The group aims to increase its operating revenues from the projects currently under construction that are expected to be completed this year, a company spokesman said, highlighting the Labourers’ Housing Project on Salwa Road, Phase 2 of Madinat Al Mawater, the Barwa Village extension project and the Dara A project. “The results reflect Barwa’s keenness to increase its sustainable returns to its shareholders through the continued growth of its portfolio of revenue generating assets and at the same time improving the efficiency of existing operational projects,” the spokesman said.
Barwa aims to increase its sustainable returns to its shareholders through increasing operational projects by making the best investment use of its land bank in order to develop new projects such as the Barwa Village Extension project and the Dara A project. Moreover, the company is finalising plans to start the development of several projects including Phase Three of Barwa Al Baraha and the Phase Three of Madinat Al Mawater project. The company has been able to maintain a cash balance of QR2bn, which is sufficient to cover the group’s operations and to support the execution of its investment strategy, the spokesman said.
Sources and photo- credits: Gulf Times