DOHA: Barwa Commercial Street, the flagship project of Barwa Real Estate Company is expected to start its operations from next month. Over 30 percent of the commercial spaces have already been rented out, Khalid Al Mannai, Executive Director of Waseef, a company that maintains the real estate properties of Barwa said recently.
The project is said to have received great response from clients. Some of the tenants even constitute big multinational companies of which many of them are entering into the Qatari market for the first time.
“Shops rented out from the first phase of the project will open their doors for the customers during the month of December. The project has received an overwhelming response. Many big and multinational companies are demanding for huge spaces. Take the example of a Chinese company, Dargon Mast, which has alone acquired an area of about 20,000 sq m on rent,” Al Mannai was quoted as saying by Al Sharq yesterday.
He added that there are many multinational companies that have demanded for space are entering into the Qatari market for the first time.
Asked to comment about the rental prices, whether it is competitive or expensive, he said: “For commercial spaces the rent ranges from QR125 to QR150, but for shops it varies from QR60 to QR80, which is very much competitive and affordable.”
The project also constitutes a large number of residential units. But there is no encouraging news for private occupants aspiring to have an address in the society. Because, as of now, the company is not allocating any houses to private individuals who have applied for family accommodation.
Big companies and government organisations are being given first preference over individual applicants.
“We have received over 2,000 applications for family accommodation from private individuals but we are giving priority to companies and government institutions, then private families will be considered” he added.
“Over 10 percent of the units have been allocated so far and some residents have already moved into their allocated flats last month.”
The Peninsula
