One of Qatar’s leading real estate and investment companies, Barwa Real Estate Group, demonstrated its commitment to the Turkish market when it showcased a property development in Istanbul at the Cityscape Qatar exhibition at the end of May.
Barwa’s Ottomare project is due for completion later this year and comprises 391 luxury residential units in the Bakırköy suburb of Istanbul. Ninety per cent of the project is said to be sold, making it a positive example to other Middle Eastern developers considering investing in Turkey’s real estate market.
Bakırköy is an important commercial and residential district in the centre of Istanbul’s European side. It has excellent transport links with the rest of the city and a huge shopping district, which includes a number of shiny shopping centres, such as Carousel, as well as a selection of cinemas, bars and cafes.
With an ever expanding portfolio of projects, Barwa Real Estate has built a solid track record of taking on major and complex domestic projects and completing them to the highest standards. While its main activities remain in Qatar, the group has a wide array of investments and operations regionally and internationally. Barwa is currently the largest publicly listed real estate company in Qatar in terms of real estate developments, and the group recorded a total asset value of approximately QR 50,239,531 billion at the end of 2012.
Meanwhile, the Turkish subsidiary of Dubai developer Emaar, continues to promote its mixed use Emaar Square project in Çamlıca, on the Asian side of Istanbul. The new residences there, launched at Emaar’s sales centre on December 26, 2012, will offer a unique lifestyle experience for residents in the stunning new Emaar Square urban neighbourhood. Emaar Square follows the completion of the second phase of Emaar’s Tuscan Valley development in Büyükçekmece.