The sale of this commercial plot is one of the most prominent positions within this new fully integrated business cluster, dedicated to the Oil and Gas Industry and is due for completion in 2009. This is one of the Energy City's biggest deals yet and coming only one week after Energy City Qatar announced phenomenal sales last week of 1.6 Billion QR.
QREIC is one of the largest companies leading the property development and engineering art sector in Qatar. The success of QREIC is based on quality, service, creativity, care, trust and diversity in all its operational activities and this monumental deal further enhances its policy of building a diverse portfolio of investments and shows its commitment to the Oil and Gas industry in Qatar.
Energy City Qatar, which will cover an area of approximately 1.2 million square meters, is a realized futuristic vision, synergistic with the Qatar government's drive to create a comprehensive home for the Gulf's energy industry and those who work in it.
Commenting on the signing today, the Chairman and Managing Director of QREIC, H.E Sheikh Khalid bin Khalifa bin Jassim Al Thani stated "Energy City Qatar is a truly unique project and we as a company are proud to be investing in the new home of the Oil and Gas industry for the Middle East. Their business aims, values and goals are synergistic with our business and this deal will further cement our business relationship".
The final details of the deal remain confidential but commenting on the deal Mr. Hesham Al Emadi said "This is another great milestone for Energy City Qatar, this deal further proves earlier comments I made last week on our outstanding sales results, that Energy City Qatar will be a huge success and this is due to the support of our local investors such as QREIC. The experience of QRIEC in developing energy business related projects and its knowledge of their needs are an added value to our partners in Energy city. We are looking forward to working with them to reach the next great milestone in this wonderful project".
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Energy City Qatar and Qatar Real Estate Investment Company sign mega deal
- Qatar: Sunday, April 01 - 2007 at 09:14
- PRESS RELEASE
At the headquarters for The Qatari Real Estate Investment Company, H.E Sheikh Khalid bin Khalifa bin Jassim Al Thani, Aqaria Chairman, signed a land and development deal with Energy City Qatar's CEO Mr. Hesham Al Emadi worth 700 Million Qatari Riyals.
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About Energy City Qatar (ECQ)Energy City Qatar is a fully-integrated business cluster -and is the -region's first oil and gas industry hub. ECQ will provide - a single point of access to the Middle East's - Oil & Gas players in the hydrocarbon value chain.
At a cost of US$2.6 billion, ECQ is a master planned development comprising low-rise commercial for 20,000 people and luxury residential for 10,000 people set within the world's first e-City which will provide dynamic solutions for all for all facets of the Energy Industry.
ECQ - will be home to - the industry leaders in Oil &Gas production, IOCs, NOCs, support services, infrastructure and downstream activities, shipping and trading, market and resource data, intellectual property and energy trading.
ECQ -is located in the major new city development, Lusail, which in addition to - business and entertainment districts will be home to up to 200,000 residents.
About The Qatari Real Estate Investment Company
Founded in 1995, Qatar Real Estate Investment Company (QREIC) is the first and only joint Stock company listed in the Doha Stock Market and year 2004 has been a highly successful year for QREIC. QREIC has undertaken some of the largest real estate development Projects for both Qatar Petroleum and other Govt. Agencies such as post Office. Urban Planning Authority etc. in addition to massive development directly by QREIC in the commercial district of Doha in Al Sadd Area for both residential and commercial Office space development with advance booking for space by some of large companies operating in Qatar QREIC is also planning to enter into tourist development projects as the country is aggressively moving towards becoming a major family tourist destination with all the modern facilities but yet retaining its traditional culture. The Company is committed to Islamic laws (Sharia). It is worth pointing out that all the business of The Qatari Real Estate Investment Company is in compliance with the Islamic Sharia.
For further information/interviews/images please contact:
Annie Kechician,
GCI Public Relations
Doha, Qatar
Tel: +974 4283144
Posted by Lara Lynn Golden, News EditorSunday, April 01 - 2007 at 09:14 UAE local time (GMT+4)
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This article was updated on Sat Apr 07 2007.
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