Manateq Signs QR 550 Million Deal

Doha, July 10 (QNA) - Economic Zones Company (Manateq) has signed a landmark agreement worth QR 550 million with Ismail Bin Ali Group (IBA) to develop and operate accommodation buildings that will house more than 8,700 workers in the Ras Abu Fontas special economic zone (SEZ). The agreement was signed between Manateq CEO Fahad Rashid Al Kaabi and IBA CEO Hamad Mohammed Ismail Al Emadi. The agreement emphasizes the strong partnership between the public and private sectors in the development of Qatar, will result in private sector investment totaling QR 550 million. The new development will sit on an area measuring approximately 150,000 square meters, which has been handed over by Manateq, and will accommodate up to 8,784 employees and workers who will be working in the factories and warehouses within Ras Abu Fontas and the surrounding areas. Designed to enhance the overall experience for both employees and employers, it will include worker, supervisor and technician accommodations in the form of fully-equipped rooms, 1- and 2-bedroom apartments. The complex will include catering, laundry, training, indoor and outdoor recreational facilities and community areas. Along with a public retail center, there will also be a mosque, medical, banking and administrative facilities. The Ras Abu Fontas SEZ holds a unique strategic location, close to Hamad International Airport, giving companies the opportunity to easily reach global markets. The economic zone aims to attract companies of different sectors including health, medical supplies, light industries, advanced technology, air transport services and others. (QNA)