Barwa honored 'Best Islamic Real Estate Institution Globally' award at the International Real Estate Finance Forum 2008 in London

Mr. Gordon Brown, the British Prime Minister has earlier stated:

"The world is currently witnessing unprecedented turbulence in financial markets which is undermining real economic performance in countries around the world, even countries such as those I am visiting over the next few days. These global challenges demand global solutions. The long-standing partnership between the UK and the countries of the gulf will be crucial to this global solution."

The awards nomination process was undertaken by a special committee composed of elite international VIP real estate and financial figures, and according to accurate conditions especially adopted for companies' nomination to such awards. Barwa surpassed other nominated companies to win both awards exclusively.

The evaluation of nominated companies was decided according to the following aspects:

1- Adopted expansion strategy. The best and honest indication on Barwa's expansion strategy is the wide network of projects, company subsidiaries and strategic partners across the world. That's why Barwa was selected as the first Gulf Real Estate company to receive this prestigious award.

2- The achievements of Barwa in Qatar and around the world. Barwa's achievements are well recognized all over the world, they stand bright to post Barwa and its subsidiaries and fellow companies above all other nominated companies to win the award. Barwa brightening star is clear to all in the local, regional and global real estate field. Barwa's projects exist throughout all of Qatar, starting from Barwa Al Baraha with a capacity to house 50,000 workers, the luxury residential and commercial compound Barwa Al Sadd, Urjuan development in the north of Al Khor City covering 5.5 million sq m, Barwa Housing Program and Barwa Village projects providing economical-price residential and commercial compounds to accomplish the concept of interdependence in society and to encourage the private sector to play a vital role in solving housing problems, Hasad Barwa project to protect Qatar's natural environment, as well as other projects like: Barwa Doha, Barwa City, Barwa Commercial Avenue and Barwa Financial District. In addition, Barwa has many international projects including Nuzul Holding, Shaza Hotels, Cairo City, buildings in France and hotels in Switzerland; in addition to projects in Turkey, Kingdom of Saudi Arabia, United Arab Emirates and United Kingdom.

3- Strategy of diversifying trade and investment activities, represented by establishing specialized subsidiary companies to support Barwa projects inside and outside Qatar, such as: Barwa Technologies, Barwa Hotels and Resorts, Barwa Media, Qatar Project Management, Barwa Bank, Amlak Qatar, Barwa Building Materials, Barwa Knowledge and others.

4- Corporate Social Responsibility (CSR). According to the essence of the founding spirit of Barwa, the goal of creating a good environment for communities where it works comes at the top of its social responsibility priorities, striking a good balance between living and working in peace and dignity. Whilst Barwa is primarily a real estate company, it remains as committed to its social responsibilities as it is to making shareholder profits. Barwa's CSR strategy includes supporting the community in social, economical, educational and cultural fields. To achieve these commitments, the company developed a more comprehensive program, in which financial support is given to many charity, educational, cultural and sporting organizations, as well as sponsorship to conferences, lectures, and initiatives which support the growth of real estate sector for enhancing the position of Qatar in the region and the world. The best clue for these honest efforts is Barwa Housing Program, which has created 1,984 comfortable lifestyle residential units at rents affordable by all, as a contribution to reduce the pressures and high rent costs for middle income families. Besides, Barwa Al Baraha provides residences for more than 50,000 workers, with comfortable living and recreation facilities, hotel and medical center. And finally, Barwa Village project which includes 18 blocks, offering residential compounds and commercial shops and other facilities with competitive prices.

All these projects and achievements were major reasons why Barwa was honored this global award amongst major players in the region and the world exclusively. However, these were not the only criteria why Barwa triumphed.


Other factors such as diversification of investments supported Barwa's selection as the award winning company, since Barwa's portfolio and its strategic relations with experts in finance and real estate industry covered many commercial categories; of which is real estate in new markets as Barwa partnership with SUN group in the Indian real estate market; and service as its partnership with Qatari Diar and the French Company "SUEZ" to established a multi-purpose utility company for water treatment and wastewater collection, treatment and distribution; and another related to finance as its partnership with AMLAK Finance to establish AMLAK Qatar.

The Forum Organizing Committee hosted the winning companies at a special dinner in their honor. Mrs. Liz Pearce, CEO of the British Property Federation, and Dr. Abdul Qader Amir, Vice Mayor for Local Planning and Urban Development in the Ministry of Municipal and Rural Affairs in KSA in Jeddah, presented awards to the winning companies. The dinner was attended by real estate and finance VIPs as well as representatives of the delegations and financial and estate companies from around the world.

On behalf of Mr. Ghanim Bin Saad Al Saad, Chairman and Managing Director of Barwa, Mr. Youssef Ahmed Al Hammadi, CEO of Barwa Al Khor, received 'The IREF ME 2008 Award of Excellence in the category of Best Islamic Real Estate Institution Globally'. Engineer Al Hammadi also received 'The Best Real Estate Development Project in Qatar $10bn Urjuan Project in Al-Khor in Qatar.

Mr. Al Saad, commented:

"Barwa was honored these awards as a result of its efforts in developing and promoting the real estate sector, as well as an appreciation for the residential, social and lifestyle solutions it offers in Qatar and across the globe. These awards undoubtedly prove that we are keeping our oath in following the path we created for Barwa."

Mr. Al Hammadi stated, "We are proud at Barwa that our company is awarded today as the 'Best Islamic Real Estate Institution Globally' and for Urjuan to be considered the 'The Best Real Estate Development Project' in Qatar."

International Real Estate Finance Forum 2008 attracted more than 300 delegates representing the most prominent real estate developers from 24 European, U.S., Middle Eastern and Asian countries. The Forum, of which Barwa was a Strategic Real Estate Sponsor, discussed the challenges of the estate and finance industry, especially the financial crises currently facing the vast majority of countries around the world. At the accompanying exhibition, the Barwa stand was visited by numerous real estate experts who praised Barwa projects and its corporate policy. Among prestigious visitors was Dr. Abdul Qader Amir, who discussed the Urjuan development and investment opportunities in Qatar with Eng. Al Hammadi.