Qatari leading real estate company Barwa Real Estate Group is launching the second phase of the Madinat Al-Mawater mixed-use project, Invest-Gate reports.
The project is being developed in cooperation with Insha Contracting and Trading Co. at a total investment cost of QAR 112,500,000 within one year, according to the company’s released statement.
Phase two of the project spans an area of 35,607 square meters and includes 50 used car showrooms, 176 houses, 10 commercial shops, and five workshops.
The project also includes two power substations, internal road networks, an irrigation system, sewage treatments, surveillance, and is expected to also include a petrol station and a vehicle inspection service spanning an area of 26,000 square meters.
“The project is a result of Barwa partnership with the Government and is also considered one of the outcomes of the efforts made by the government to reduce high rental rates; the group is now preparing a market survey to identify the needs of used-car market so as to fulfill them in the next phases of the project,” says CEO of Barwa Real Estate Group Salman Bin Mohammed Al Mohannadi.
All rent contracts the project’s first phase have been finalized. Tenants were awarded a 50% discount by the company on the first six months of the rent contract.
Madinet Al-Mawater project is located on Salwa International Road and is considered a strategic destination for selling, purchasing, and maintaining used cars. The residential part of the project features restaurants, mosques, and health services.