Barwa Al Khor, a subsidiary of Barwa Real Estate and a leading master developer of high profile projects, has announced plans to launch a massive flagship project in Qatar by the first week of November.

A joint venture between Barwa Real Estate Company and Al Imtiaz Investment Company (Kuwait), Barwa Al Khor was established in May 2006 to purchase and develop lands in Al Khor, Qatar – a tourism and residential property destination.

The city development in Al khor comprises residential, commercial and touristic developments and will be one of Barwa's largest development projects in the country, said the company in a statement.

The coastal city, located 57 kilometres north of Doha, is famous for its harbour filled with small craft and fishing boats, excellent beaches and a castle.

The complete information with regard to investing within this state-of-the-art project will be revealed during the project launch, it added.

Commenting on the project, Ghanem bin Saad Al Saad, chairman and managing director of Barwa Real Estate, said, “We are proud to launch this project, which will be the biggest and the most important project in our project portfolio in Qatar, through our subsidiary Barwa Al Khor.”

'Barwa Al Khor will handle the development, management and marketing of the project, which will be a city development comprising of residential, commercial and touristic developments.'

'Our decision to choose Al Khor area as home for this important project has been driven by its rich history that resonates in the minds of the Qatari citizens, as well as its position as a major focus of the Qatari Parliament Resolution No.20 of 2004 with respect to  Conditions and Restrictions of non-Qataris’ freehold ownership of properties and residential units,” he added.

'Al Khor has established itself as one of the fastest growing cities in the world and now houses the hubs of some of the leading energy companies, including ExxonMobil, Shell, Dolphin Energy, Qatargas and RasGas LNG production facilities,' he pointed out.

Expected to be the next hotspot for residence and business in Qatar, Al Khor is currently witnessing heavy construction works as part of the ‘Qatar 2025’ plan set by the ‘Urban Planning and Development Authority’.

'Barwa Al Khor’s upcoming project is expected to further stimulate the growth in the area, while maintaining the unique spirit of Al Khor environment which has existed over hundreds of years.'

'Al Khor with its own architecture, old houses and charming environment will remain as it is forever surrounded by this mega eco-friendly project which resembles a link between our history and future,” Al Saad noted.

“In line with Al Khor’s exemplary growth, we have committed to incorporating world-class facilities within our high profile project to address the high standard requirements of multinational companies and high net-worth individuals who are headed to Al Khor over the next couple of years,” he added.-TradeArabia News Service