Mazaya Real Estate Development has announced the start of construction work on its new project – Mazaya Marina Plaza, located along 220 metres on the Marina Walk in Lusail City, next to the Katara Towers, Lusail Marina project.
The first phase of the project is expected to be completed by July 2022 and consists of an open commercial area divided into restaurants and cafes on the ground level and open terraces on the second and third floors adjacent to the waterfront. The latest external cooling and lighting systems have also been adopted for the convenience of visitors and shoppers.
The project will also comprise of shops facing open spaces, roads and corridors connected to the Marina Walk, which can be accessed through cooled glass corridors. The commercial areas also contain a hypermarket and various children’s playgrounds, as well as contemporary cinemas, in addition to outdoor kiosks and screens. The area of the commercial space is approximately 33,000sq m.
Mazaya Marina Plaza project will contain 5,000sq m of offices above the commercial area, overlooking the waterfront.
The second phase of the project, which will be completed in June 2023, will consist of four residential buildings adjacent to the commercial area. It will consist of 320 furnished apartments of different sizes, part of which will be managed as distinctive hotel apartments.
This stage will also include gardens and different sport fields at high levels, in addition to swimming pools, modern spa, and gymnasium with a total area of 50,000sq m.
Engineer Ibrahim Jaham al-Kuwari, Mazaya Real Estate Development managing director, stated that despite the challenges of Covid-19, the company worked diligently this year to develop a business plan that combines the development of new projects and the acquisition of revenue generating completed real estate properties.
Al-Kuwari also indicated that the Mazaya Marina Plaza project is the company’s first real estate development project for this year. There are also other acquisition and development projects that the company is reviewing and will be announced soon.
As such, Mazaya Real Estate Development contracted with M/S MDC Engineering and Consultancy to carry out the architectural and engineering design work for the project. The company also contracted with Al Bandary Engineering, Trading & Contracting Company to execute the first phase of the project consisting of foundations, retaining walls, and parking lots. The anticipated total cost to complete the two phases of the project is estimated at QR600mn.
