Barwa Real Estate Sunday said the stage is set for investors to own property in its high-end Dara (A) project in Lusail through which it is offering as many as 142 residential units in Building A1.
Barwa Real Estate, which at present has a land-bank of 3.5mn sqm area in Lusail, is also currently evaluating options to develop it through a mix of “build to sell” and “build to lease” models.
The Building A1 provides 142 apartments of various sizes for ownership. This step comes after the success achieved by the sales of Building A2, where sales reached about 80% of the total 129 apartments, despite the Covid-19 challenges.
Dara (A), the first phase of the project, offers four five-storey buildings that provide 271 apartments, including 94 one-bedroom apartments, 139 two-bedroom apartments, and 38 three-bedroom apartments, in addition to providing 365 underground parking spaces.
More units in Building A1 will also be offered for sale in the coming months, the real estate company said, adding the sale of units will be managed by Waseef, a leading real estate, facilities and asset management company, and a subsidiary of Barwa Real Estate Group.
This pioneering project with its modern design and strategic location in the north of Fox Hill area in Lusail city is an attractive architectural monument, and it is an added value to the real estate market in residential, reflecting its goals to be home to a sustainable community that meets the requirements of modern life, a company spokesman said.
Dara (A), which Barwa completed its development in 2019 and began offering its units for sale in the second half of last year, reflects “build to sell” model, to comply with the great development witnessed by the real estate market and at the same time complies with the new legal and economic legislation enacted by the state and related to the realty sector.
The latest of which was Cabinet Resolution No. 28 of 2020, specifying the areas in which non-Qataris may own and use real estate, and the conditions, controls, benefits and procedures for their ownership and use of it. Lusail City is one of the areas of the freehold right included with this decision.
Lusail City is one of the freehold areas included in Cabinet Resolution No. 28 of 2020, which creates new investment opportunities for Barwa Real Estate Group, as it owns a huge land bank in Lusail City, extending over an area of 3.5mn sqm.
Barwa Real Estate is currently evaluating the most appropriate development plan for its land stock in Lusail City through feasibility studies for potential opportunities and through a mix of “build to sell” and “build to lease” models with the aim of enhancing returns in the short and long term, the spokesman said.
It is also adding a distinct destination to the city of Lusail in particular and the country in general, through the diversity of the proposed uses and the integration of facilities there.
The Building A1 provides 142 apartments of various sizes for ownership. This step comes after the success achieved by the sales of Building A2, where sales reached about 80% of the total 129 apartments, despite the Covid-19 challenges.
Dara (A), the first phase of the project, offers four five-storey buildings that provide 271 apartments, including 94 one-bedroom apartments, 139 two-bedroom apartments, and 38 three-bedroom apartments, in addition to providing 365 underground parking spaces.
More units in Building A1 will also be offered for sale in the coming months, the real estate company said, adding the sale of units will be managed by Waseef, a leading real estate, facilities and asset management company, and a subsidiary of Barwa Real Estate Group.
This pioneering project with its modern design and strategic location in the north of Fox Hill area in Lusail city is an attractive architectural monument, and it is an added value to the real estate market in residential, reflecting its goals to be home to a sustainable community that meets the requirements of modern life, a company spokesman said.
Dara (A), which Barwa completed its development in 2019 and began offering its units for sale in the second half of last year, reflects “build to sell” model, to comply with the great development witnessed by the real estate market and at the same time complies with the new legal and economic legislation enacted by the state and related to the realty sector.
The latest of which was Cabinet Resolution No. 28 of 2020, specifying the areas in which non-Qataris may own and use real estate, and the conditions, controls, benefits and procedures for their ownership and use of it. Lusail City is one of the areas of the freehold right included with this decision.
Lusail City is one of the freehold areas included in Cabinet Resolution No. 28 of 2020, which creates new investment opportunities for Barwa Real Estate Group, as it owns a huge land bank in Lusail City, extending over an area of 3.5mn sqm.
Barwa Real Estate is currently evaluating the most appropriate development plan for its land stock in Lusail City through feasibility studies for potential opportunities and through a mix of “build to sell” and “build to lease” models with the aim of enhancing returns in the short and long term, the spokesman said.
It is also adding a distinct destination to the city of Lusail in particular and the country in general, through the diversity of the proposed uses and the integration of facilities there.