QR 35bn Urjuan project launched

The Urjuan project, a QR 35 billion (USD 10 billion), integrated city development was officially launched by HE Hamad Bin Jasem Bin Jabir Al Thani, Prime Minister of Qatar, early November.

Developer BARWA Al Khor, a joint venture between parent company Barwa Real Estate (Qatar) and ALIMTIAZ INVESTMENT (Kuwait), will utilise 5.5 million square metres to the north of Al Khor town, and will be the closet community to the proposed Bahrain – Qatar causeway.

Of the project, Ghanem Bin Saad Al Saad, chairman and managing director of BARWA Real Estate, said: “At present there is a supply and demand gap on account of several factors, most notably the economic growth being witnessed in Qatar.

“The implications for growth in the area are tremendous. In line with this, we are currently working on the establishment of strong infrastructure within the project that will satisfy the needs of multinational companies and high net worth investors, who are exploring the possibility of venturing into Al Khor as a destination for their projects,” he added.

The development is set to offer more than 24,500 housing units consisting of a beachfront hotel and resort and apartments, which can accommodate over 63,000 residents, with completion expected for 2013.

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