Qatari Diar Real Estate Investment CompanyQatari Diar Real Estate Investment Company

BarwaBarwa

Ghanem bin Saad Al Saad, Qatari DiarQatari Diar CEO and Youssef Al Hammadi, BarwaBarwa Chairman and Managing Director and Chairman-designate of the new joint venture signed the agreement to establish a shareholding limited liability company with a 51 Qatari stake and a 49 percent French holding by the two French entities.

The JV will focus on multi-utility facilities and services in the fields of water treatment and distribution, wastewater collection and treatment, power transmission and distribution and a wide range of energy services such as district cooling, gas supply, solid waste collection and treatment, desalination and integrated communication technologies. It will have the values of an integrated utilities one-stop shop approach, offering the best technology in a timely and cost-effective manner, focusing on long term sustainability and environmental awareness.

Al Saad said: "Qatar and the region have undergone major growth both economically and in urbanisation due to numerous major development projects. These projects and their inhabitants, being districts or even complete cities, will benefit from multi-utility facilities and services offered by our JV. Qatari DiarQatari Diar and BarwaBarwa's objective is to strengthen the economic and social growth of our communities through developing and implementing world class projects by providing high quality public utility services."

The company will identify, assess and bid for multi-utility projects and opportunities in the region. The company will be able to provide services for both the environmental sector (water reuse) and energy sectors bringing added value to its customers. Priority will be given to Qatar.

Al Hammadi said: "Qatari DiarQatari Diar, BarwaBarwa and the GDF Suez Group are proud of this new joint venture which will strengthen the support of the companies' projects and presence in Qatar and the region."

He said: "Suez will propose new package offers for the cities of the future to be set up in Qatar and the entire region. Qatari DiarQatari Diar and BarwaBarwa have respected track records in the development of these type of projects and are well aware of local needs, whereas SUEZ will provide its know-how in world class multi-utility facilities and services. This joint venture will be fully sustainable development oriented and aims to contribute to the development of the region's evolutionary cities of the future".

Services offered by the JV will include master planning of projects' facilities and services, facility design, review and possible improvements to existing designs, financing and building facilities, operation and maintenance of facilities and the provision of other services including customer services and management of the capital programme.

Potential customers are DiarDiar and BarwaBarwa projects inside and outside the country in addition to other projects in the GCC region.

© The Peninsula 2008

 

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