Trade Arabia reported that Arabtec, Dubai's largest listed builder, said it has won a QAR 2.3 billion contract from Qatar’s leading real estate firm Msheireb Properties for the construction of a mixed use development project in Doha.
Mr Msheireb Properties a subsidiary of Qatar Foundation said that the contract involves the construction of a built up area of 370,000 square meters comprising 10 buildings between two and 19 storeys high as well as 4 to 5 basement levels.
Msheireb Downtown Doha Phase 2, the QAR 20 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.
Msheireb Properties said that 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.
Mr Mohammad Al Marri the chief officer for design and delivery at Msheireb Properties said that “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. The portfolio of Arabtec includes office towers, hotels, residences and villa projects, universities and airports in the Gulf and countries outside the region.”
Mr Hasan Ismaik MD of Arabtec Holding said that “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.”