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 and world energy industry and those who work in it. The ideal location satisfies the twin necessities of easy access to the energy industry as well as on hand residential, entertainment and lifestyle facilities. Energy City Qatar is located within the prestigious Lusail development project, a new city that will be home to more than 200,000 residents.
Commenting on the news, Energy City CEO Hesham Al Emadi was delighted with the sales figures: "Investors realize Qatar's potential and understand the benefits that Energy City Qatar has to offer, as it will bring together local and international oil and gas companies, service industry, infrastructure and other companies to interact, compete and cooperate at commercial and technical levels."
With over 82% of the project already sold Mr Al Emadi added "after witnessing the success of our sales only a short period after launch, I am confident that Energy City Qatar will be a huge success and on a par with locations that are synonymous with the energy industry such as Houston, Calgary, Aberdeen, and Singapore, and serve proudly the region with the richest hydrocarbon reserves of all: the Middle East."
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Energy City Qatar achieves sales of 3.5 billion QR
- Qatar: Sunday, May 13 - 2007 at 07:53
- PRESS RELEASE
Energy City Qatar have announced phenomenal pre-sales and sales of more than 3.5 Billion QR (USD960 million USD), only weeks after releasing 92 plots of commercial land for sale to investors & developers and signing a 700 million QR agreement with Qatar Real Estate Investment Company.
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About Energy City Qatar (ECQ)Energy City Qatar (ECQ) is a pioneering development that will be the Gulf's first oil and gas industry hub. ECQ will be a single point of access to markets and expertise, the Middle East home for global players in the hydrocarbon value chain.
Envisioned by Gulf Energy, ECQ aims to attract 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 has the full support of the Qatari Government and aims to lead the way in hydrocarbon above ground resource development.
ECQ forms part of the major new city development, Lusail, which in addition to major business and entertainment districts, will be home to up to 200,000 residents. Qatar is the most progressive, business friendly and the fastest growing economy in the Middle East. Home to the world's third largest natural gas reserves, Qatar has a stable and maturing political environment, a free press, and internationally recognized regulatory environment.
ECQ's lead financial advisor is Gulf Finance House, and PFC Energy is its strategic advisor. Its strategic partners are Abu Dhabi Investment House and Kuwait Investment Company.
For further information/interviews/images please contact:
Farid Trabulsi
Head of Corporate Communications
Energy City Qatar
Telephone: +974 441 1522
Steve Whittaker
GCI Worldwide Public Relations
Telephone: +974 428 3126
Posted by Anne-Birte Stensgaard, Senior News EditorSunday, May 13 - 2007 at 07:53 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Mon May 14 2007.
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