Manateq, which is working to diversify Qatar’s economy by providing premium infrastructure within strategic economic zones, has launched new plot leases at its Birkat Al Awamer Logistics Park, designed for investors.
The 9.4mn sqm park – one of five logistics projects being developed by Manateq – is designed to appeal to companies wanting to build their own facilities through providing them comprehensive solutions that will allow them to build warehouses or workshops, commercial showrooms, offices and staff accommodation - all on one piece of land, the company said in a statement.
The plot sizes will vary from 800sqm to more than 20,000sqm to respond to the diversified requirements of the intended projects.
Leases are available at QR20 per sqm per year with investors being incentivised by a two-year, rent-free grace period and flexible construction procedures, the statement notes.
“Investors in Birkat Al Awamer will benefit from proximity to vital logistics gateways such as Hamad Port. This is a highly strategic location with convenient connection to Al Majd Road, which provides easy access to Hamad Port, facilitating speedy logistics delivery,” said Manateq CEO Fahad Rashid al-Kaabi.
Birkat Al Awamer is seen as having a "strong appeal" for various logistics sectors, including but not limited to the construction sector, food sector, aluminium, stone and steel workshops, and multi-purpose storage operators.
Potential investors are required to provide valid commercial registration and a business plan as part of their application submission, which can be processed via the Manateq website, www.manateq.qa.
“We have designed an easy application procedure to ensure swift approvals decision-making. Once applications are received with the required documentation, the Manateq Investment Committee will assess them and respond on approvals or otherwise in a timely manner,” al-Kaabi pointed out.
Last year, Manateq signed a memorandum of understanding with Qatar Islamic Bank (QIB) to facilitate financing for its logistics parks investors. Under the agreement, investors in Manateq’s logistics parks at Jery Al Samur, Birkat Al Awamer, Al Wakra and Aba Saleel, can raise 60% of their project financing against land and personal guarantees from QIB.
The finance partnership demonstrates Manateq’s ongoing client support approach, which, earlier this year, also saw the company offering investors in its all logistics parks and industrial zones a nine-month rent exemption to help them better navigate business difficulties experienced during the Covid-19 pandemic.
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