Top real estate companies sign US$ 762.86 mn contract to build and operate four warehouses in Qatar SEZ
Posted on 16th December 2014
Ali Bin Ali, Barwa Real Estate Group, Al Asmakh Real Estate Projects and Gulf Warehousing Company have signed build and operate contracts for four warehouses in the special economic zones (SEZ) of Qatar.
The four Qatari companies will invest QR 2.778 billion (US$ 762.86 million) in the Storage Areas Project. Witness to the event was the Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani, reports the Qatar Tribune.
The warehouses, which will be built on four different sites simultaneously, will be completed within 24 months. Implemented under a PPP model, the government has allotted 500,000m² of land for each warehouse, with three plots made available in the north of Qatar and one plot located in the south.
The Storage Areas Project aims to provide suitable storage facilities for SMEs and seeks to develop precise controls for a combination of products. Covering a variety of warehouses, the project has plots for two warehouses located in Umm Shahreen area, one in Bo Fasila area and another plot in Bo Salba.
The warehouses will provide electricity, water and full utility services such as transportation and communication networks, the daily reports.
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