Barwa Real Estate Group’s subsidiary Rawasi Real Estate Development Company has signed a lease contract with the Supreme Committee for Delivery and Legacy (SC), valued at QR217.62mn, for its Madinatna project.
As per the contract, all housing units in the “Madinatna” project (which is currently being developed by Rawasi Company in Al Wakra) will be leased for a period of six months, starting from August 1, 2022. The project contains 6,780 fully furnished apartments, Barwa said in its regulatory filing with the Qatar Stock Exchange.
It is expected that this contract will contribute in increasing the company's operating income during the lease term.
Located at Al Wakra District, the city’s total plot area is 1.141mn sqm and aims at building an integrated residential city for families to provide quality living for its residents.
Madinatna has a mix of 4,740, consisting of two bedroom units and 2,040 consisting of three bedroom units, according to the company's website.
The project has a total built-up area (BUA) of 1.04mn sqm and has 166,481 sqm of green area and 714,249 sqm driveway/walkway/parking areas. The construction of Madinatna was awarded to a Qatari contracting company, UrbaCon Trading and Contracting UCC.
It is expected that this contract will contribute in increasing the company's operating income during the lease term.
Located at Al Wakra District, the city’s total plot area is 1.141mn sqm and aims at building an integrated residential city for families to provide quality living for its residents.
Madinatna has a mix of 4,740, consisting of two bedroom units and 2,040 consisting of three bedroom units, according to the company's website.
The project has a total built-up area (BUA) of 1.04mn sqm and has 166,481 sqm of green area and 714,249 sqm driveway/walkway/parking areas. The construction of Madinatna was awarded to a Qatari contracting company, UrbaCon Trading and Contracting UCC.
