Manateq Celebrates Completion of Four Warehousing Parks Construction

Doha, November 28 (QNA) - Economic Zones Company (Manateq) CEO Fahad Rashid Al Kaabi said the four Warehousing Parks developed through a collaboration between the public and private sectors, under the supervision of Manateq is a first-of-its-kind project. "Manateq will continue to be a catalyst for growth of a robust private sector in Qatar and thereby positively contribute in the economic growth of Qatar," he added. During the opening event celebrating the completion of the construction of four Warehousing Parks in Umm Salal attended by HE Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, Al Kaabi said the project is a classic example of world-class logistic parks that reflect our trust in the private sector and its commitment to provide quality warehousing facility with the best of infrastructure, designs, construction quality and connectivity. He added, "This project supports Manateq's vision to promote economic diversity by launching value-added investments for the State of Qatar. The project also reflects the company's commitment to providing a high-quality business environment for local investors to help achieve Qatar National Vision 2030." For his part, President of the Technical Committee to Stimulate Private Sector Participation in Economic Development Projects Khamis Ahmed Al Mohannadi said, "The State of Qatar has succeeded in strengthening its economic position and engaging in the globalized economic space, effectively and efficiently, translated by registered growth rates, which is expected to reach about 2.8 percent during the current year. It is one of the highest growth rates in the region according to International Economic Organizations, and is expected to reach 3 percent in 2019, supported by the dynamics of the non-oil sectors, which is expected to grow by at least 6 percent according to International Monetary Fund (IMF) estimations, driven by the private sector contribution that recorded a sound growth over the past year not less than 5 percent." He added, "The successful completion of the warehousing parks development is another milestone in our drive to stimulate more economic and commercial activities in the State of Qatar and contributing effectively to the achievement of the economic development pillar within the framework of Qatar National Vision 2030. Al Mohannadi said, "The project demonstrates our continued sustainable future growth for everyone by enabling companies to operate easily and flexibly, providing better access to developing markets and optimizing resource consumption by providing ready- to-use warehousing options that meet all storage requirements, including food products, which in turn will ease the burden on investors, and supports the process of economic diversification in the country." Manateq, the leading provider of Logistics and Industrial Zones and Warehousing Parks in Qatar, announced the successful completion of the construction of its four Warehousing Parks under the supervision of the Technical Committee to Stimulate Private Sector Participation in Economic Development Projects. This achievement was celebrated at Bu Fesseela warehousing park. The completion of this landmark project is in line with the governments thrust to encourage public- private partnerships (PPPs) in major projects and the contribution of the private sector in the state's development projects. In 2014, Manateq invited developers in the field of warehousing and logistics services to tender for the construction of the four Warehousing Parks projects. Following the tendering process, contracts for the project were awarded to four developers on a Build-Operate-Transfer (BOT) basis. The four companies were Gulf Warehousing Company (GWC) for Bu Sulba warehousing park, Al Asmakh Real Estate Development for Bu Fesseela, Dohatna Logistics Parks for Umm Shaharaine 1, and Barwa Real Estate Group for Umm Shaharaine 2. The total area of the four Warehousing Parks is approximately 2 million square meters. (QNA)