Barwa Real Estate Company has announced a US $412 million (QAR 1.5 billion) mixed-use development to be built in Al Wakra Municipality, 10km outside of Qatar’s capital Doha.
The Barwa Village Project has a main construction package of $287 million and an infrastructure package worth $149 million, according to a statement.
Construction will last 15 months and the first tenants will take up residency in the first quarter of 2010.
 It will house 13,000 residents across 18 low-level residential blocks and provide an additional 918 retail shops, a school and a mosque.
The development will cover an area of 400,000 square metres and have a built-up area of 186,000 square metres.
Barwa is the master developer of the project and will also be responsible for the infrastructure works. Design and build firm Marbu and architects UDC have taken the remaining building works under contract, the statement said.
Barwa recently announced record half year net profits of $77 million for the six months period ending June 30, a 38.4% increase when compared to the same period in 2007.
The profits are being invested in Qatari and overseas projects, taking the value of Barwa assets to $6.6 billion.
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