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Al-Baker and Wenhao exchange documents after signing the agreement between Mazaya Qatar and China’s Sinohydro for constructing the QR473mn Sidra Village in Doha |
Sinohydro will deliver the project in 20 months.
Sidra Village consists of 1,165 residential units, including 658 one-bedroom apartments of approximately 50sq m each, and 507 two-bedroom apartments of 85sq m each.
Mazaya Qatar has signed a 20-year Build, Operate and Transfer (BOT) agreement with Qatar Foundation to build and manage the Sidra Medical and Research Centre’s residential project.
Speaking on the occasion Mazaya Qatar CEO Seraj al-Baker said: “We are thrilled to sign another construction contract in the history of Mazaya Qatar. It is a new milestone and confirms our professionalism and determination as a company and our commitment to deliver Sidra Village project within the scheduled deadline.
“As a company we thoroughly study and evaluate the projects in which we plan to invest and also select the right timing when to implement them in the light of current conditions. We aim to focus on income generating projects to ensure the highest possible returns on investment and grow our assets responsibly.”
Al-Baker said the selection of Sinohydro was based on a “transparent study” against a number of other offers submitted by construction firms.
“We concluded that Sinohydro is the ideal partner to achieve this important project, due to their track record of successes in carrying out similar projects to the highest level of proficiency in execution and their strict adherence to deadline.”
Sinohydro managing director Wu Wenhao said: “We are thrilled to be selected for the Sidra Village residential project and proud of this new achievement in Qatar. We have a lot of experience in delivering projects on time in different regions across the world and are confident of completing the construction work within the scheduled deadline and to the highest quality standards. I am delighted to thank Mazaya Qatar and its officials for the confidence placed in us.”
Besides al-Baker and Wenhao, who signed the agreement for their respective firms, the event was attended by Zhang Zhiliang, Chinese ambassador; Rashid al-Nafisi, Al Mazaya Holding chairman and board member of Mazaya Qatar; and Naif al-Awadi, Al Mazaya Holding CEO.
Sinohydro Corporation was founded in 1950 and is a leading Chinese construction firm. The company ranks among the top 50 worldwide construction groups and employs some 130,000 people in China, Asia, Africa, Latin America and Europe.
