Qatar Real Estate News
Qatar Airways, Barwa Real Estate, sign biggest deal in realty market
Qatar Airways, the national carrier of Qatar has entered into a deal with Barwa Real Estate to rent the Barwa City for QR7.1bn.
Barwa City offers a total of 128 building complexes comprising 6000 units, with capacity to accommodate a population of 25,000. The units are likely to be delivered by September 2012.
The employees of Qatar Airways are offered accommodation in various places, and this deal is likely to bring in vacancy in several residential buildings.
The duration of the rental period is yet to be specified, although as per media reports, it may stretch up to five years, with possibility of renewal on expiry of the contract.
This deal, between Qatar Airways and Barwa Real Estate Company is one of the biggest deals in the property market till date.
Posted on 21/6/2011