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Qatar Petroleum plans to buy Barwa Financial District
Qatar Petroleum has announced plans to purchase the 71,000sqm Barwa Financial District at West Bay to use it as the corporate center for general operations, administration and financial activities.
Barwa has entered into a deal with Qatar Petroleum to begin discussions to sell Barwa Financial District to Qatar Petroleum. The Barwa Financial Center is aimed to meet the requirements of business sector with quality office space, good infrastructure, modern technology and parking amenities for more than 5000 vehicles. The facilities at the center are equivalent to a luxury hotel and spa, apart from a conference center and outdoor plaza.
The project comprises 10 structures with an average of 24 to 55 storeys, covering a prominent position at the West Bay. Barwa Financial Center adheres to the Qatar Sustainability Assessment System (QSAS) by Barwa Qatari Diar Research Institute, and is the first to be certified among sustainably-designed developments in the Middle East.
Barwa Financial District has included cutting-edge design features to minimize impacts on its environment. Each tower has undergone the solar impact study, and is therefore individually façade treated to optimize shading effectiveness.
The energy resources in the product is also well utilized, with occupancy-based lighting, grey water recycling system which collects rainwater and does condensation. Having incorporated so many energy saving features, Barwa Financial Center is in compliance with LEED (Leadership in Energy and Environmental Design) green building rating system and European Standard EN 13779. Barwa Financial District is an international model for sustainable development.
According to Barwa, the project which is currently under construction will be handed over by 2013.
The Chairman of Qatar Petroleum, HE the Deputy Premier, Abdullah bin Hamad al-Attiyah, said that in the current economic condition, the Barwa Financial Center fits in as a solution to its current and future requirement of a headquarters.
The Barwa Chairman and Managing Director, Ghanim bin Saad al-Saad, said, the project has been designed to house and service the world’s leading companies and it will do so.
Posted on 16/2/2010
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