Barwa to invest QR15 bn to build 12,000 houses

Barwa Real Estate Company plans to invest QR15 billion for the construction of 12,000 housing units at reasonable rents in the country in the next few years, its chief executive officer has said.

“It is our national duty to provide houses at reasonable rents and for this we have a lot of projects that will cater to the mid and mid-high segment. We are the only company to provide houses at reasonable rents and we are a market leader in this,” Salman bin Mohamad al Muhanadi told reporters on Sunday.

Elaborating on the proposed projects, Muhanadi said all the residential projects would be completed by 2020. He said the largest project would be Barwa Al Doha that will consist of 1,970 residential units,

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He said other projects that the company will start working on this year includes the extension of Barwa Village and Barwa Mesaimeer residential complexes.

Giving an update on the progress of the Barwa Motor City, Muhanadi said the tender for the first phase of the project began today (Sunday) and the completion of the project is expected in mid-2017.