DOHA: Barwa Real Estate said it has won a QR750m contract from Manateq to build, operate and transfer (BOT) low-cost warehouses.
Manateq (Economic Zones Company) is a shareholding company established by the Minister of Business and Trade of Qatar.
Barwa is expected to undertake the project within a period of 24 months. The lease agreement is for 25 years, it said in a regulatory filing to Qatar Exchange yesterday. The Letter of Intent (LOI) was executed on December 14, 2014 between Barwa Real Estate, Qatar Ministry of Economy & Commerce, and Manateq.
This project aims at increasing the presence of Barwa in the local Qatari market, and diversity its investments in line with the nature of its business and activities. Additionally, this project is expected to reinforce Barwa’s financial position, through the income generated from the operating activities for 25 years.
The Peninsula
