Developers Out in Full Force at Cityscape Qatar 2018

Doha, April 23 (QNA) - Day two of Cityscape Qatar 2018 got underway today with the continuation of an array of project launches and signing ceremonies set to shape the country, and saw experts and influencers highlight some of the major investment opportunities in the local and international property sector. Running until Wednesday 25th April at the Doha Exhibition and Convention Centre (DECC), the 7th edition of Cityscape Qatar brought together up to 50 local and international exhibitors, and provided them with the platform to launch a range of leading real estate projects. Within the Day two events, United Development Company (UDC), one of the largest Qatari shareholding companies and master developer of The Pearl-Qatar, has signed three contracts worth QR 334 million for the development of Gewan Island. Gewan Island, UDC's current biggest real estate project, spans across 400,000 sqm. The island, which derives its name from the full-round, pink-tinted and perfectly shaped pearl, will support a mix of property types, catering for different accommodation and investment needs. Commenting on the signing of contracts, UDC President and CEO Ibrahim Al-Othman said: "We are very confident that Gewan Island and its real estate offerings will attract both local and international investors. Our investment in these construction contracts reflects our commitment towards shareholders to working with leading real estate development companies as part of our efforts to implement development projects that enhance Qatars position on the global investment map." SNC-Lavalins Faithful+Gould business was chosen to provide project management services for UDCs Gewan Island development. Ibrahim Al-Othman and Faithful+Gould's Regional Managing Director Mr. Campbell Gray signed the contract that tasked the company with implementing the delivery strategy and program for Gewan Island and working with all stakeholders to plan for earliest possible completion, together with procurement and management of other consultants and contractors. Faithful+Gould is currently overseeing the development of the design for the project, along with providing technical peer review and value engineering options. "We are proud to be working with UDC on its flagship project, Gewan Island, which indicates the robustness of the local real estate sector and its strength," said Gray. "At Gewan Island, we will use a unique mix of digital platforms and tools that support our service delivery model through innovation and automation to enhance the efficiency of project management for our customers and save both time and money. Our cooperation with SNC-Lavalin, a global provider of professional and project management services, enriches our global experience in this field, which distinguishes us from competitors", added Gray. Dar Al-Handasah was appointed to carry out the design consultancy services pertaining to master planning, infrastructure, architecture and engineering consultancy services of Gewan Island development. Ibrahim Al-Othman and Mr. Hussein Hamieh, Dar Al-Handasahs Director of Operations, Qatar, signed the contract at UDC's pavilion at Cityscape Qatar 2018 in the presence of Imad Al-Rimawi, Dar Al-Handasahs Qatar Resident Manager. Dar Al-Handasah's scope of services will cover master planning and infrastructure, as well as buildings architectural and engineering design services. Infrastructure services include designing roads and bridges as well as marine works in addition to water supply, firefighting, wastewater, storm-water drainage and irrigation networks, power networks, telecommunication and low current networks, a gas network, and a solid waste vacuum network. The scope of services will also cover the environmental impact study, the traffic impact study as well as the preparation of tender documents. "We are very proud to be appointed by UDC on their leading project, Gewan Island, one of the major real estate ventures in the Gulf region, which features recreational facilities, residential units and villas among other facilities," Hamieh said. "Dar Al Handasah is a leading international multidisciplinary consulting firm in engineering, architecture, planning, environment, project and construction management, and economics, and operating in 40 offices worldwide, with a presence in Qatar since 1978," he added. Ibrahim Al-Othman signed a contract tasking Middle East Dredging Company (MEDCO) with the execution of the marine works including marine dredging and reclamation, the construction of sand beaches, shore protection rock revetments, breakwaters, and quay walls for Gewan Island. Construction works shall commence later in May 2018 for a year and half period. Alberto Mino, General Manager of MEDCO signed the contract in the presence of HE the Ambassador of the Kingdom of Belgium to Qatar Dr. Bart De Groof. Msheireb Properties and Qatari Diar, showcased its projects that are both slated to change the way people work, commute and play in the country; their prospective models for the future of the city of Doha garnering interest from stakeholders and prospective investors alike. Msheireb Properties, a subsidiary of Qatar Foundation for Education, Sciences and Social Development, opened its pavilion at Cityscape Qatar offering visitors access to new leasing opportunities at Msheireb Downtown Doha (MDD). Lee Talbott, Director of Sales and Leasing at Msheireb Properties added: "The whole project is being done in phases and will be complete by 2020." The project is currently 88% complete. Qatari Diar Real Estate Investment Company announced that it had completed 80% of Lusail City's infrastructure projects. The estimated total cost of developing the City of Lusail is QAR 40 billion, which will be spent on developing infrastructure and services. Faariss Khalil, Exhibition Manager for Cityscape Qatar said the success and interest from government and industry stakeholders observed so far at Cityscape was encouraging for the countrys real estate sector. Over the next few days, real estate trends, investment hotspots in the country and around the world, and REITs will be discussed by real estate experts at Cityscape Talks, held on the show floor and available to all visitors. Cityscape, the worlds leading real estate event portfolio for emerging markets, debuted in the State of Qatar in 2012. The annual event features an exhibition and numerous learning and networking features designed to stimulate the development of Qatars real estate industry. Cityscape Qatar presents an unparalleled line up of opportunities for the local and regional real estate community, as the event allows delegates and visitors to engage in a dynamic environment that gives insight into the future of Qatari and Middle East real estate. (END)