Germany's Hochtief wins Qatar contract

 

German builder Hochtief has won a contract for a commercial and residential development from Qatar's Barwa Real Estate Co, Barwa said on Sunday.


Hochtief will build shops, office and residential buildings in the Barwa Commercial avenue development in the Qatari capital, Doha.

"Hochtief will begin implementing the construction phases of the project through sub-contracting some of the phases and units to local contractors," Barwa said in a statement on the bourse website.

Construction is due to be completed by 2011, Barwa said, without giving the value of the contract.

Government-owned Qatari Diar Real Estate Investment Co, which bought London's Chelsea Barracks in April, owns 45 per cent of Barwa. (Reuters)

 

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