Qatar’s Barwa wins USD205.76m deal from Manateq
16 Dec 2014
(MENAFN) Barwa Real Estate confirmed it has won a USD205.76 million contract from Manateq to build, operate and transfer (BOT) low-cost warehouses, The Peninsula Qatar reported.
Manateq (Economic Zones Company) is a shareholding company established by the Minister of Business and Trade of Qatar.
Barwa is expected to pledge the project within a period of 24 months. The lease agreement is for 25 years, it said in a regular filling to Qatar Exchange. 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.