Investors to receive Ras Bufontas land by 2016

By Peter AlagosBusiness ReporterManateq, Qatar’s developer and operator of special economic zones, is expecting to hand over land in its Ras Bufontas project to local and international investors by the first quarter of 2016, Manateq CEO Fahad Rashid al-Kaabi told Gulf Times.The project delivery of the 4.1sq km Ras Bufontas special economic zone will occur in phases with phase one operations expected to start in 2017, he explained.The land for the first and second development phases would be delivered to investors in the first quarter of 2016, but Manateq will start receiving applications for land allocation from investors by June or July this year.“We will be happy to receive all the requirements from both local and international investors before handing over the land to them in the first quarter of 2016,” said al-Kaabi, on the sidelines of the launching of the “Invest in Qatar Forum” yesterday at the Gulf Organisation for Industrial Consulting (GOIC) headquarters.Al-Kaabi stated that Manateq’s participation in the GOIC-initiated “Invest in Qatar Forum,” to be held on April 27-28 at the St Regis Doha, would help the company tap potential investors and encourage them to locate in Qatar’s special economic zones.“The forum is a very important event, which is why almost everybody is trying to participate in order to create business opportunities in the near future, especially for the industrial sector.“We decided to participate in this forum to encourage local and international investors to bring their businesses to Qatar, and inform them of the necessary regulations and requirements needed to invest in the country, especially in the economic zones being run by Manateq,” al-Kaabi stressed.The world-scale Ras Bufontas was the first special economic zone to be developed by Manateq. Its proximity to the Hamad International Airport makes it an ideal location for Qatar’s advanced technology and logistics businesses.The zone will consist of facilities and services that are ideal for clean manufacturing, supply chain and service activities in high value added sectors such as information and communications technology (ICT), electronics, alternative energy, healthcare, building systems, and aviation.It would also provide opportunities for third party and specialised logistics, including air freight, perishable and product distribution. For light industrial, the Ras Bufontas will be ideal for product warehousing and office based service activity.In addition, Ras Bufontas will incorporate residential and commercial sectors, including a global marketplace offering showrooms and wholesale and retail space for duty-free shopping.The total project area is divided into ICT, 1.4%; healthcare, 0.3%; energy and environment, 0.5%; logistics, 0.3%; global warehouse, 0.5%; and high-tech, 0.3%. Aside from Ras Bufontas, Manateq also has two other special economic zones under its wing: the 33.52sq km Um Alhoul, which broke ground last month, and the 48sq km Al Karaana, the largest of the three zones.“The economic zone projects in Qatar contribute highly in attracting local and international investments from various sectors, which helps boost the industrial sector and in achieving economic growth, diversification, competitiveness, and job opportunities,” al-Kaabi stressed.