A joint venture of Qatar-based UrbaCon Trading & Contracting has been awarded a QR1.69-billion ($466 million) contract to design and build an urban area in the Ras Bufontas area of Qatar, next to Hamad International Airport (HIA) terminal.

The joint venture between UrbaCon and Spanish firm Sacyr has been awarded this contract, explained Moataz Al-Khayyat, CEO of UrbaCon.

“It is another successful step by UrbaCon, which proves our ability to lead big construction projects in cooperation with world construction companies such as Sacyr,” he said.

“Both companies have been awarded the project by Manateq, an organisation set up by the Qatari government to develop economic zones across the country,” he added.

“The work covers an area of approximately 4.1 sq km, which is Qatar's first economic zone,” Al-Khayyat said.

UrbaCon Trading & Contracting has been involved in several huge projects over the last few years and has become one of the most respected building contractors in Qatar. In addition to the Mall of Qatar, included among its projects are the Banana Island Resort, the Sheraton Doha Hotel and Convention Center, and the Lekhwiya Stadium at Al Duhail.

UrbaCon is one of 17 companies owned by Al-Khayyat. The companies include general contracting, commercial and residential developments, building materials, various trading companies, hospitals and restaurants with operations in the Middle East. – TradeArabia News Service