Qatar’s Barwa Real Estate H1 profit slumps 21.1pc

DUBAI: Qatar’s Barwa Real Estate, the Gulf Arab state’s largest listed property developer, posted a 21.1 percent drop in its net profit for the first half of 2012.

Barwa made a net profit of 593.6 million riyals ($163 million) for the opening six months of this year, versus 752.5 million riyals in the same period of 2011, it said in a bourse filing on Sunday. It did not provide other figures.

In May the company’s chief executive said it planned to launch an 18 billion riyal mixed-use Golf City project ahead of the 2022 World Cup soccer tournament. Continue reading

Flyover at 6th Road sought

Rawalpindi: The citizens and traders of the city have demanded a flyover on the Sixth Road to ease the traffic load on the busiest Murree Road. The stop timing on the Sixth Road traffic signal is very long. It does not only waste their time, but also irks the citizens. The people said that

the flyover on the Murree Road at the point of Sixth Road has become imperative as there is a four-way traffic on the road and this very fact impedes the smooth flow of traffic due to which people, especially students, often get late from reaching schools. The traders have urged the Punjab chief minister to construct a flyover on the Sixth Road. The chief minister, it may be recalled, had promised to construct a flyover on the

road. The promise has yet not been fulfilled. They appreciated the fact that the Punjab government built a flyover at Chandni Chowk, which has helped resolved the traffic jam issue on one of the busiest junctures of the city to some extent. However, the traffic blockage at the Sixth Road

wastes precious time of the people. The people have asked the CM to launch the construction work of the flyover on the Sixth Road like he did on the Chandni Chowk at earliest to get rid of traffic jams on this important point of the city as most of the educational institutes and offices are located in the area. online Continue reading

Mureer tunnel work from Sept

English: One of the famous roads in Rawalpindi...

English: One of the famous roads in Rawalpindi, the Murree Road (Photo credit: Wikipedia)

RAWALPINDI: Construction work on the Mareer Chowk tunnel project is going to be started next month and the project would help resolve the traffic congestion at the busiest chowk of the town. The project’s estimated cost would be over Rs 352 million.

After construction of new tunnels on both the sides of the Mareer Chowk overhead bridge, the chowk would become signal-free. Earlier, the PC-I of the project was sent to the government for final approval and grant for the project. Now the Punjab government has released the grant in this regard.

According to a city district government spokesman, the no objection certificate (NOC) in this respect has also been obtained from the railway department. Earlier a proposal was presented to the chief minister, requesting him that the project should be started immediately as there was a huge traffic load at Mareer Chowk and the traffic mess at the intersection was creating problems for the citizens.

It was also mentioned that due to the traffic congestion, the motorists have to wait 10 to 30 minutes normally, besides long lines of vehicles are witnessed there. In order to provide relief to the citizens and for the resolution of traffic problems Chief Minister Shahbaz Sharif had given approval of the project and now a grant for the project has also been released.

With the construction of the project, a long-standing demand of the citizens would be fulfilled and they would breathe a sigh of relief as crossing of Mareer Chowk, especially during peak hours, is a test of nerves for the motorists. The Mareer Chowk tunnel will resolve the traffic congestion problem.

City district government sources told APP that construction work on mega projects of Rawalpindi city, including the Sixth Road Flyover, Pir Wadhai Road Flyover and underpass projects would also be started soon.

The Rawalpindi commissioner while chairing a meeting held here recently had directed the departments concerned that solid steps should be taken to shift the utility services from the proposed sites of the projects so that the construction work could be started soon.

The Sixth Road Flyover and Pir Wadhai Road Flyover projects are good and would help improve the traffic flow on Benazir Bhutto Road and Peshawar Road. app Continue reading

‘Construction work to start next month’

RAWALPINDI  – Construction work on Mareer Chowk Tunnel project is going to be started next month and the project would help resolve the traffic congestion problem at the busiest chowk of the town.

The project’s estimated cost would be over Rs 352 million. After construction of new tunnels on the both sides of the Mareer chowk Railway-overhead bridge the chowk ould be a signal free chowk.

Earlier, the PC-I of the project was sent to the government for final approval and grant for the project and now the grant in this regard has been released by the Punjab government.

According to spokesman of city district government, No Objection Certificate (NOC) in this respect has also been obtained from the railway department. Continue reading