Completion date set for financial hub in Doha

The Barwa Financial District project features an outer ring of six office towers ascending in a clockwise direction from 20 to 35 storeys and an inner ring of towers, comprising three office towers and a hotel ascending in a counter-clockwise direction from 31 to 50 storeys

Work on the under-construction Barwa Financial District is progressing as per schedule and is slated to be completed in March 2013, a Barwa official told Gulf Times yesterday.

Set to become a premier business hub in Doha upon completion, the project is spread on 375,000sqm of prime land and is situated along the Majlis Al Ta’awon Street which already houses several government ministries and organisations.

“Construction work is going as planned. The forecast for completion date is March 17, 2013,” the official said. Work on the project began on September 15, 2009.

When asked about the interest of Qatar Petroleum (QP) in the project, the official said: “There are ongoing negotiations with Qatar Petroleum as announced earlier.”

QP, in February 2010, said it was considering the purchase of the Barwa Financial District in order to use it as a corporate centre for administration, general operations and financial activities. Barwa Real Estate, the parent company of the Financial District, also said it had “reached a deal to begin discussions to sell Barwa Financial District to QP”.

The project was originally envisioned to serve as a local, regional and global financial hub, housing facilities that attract banks and financial institutions.

The project, designed by KEO International, features an outer ring of six office towers ascending in a clockwise direction from 20 to 35 storeys and an inner ring of towers, comprising three office towers and a hotel tower ascending in a counter-clockwise direction from 31 to 50 storeys.

The placement of the nine office towers and their opposing movement of heights helps maintain maximum views and ensures that all the buildings have access to natural light.

The office towers are connected by a two- storey enclosed atrium lined on either side with retail space on both the ground and first floor to create an intimate and lively boutique mall. The plaza at the main retail level will be open-to-air and lined with restaurants and cafes.

The axis from the main street to the northeastern corner of the site culminates with the Prayer Hall providing geometric order to the development, according to KEO.

The project is expected to provide up to 344,650sqm of office space, 17,820sqm of retail, 404 hotel rooms and 13,025sqm for a convention centre.

Last month, Barwa Financial District won the “World’s Best” prize in the category of International Office Development at the International Property Awards. Qatar Project Management (QPM) is the project manager, while KEO serves as consultant.

The main contractor is Bouygues Batiment International, which is working with local companies Midmac Contracting Company and Al Jaber Engineering.