Posted on June 19, 2011

Qatar's flagship carrier, Qatar Airways, is set to rent the entire Barwa City. According to Al Sharq newspaper, real estate company, Barwa and Qatar Airways have reached an agreement to rent Barwa City for QR 7.1 billion.

Barwa City has 128 building complexes comprising of 6,000 units that can accommodate 25,000 people. Delivery of the units will be by September next year. However, specifics were not given as to how long the rent duration will be. Sources close to the deal say it might be for 5 years with the possibility of renewal after the contract expires. This is the biggest deal in the real estate rental market to date.

source: The Peninsula