283 Million funding from Qatar Islamic Bank for macro residential project in Doha

The project, with the name of "Lavender Village." will nest 240 villas and 40 flats and is planned to be completed within 24 months.

Mr. Abdullatif Al Meer, Head of Business Group and Mr. Adel Hassan, Executive Manager for Corporate Financing & Services signed for the bank and Sheikh Fahad Abdullah Al Thani as Owner.

The Contracting Contract was signed with "Athar Construction & Development Co." represented by its General Manager Mr. Hossam Ibrahim, whereas Mr. Waddah Azraq, the Consultant's General Manager signed the Consulting Contract on behalf of his company "South West Architecture".

Mentioning the significant role QIB is assuming in supporting the national economy, Mr. Adel Hassan stated that the funding of this project represents a qualitative additive to the bank's Project Financing activities which has become a corner stone in the Qatari economy.

The project, of a Western style, will be erected in front of the "Gharrafa Sportive Club" over 65,000 m2 It will host a Mosque, a club, commercial shops, a kindergarten, several swimming pools and playgrounds in addition to open green areas.

Signature ceremony attended by Mr. Ahmad Youssof, Chef Executive of the "Fahad Bin Abdullah Property Group" on behalf of the Owner, and Eng. Mohammad Afifi QIB's Deputy manager- R.E. Dept and Eng. Ayman Dawood .Also attended the signature ceremony. Ghassan Al Ya'coob, and Awni Omeirah, Contractor's Projects Managers.