Friday 22 June 2018

Arabtec wins $631m Qatar construction deal

Doha, December 4, 2012

Arabtec, Dubai's largest listed builder, said it has won a QR2.3 billion ($631 million) contract from Qatar’s leading real estate firm Msheireb Properties, for the construction of a mixed-use development project in Doha.

The contract involves the construction of a built-up area of 370,000 sq m comprising 10 buildings between two and 19 storeys high as well as 4-5 basement levels, said Msheireb Properties, a subsidiary of Qatar Foundation.

Msheireb Downtown Doha Phase 2, the QR20 billion regeneration of the historical commercial centre of the Qatari capital, will have an estimated 99 residential units, 3,102 parking spaces, as well as commercial, retail, hotel, hospitality and community-based facilities.

Announcing this on Tuesday, Msheireb Properties said it has appointed a consortium of Arabtec Construction's units in the UAE and Qatar as the main contractor for the second phase of Msheireb Downtown Doha,

“The pace of construction at Msheireb Downtown Doha continues to accelerate and the involvement of Arabtec further asserts our commitment to the highest standards of quality, reliability and sustainability,” remarked Mohammad Al Marri, the chief officer for design and delivery at Msheireb Properties.

The portfolio of Arabtec includes office towers, hotels, residences and villa projects, universities and airports in the Gulf and countries outside the region.

Hasan Ismaik, the managing director of Arabtec Holding said: “It is an honour for us to be involved in a project of such stature and significance. We would like to thank Msheireb Properties for giving us this exciting opportunity and putting their trust in Arabtec.”

The MGallery hotel will be the first in the GCC region and its design will be inspired by Qatari heritage. The phase also includes a purpose-built mall covering around 42,000 sq m over four levels, said the statement.

The mall will account for almost 45 per cent of the total retail space within the Msheireb Downtown Doha project. Besides 100 stores, the destination will include an anchor supermarket chain, a food court catering to more than 500 diners, a cinema and a major department store.

Described as the world’s first sustainable regeneration of a downtown area in a modern city, Msheireb Downtown Doha combines traditional local building practices and design influences with the latest technologies in energy efficiency and environmental management.

Inspired by an original architectural language devised by leading architects, academics, designers and engineering consultants from Qatar and abroad, it will be the world’s largest sustainable community on completion, with at least 100 buildings certified as Leed Gold.

The buildings will be targeting as minimum a Gold certificate for sustainability based on the US Green Building Council’s Leed rating system.

Msheireb Downtown Doha broke ground in early 2010 and its development will be completed in five phases. at it had awarded the contract for the construction of raft foundations of Phase 3 of Msheireb Downtown Doha to HBK Contracting Company.-TradeArabia News Service

Tags: Qatar | Construction | hotel | Arabtec | residential |

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