Bidders for the reclamation contract, valued at in the region of $500 million, include South Korea’s Hyundai Engineering & Construction Companywith the US’ Great Lakes Dredge & Dock Company; Qatar Dredging Company, with the UAE’s Al-Jaber Group; the local Aljaber Engineering, with Kuwait’s Gulf Dredging Companyand Royal Boskalis Westminsterof the Netherlands; and China’s Sinohydro.

The package covers: the excavation and dredging of 24 million cubic metres (mcm) of land to create a new shoreline, three access channels, inter-tidal flats and an artificial lagoon; offshore dredging of about 2.5 mcm; filling and reclamation of coastal land and manmade islands with a total volume of about 16 mcm; construction of edge treatment structures; and design and build work on the relocation of existing roads and the shoreline configuration.

The Lusail development covers an area of about 35 square kilometres to the north of the capital. The project calls for the construction of hotels, houses, apartments and more than 300,000 square metres of retail space along 8.5 kilometres of shoreline.

The High Supreme Council for Economic Affairs & Investment established Qatari Diar, which was incorporated last December. It has an initial capital of $1,000 million.