Private sector developers and operators to build and manage properties in Ras Bufontas SEZ
Manateq, the leading provider of special economic zones, industrial zones, logistics and warehousing parks in Qatar, held a signing ceremony to unveil the development of two hotels and three hotel apartment complexes in its Ras Bufontas Special Economic Zone (SEZ), resulting in private sector investment worth QR488.5 million.
The signing ceremony was held at Rotana City Center Hotel. Manateq CEO Fahad Rashid Al Kaabi was present at the ceremony, along with representatives of the property developers involved in the project.
Under the landmark agreement, two business hotels and three hotel apartment buildings will be developed on the waterfront at Ras Bufontas SEZ, on the land handed over by Manateq.
Manateq CEO Fahad Rashid Al Kaabi said that the deal is yet another milestone for the company and complements their success, and the partnerships they have with the private sector.
Our ability to be able to offer such service which eases the process for investment, offering businesses a tourism district in one location, and the appetite from entities to partner with us is very encouraging for the development of industry and various other sectors in Qatar.’
One of the hotels will be constructed by Zukhrof Trading and Contracting and operated by the Wyndham Hotel Group, while the other 185-room property will be developed by Bab Ishtar Trading and Contracting and operated by Aspire Hospitality to have another branch of The Torch, Doha. Both properties will be developed with the Build Operate and Transfer (BOT) model for 25 years.
The hotel apartments meanwhile, will each have a minimum of 100 rooms and will be constructed by Hotel Musherib WLL, Ras Bu Fantas Trading and Contracting and Al Sraiya Holding Group, and will be operated by Tourist Hotel, Katara Hospitality and Al Sraiya Hotels & Hospitality, respectively.
Scheduled for completion by April 2019, the business and tourism venture will be located on the waterfront at Ras Bufontas, and will service business travellers working in the Ras Bufontas SEZ and surrounding areas. Guests will benefit from a scenic and relaxed environment, while within easy reach of the retail and leisure options available on the shoreline and within the SEZ.
Ras Bufontas SEZ is expected to become a business hub for technology, business services, logistics, advanced manufacturing, healthcare and medical devices. In addition to hotels and hotel apartments, the facilities in this zone will include residential units, office spaces, showrooms, retail outlets, and public spaces all located along the panoramic waterfront.
For more information, visit the Manateq website through this link.