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Qatar Developer Barwa Halts $9.2 Billion of Projects

Robert Tuttle and Zainab Fattah Bloomberg News
Qatar Developer Barwa Halts $9.2 Billion of Projects - project - developer - Qatar


Aug. 31 (Bloomberg) -- Barwa Real Estate Co., Qatar’s biggest property developer by assets, halted planned projects worth $9.2 billion in the cities of Doha and Al Khor until the market improves.



“It is not a good time to start” because of a surplus of residential and office space in the country, Yousif al Khater said in an interview in the capital, Doha, today. The company is going ahead with developments that have already started, he said.

The 30 billion-riyal ($8 billion) Al Khor project, to be built in partnership with Kuwait’s Imtiaz Investment Co., would include 24,000 housing units and 250,000 square meters (2.7 million square feet) of office space in Al Khor, Qatar’s second- biggest city, according to the company’s website. Al Doha, a 2.4 billion riyal development in the capital, will include apartments, offices and retail.



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