Barwa awards $31mn Madinat AlMawater contract
Qatar’s ?Barwa Real Estate Company has awarded Insha Contracting and Trading Co. with a follow up contract to build phase 2 of its Madinat Al Mawater project, the contractor that built the first phase.
The contract value amounts to QAR 112.5mn ($31mn) with a construction duration of 12 months so as to meet the growing leasing demands on the project, Barwa said in a statement.
Phase 2 covers a built up area of 35,607 square meters and comprises of 59 used car showrooms, 176 residential units, 10 commercial shops and 5 workshops.
Work will also include necessary infrastructure, including two power substations, internal connecting roads and networks for drinking water, fire, irrigation, rainwater, sewage and surveillance cameras with all related services such as pump rooms, water and irrigation tanks, as well as sewage treatment plant.
Salman Bin Mohammed Al Mohannadi, Group CEO of Barwa Real Estate, said the company is committed to completing the development as soon as possible.
Al Mohannadi added that the project is a result of Barwa partnership with the Government and part of a campaign by the Government to reduce high rental rates.
Barwa says it has completed the signing of all lease contracts for phase one of the project and has rewarded tennants with a 50 percent discount on the value of the rent for the first six months, beginning after the expiry of the grace period of three months.
Located on Salwa International Road in Doha, at the intersection leading to Rawdat Rashid and opposite Aqua Park, Madinat AlMawater project will be the largest destination in Qatar for the sale, purchase and maintenance of used cars as well as their spare parts.