18/03/2025 04:53 AST
Barwa has outlined a 2025 strategic plan, which will help increasing revenues - including commencing development of the Madinatna Schools project and the first phase of the Barwa Hills project - and rationalising expenditures.
"We have prepared a clear strategic plan for the year 2025, focusing on several key areas that represent the foundation for the group's direction in the coming phase," Barwa Chairman HE Abdullah bin Hamad al-Attiyah said in its 2024 annual report, presented before shareholders.
The group aims to achieve sustainable growth in revenue and shareholder returns by maintaining a balanced mix of operational projects that meet the demands of the real estate market while ensuring minimal risks.
"In the short to medium term, we aim to increase occupancy rates in new real estate projects such as Madinatna and the Argentine Neighbourhood, as well as Phase three of the Madinat Al Mawater's project, while also maintaining and improving occupancy in other real estate projects," he said.
Additionally, the company plans to benefit from the operational returns and maintenance services of the Qatar Schools project (First Package). For the long term, it believes that Qatar's National Vision 2030 will serve as the main driver for sustained growth.
Key goals for 2025 include commencing development of the Madinatna Schools project and the first phase of the Barwa Hills project, completing the leasing of the remaining spaces in phase three of Madinat Al Mawater, and studying and working on master plans and feasibility studies for new projects such as phase four of Madinat Al Mawater and the remaining phases of Barwa Hills in Lusail.
The goal also include taking advantage of new legal and economic regulations in the real estate market in Qatar, which is undergoing significant development following the Cabinet decision No. 28 of 2020, which outlines areas where non-Qataris can own and benefit from properties.
These include Lusail, where the majority of the group's land inventory is located. In line with this, the first phase of Barwa Hills has been launched, with further phases planned as part of the group's strategy to maximise the utilisation of its land assets and enhance returns for shareholders.
The 2025 goals include strengthening the level of strategic partnership with the public sector and the government to meet the real estate sector's needs by participating in available tenders, in accordance with the public private partnership law.
Additionally, the company remains committed to developing real estate projects that contribute to meeting the needs of citizens and residents and support the realisation of Qatar's National Vision 2030, in fulfilment of Barwa Real Estate's role as a leading national entity in the field of realty development.
"In 2025, the company will continue to explore available ways to rationalise operational, administrative, and financing expenses to ensure the maximum benefit from these expenditures and assess the possibility of reducing them without impacting the quality of projects and services provided," al-Attiyah said.
Gulf Times
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