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Barwa Al Khor Upbeat About Urjuan Project
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Barwa Al Khor officials expect Qatar’s favourable economic outlook to positively impact on the sales of the plots and subsequently, the residential and commercial units at the QR35bn Urjuan project in Al Khor.A subsidiary of Barwa Real Estate and master developer of the high profile project, Barwa Al Khor is confident of the success of Urjuan development in view of Qatar’s economy expected growth this year.
The country’s economy is expected to witness promising growth this year, due to its growing liquefied natural gas (LNG) exports. Besides, its visionary fiscal policy has been designed to support large-scale investment to boost the country’s infrastructure.
Qatar is one of the very few countries expecting growth this year, amidst the changing global economic climate, making it a very attractive destination for real estate investments both for commercial and residential properties. In addition to its strong economic standing, Qatar is also implementing freehold property laws for foreigners, which has increased investor confidence. About 800 towers are to be built in the country by 2016, as increasing disposable incomes and favourable legislation continue to drive the real estate growth.
Ghanem bin Saad Al Saad, Chairman and Managing Director of Barwa Real Estate, said: “Qatar’s performance in every aspect of development amidst the global financial meltdown is truly phenomenal. This is largely due to ample initiatives being taken by the Qatari Government to buffer the impact of the economic slowdown. The presence of a massive development such as ‘Urjuan’ underlines the stability and growth of the Qatari economy.
“We are confident that the ‘Urjuan’ project will not only provide customers with luxurious and well-appointed residential and strategic commercial spaces, but more importantly outstanding investment opportunities.”
Urjuan is a modern, eco-friendly mega development located 40 minutes from central Doha and incorporates world-class residential, commercial, leisure, sport, and waterfront projects. In addition, the ultra-modern city development will also house luxury facilities, including a 5-star business hotel and an 18-hole golf course, in line with the developer’s aims to provide an unprecedented venue for business and leisure activities of residents and visitors.
Development of the low-rise buildings and other structures within the expansive community project will take place in parallel with the infrastructure works, with all the construction to be regulated by the master developer.
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