maximum leverage on its upcoming projects and investments, to meet customer needs in the long term, and enhance its position as a strategic real estate developer in Qatar. highlighted through the vital contribution of the group in supporting national plans aiming to diversify the state's resources in order to achieve sustainable development.
Fostering the Community
Mr. Abdullah Bin Jobara Al-Rumaihi, Acting CEO of Barwa Real Estate Group, commented on Barwa upcoming projects saying: "Barwa investment plans consolidate the principles of the strategic partnership between the group and the government of Qatar. Not only those projects will release real estate units into the market, they will first and foremost add a human dimension to Barwa footprint in the real estate market, creating a real difference in the lives of those individuals and for the entire community from a bigger perspective. Additionally, Barwa upcoming projects will maximize shareholder returns, and achieve balance for the Barwa asset portfolio".
Mr. Al-Rumaihi added: "Barwa will continue developing pioneering residential cities and developmental projects which address the needs of the real estate market, create sustainable communities, as per the highest standards and specifications, and reflect the growth in population and in urban development in Qatar, all in line with the Qatar National Vision 2030."
Partnering with National Companies
Mr. Al-Rumaihi elaborated that after completing the study for the low and middle class income residential projects, the group will take into consideration partnering with national companies for implementation. Choosing partners who add value to the project through their experience and efficiency. Acting Group CEO also stressed that Barwa is keen to improve the quality of life for low and middle class income groups, providing high quality residential units for reasonable prices.
Focusing on Residential
The low- and middle-income groups enjoy a unique position in Barwa real estate investment portfolio. Those upcoming opportunities are a continuation of what the group has started long time back by developing Masaken Mesaimeer and Masaken Al Sailiya, which had contributed, at the time, to alleviating the impact of the housing crisis and limiting the rise in residential rental values caused by the exceptional situation imposed on the real estate market in that era, as a result of the tremendous economic growth of the State of Qatar. This residential development which was established on two separate locations, provides 1984 residential units and integrated service facilities into the Qatari market.
It is noted, that during the year 2019, Barwa released 8,129 residential units in the Qatari market. This confirms the group's commitment towards social responsibility, and its role developing sustainable communities that provide real estate solutions, and integrated facilities.
Barwa Real Estate is being positively perceived by the community for brining social and economic dimensions into the concepts of sustainability. The group is keen to create a suitable living environment by integrating its investments to include residential, commercial, logistical and educational institutions, which embodies the true meaning of the sustainable cities.