Waseef Property and Facility Management Services Company, a subsidiary of Barwa Real Estate, has achieved a 100% occupancy rate in the first and second phases of Mawater City, a statement said Tuesday.
The company has achieved 100% occupancy by renting out 144 showrooms for used vehicles with space ranging from 400- 1,000 sqm. Similarly, 20 other commercial shops and five maintenance workshops were rented out fully.
Mawater City's 352 residential apartments comprising studio, one-bedroom and two-bedroom options were rented out at an occupancy rate of 73%.
The first and second phase of the project also provide comprehensive services utilities such as restaurants and supermarkets. Wassef stressed that the rental rates are based on competitive market values and the expectations of the tenants.
Mawater City has become a destination for organising auto festivals in co-operation with the entities concerned.
Mawater is located on a plot of 1,151,731 sqm at Rawadat Rashed, west of Salwa Road intersection and equipped with all the sophisticated infrastructure and supporting services that include auto insurance companies, fuel station, traffic department offices and others, in addition to an excellent internal network or roads, surveillance cameras, firefighting systems, drinking water and sanitary drainage network, and an under construction station for treating sanitary drainage water.
To enhance the services, a technical inspection station (Fahes) would be constructed by Woqod on a space of 26,000 sqm, the statement added.
