BARWA

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hey guys , i thought we could have a thread for barwa alone. Lots of barwa news happening around and this could be it. I guess...

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Barwa is planning internal restructuring during the beginning of next year as part of the company's new growth phase. This was disclosed by Barwa executive board after a meeting held on Wednesday.

The meeting was headed by Chairman, Ghanem bin Saad Al Saad, with the full attendance of the board at Barwa headquarters.

During the meeting, the board discussed revisions and clarifications to the procedures and policies used in the execution of investments to ensure all Barwa projects are completed on time and have full and timely access to the necessary financing.

Board members also discussed the state of current and future investments in both local and international projects and approved new procedures aimed towards expediting necessary internal business procedures.

The meeting concluded with agreement on internal restructuring plans which will be enacted during the beginning of 2010.

"The company is about to enter a new phase of growth. All Barwa affiliates and subsidiaries will witness significant boosts in performance as the new restructuring will give them greater independence to pursue specifically targeted business opportunities," Barwa chairman, Ghanem bin Saad Al Saad stated.

Commenting on the QR4.75bn Barwa Financial District project currently under development, he continued, "Barwa has the liquidity to finance its current projects and has all the tools to finance its upcoming ones as well. We are currently collecting $1.5bn and hope to have $2bn by 2010."

"As a nation, we are grateful that the global economic crisis didn't affect the Qatari market. This is a result of both the sound judgment and wisdom of the Qatari leadership and the nation's solid economy and financial sector.

Even on an international level, we are beginning to see the light ahead which will lead to greater investor confidence and finally help reshape the real estate sector with a more solid framework."

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Barwa and Qatari Diar Research Institute (BQDRI), that focuses on studies about new knowledge in sustainability and its application, and Projacs International, the pioneer Arab company specialised in Project/Construction Management and Training fields, announced the signing of a Memorandum of Understanding (MoU) for building strong cooperation and partnership which aims to support the implementation of sustainability practices through adopting the Qatar Sustainability Assessment System (QSAS).

The signing ceremony was held during a press conference alongside Meed Green Building and Sustainability Conference at the Address Hotel, Dubai Marina. The agreement was signed by BQDRI Chairman and Managing Director, Dr Youssef Mohammed Al Horr, and Deputy CEO of Projacs International Company, Ashraf Al Garf. Senior officials from the two companies.

This MoU will help in building a strong cooperation and strategic relationship between the two companies, promoting QSAS and encouraging other companies and real estate developers to adopt it. BQDRI seeks to attract leading organisations and institutions to cooperate in delivering consultancy services, training and educational programmes directly related to sustainability and its practices.

Relying on its widespread offices and deep knowledge and experience in the market, Projacs International, in association with BQDRI, will promote QSAS to different real estate companies, equivalent to what Barwa Real Estate and Qatari Diar did, aiming to preserve the environment and adopt green building practices in new projects.

Commenting on the MoU, Dr Youssef Al Horr said: "This memorandum with Projacs International will open new horizons of business and development to achieve our objectives. I am confident that our partnership with companies like Projacs International will add great value to what BQDRI has done. This cooperation will encourage the adoption and implementation of QSAS in Qatar and abroad, especially as Projacs Internationals has a strong regional and global presence, as well as deep knowledge in the real estate markets."

"We work to establish qualitative initiatives to lead the real estate development sector in Qatar and the region, and to encourage all building professionals and engineers in Qatar by providing them with suitable tools and practices for developing and implementing the concept of sustainability," Dr Al Horr added.

Representing Projacs International, Ashraf Al Garf said: "The MoU with BQDRI represents a qualitative step for the real estate sector in Qatar and the region. Our partnership will allow us to provide the highest level of professional Project Management services. Our existence in a large number of countries will help in introducing QSAS to the world and adopting it as one of the leading global assessment systems which meets the needs of the region.

Projacs International, through its various and diversified services in management, training and development; will help in providing additional means to improve the awareness in QSAS."