Manateq CEO Fahad Rashid al-Kaabi said Manateq poured more than QR3bn worth of investments for infrastructure development in the 4.01sq km Ras Bufontas and the 33.52sq km Um Alhoul SEZs.
He also said the investment projects laid out for the two SEZs were geared towards encouraging business opportunities for the Hamad International Airport and Hamad Port.
Al-Kaabi said Manateq already signed agreements worth more than QR1bn with local Qatari companies, which, he said, emphasises “the strong partnership between the public and private sectors in the development of Qatar.” “Manateq has pre-qualified developers and investors suitable in Ras Bufontas and we were satisfied to see a number of serious investors and well-known businessmen who have the expertise in Qatar,” al-Kaabi told Gulf Times. He was referring to the QR488.5mn deal Manateq recently signed with five Qatari property developers that will build two 4-star hotels and three 3- and 4-star hotel apartment complexes inside Ras Bufontas.
According to al-Kaabi, one of the hotels will be constructed by Zukhrof Trading and Contracting and operated by the Wyndham Hotel Group, while the other 185-room property will be developed by Bab Ishtar Trading and Contracting and operated by Aspire Hospitality to have another branch of The Torch, Doha.
Both properties will be developed in line with the Build Operate and Transfer (BOT) model for 25 years, al-Kaabi pointed out.
He also said the hotel apartments will each have a minimum of 100 rooms and will be constructed by Hotel Musherib, Ras Bu Fontas Trading and Contracting, and Al Sraiya Holding Group, and operated by Tourist Hotel, Katara Hospitality, and Al Sraiya Hotels & Hospitality, respectively.
Last week, al-Kaabi also signed a QR550mn deal with Ismail Bin Ali (IBA) Group to develop a workers’ accommodation project also at Ras Bufontas. Built on a 150,000sqm area, the facility will accommodate 8,784 employees and workers from factories and warehouses in Ras Bufontas and other surrounding areas, al-Kaabi said.
Aside from local companies, al-Kaabi said Manateq sees “a lot of opportunities” for foreign investors in the Ras Bufontas and Um Ahloul SEZs.
“We have already signed agreements with leading international companies in the logistics and industrial sector and we expect them to operate by the end of 2018. We are pushing to finalise all infrastructure in the whole area and we expect it to be operational by 2019 and 2020,” he said.