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Gulf Times - Bayti Real Estate Investment Company, the developer of Rawabi (Palestine), yesterday said its masterplan has been approved. 

Bayti is jointly-owned by the Qatari Diar Real Estate Investment Company and Ramallah-based Massar International.

“The approval is an unprecedented and definitive move to clear the way for construction to begin on the first new Palestinian city in recent history,” an official said.

The official ministry approval, coming from the Minister of Local Government of the Palestinian Authority (PA) Dr Khaled Fahd al-Qawasmi, was preceded by one from the Palestinian Higher Planning Council, official said.

“Experts from Diar have been working closely with their Palestinian counterparts to finalise preparations to launch construction of over 5,000 housing units and the Rawabi city centre, 9km north of Ramallah,” the official said.

Qatari Diar chief executive officer Ghanim bin Saad al-Saad said: “We reiterate our commitment to ensure that the Rawabi project develops as planned and comes to fruition in a timely manner,” while emphasising on the need to improve quality of life of the Palestinian people.

Palestinian Minister of Economy Dr Hassan Abu Libdeh, said: “We stress the importance of an expedited project timeline in order to materialise plans for the new city into reality.

The Rawabi project is significant in terms of job creation for Palestinians as well as alleviation of the housing shortage.”

Bayti managing director Bashar Masri yesterday said the company intends to launch construction within a few weeks and that contracts are currently being awarded to a number of Palestinian contractors. 

 

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