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Posted On: 3 November 2008 07:48 am
Updated On: 12 November 2020 02:08 pm

Barwa launches QR35bn city project in Al Khor

Khalifa Al Haroon
Khalifa Al Haroon
Your friendly neighborhood Qatari
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Urjuan, a mammoth QR35bn integrated eco-friendly city, capable of housing more than 63,000 residents, will be launched by Barwa Al Khor, a subsidiary of Barwa Real Estate (Qatar). Barwa Al Khor, a joint venture between Barwa Real Estate (Qatar) and Al Imtiaz Investment (Kuwait), was established in May 2006 with the aim of buying and developing land in the creek area. Located in Al Khor along the Corniche, the Urjuan project will be built over 5.5mn sq m and is expected to be completed by mid-2013. Announcing this yesterday, Barwa chairman and managing director Ghanem bin Saad al-Saad said the construction of buildings in the proposed city would be carried out along with the infrastructure works. He said although the pre-construction works were already under way. Phase 1 of the construction work is due to start early next year. Canadian architect Cansult Maunsell has designed the high-profile development, which, according to the promoters, will have at least 24,500 houses consisting of a beachfront luxury hotel and resort featuring private chalets, townhouses and terraced townhouses, and luxurious apartments. The township will also comprise shopping malls, souqs, leisure facilities, open gardens and other tourist attractions. A 13-storey business hotel and 18-hole speciality golf course with private villa golf estates will also be part of the city’s other attractions, Saad al-Saad said. The chairman said Barwa’s interest and eventual entry into Al Khor and suburbs had been born out of the company’s vision to create a city development, inspired by a culturally rich metropolis’ heritage. “It is certain to give investors unique investment opportunities and at the same time creates an architectural marvel making ‘Urjuan’ a top destination.” The Barwa chairman lauded the “overwhelming support” being given by Qatari leaders to the development of Al Khor. Expressing hope that the government’s ongoing efforts will transform the country into a regional hub for tourist and businesses, Saad al-Saad said Barwa was confident of the marketability of the project. “Now that we have formally announced the project’s launch, we are expecting the sales of units to gain momentum.” On the project’s viability and feasibility, the Barwa chairman said, “We have conducted full feasibility studies on Al Khor prior to planning our Urjuan project to tailor-fit the development’s design to complement the area’s rich cultural history and striking environmental landscape.” “We are most excited to witness the realisation of our vision for Urjuan, in particular the evenly distributed buildings, which will be strategically built to provide majestic views of the Arabian Gulf and the marinas that will dominate the development’s shores,” said Saad al-Saad. The chairman said Barwa’s main focus was to leverage the area’s excellent marine resources to turn the traditionally strong pearl fishing centre into a global tourist spot. The Urjuan project will be sold in many phases offering customers and investors, residential and commercial plot options and properties. The first phase of sales is expected to kick off later this month, he said. Saad-al-Saad also asserted that the company’s main priority in Qatar had been residential properties and would continue to be so in coming years. “We would do whatever possible to ensure that rents of our properties remain affordable to the country’s residents, especially at a time when rents are very high in the country,” he said. When asked if the company foresaw any chances of becoming the country’s sole regulatory authority of residential properties, Saad al-Saad replied in the negative. “Our policy is to support investments in the real estate development in Qatar and thus attract more investments to the country.” He said the development currently witnessed in Al Khor and surroundings was part of the ‘Qatar 2025’ plan set by the Urban Planning and Development Authority. Speaking later, Barwa Al Khor CEO Youssef Ahmed al-Hammidi said the remarkable number of residential properties within the proposed city would provide attractive opportunities to regional and global investors and end-users who are looking for good returns on their investments. Al-Hammidi said Barwa Al-Khor had partnered with many leading firms in construction, design, and project management, and created a development company to work with on the latest project. “The Urjuan project will be another landmark development in Qatar, placing the area on the map of the most ideal destinations for mega projects in the Middle East,” he said. GT