Qatar extends deadline for private-sector tourism scheme

05 May 2014

Proposals must include financing plans

Qatar has extended the deadline for private sector bidders to submit proposals for a number of tourism projects in the Gulf country.

The new deadline is the 29 May and the extension was granted due to demand from potential developers, says a source.

Qatar Development Bank (QDB) and Qatar Tourism Authority (QTA) are developing schemes such as a luxury dhow cruise liner, a street market and a tourism information and ticketing organisation as part of an initiative to promote itself as a hospitality and tourism destination. The project also aims to support small and medium-sized businesses.

The proposals need to include a business plan including details on how the projects will be financed.

Contractors can tap QDB’s direct lending scheme, which is a programme that provides both long-term project financing and short-term raw materials facilities, which are revolving credit facilities that can be used to procure raw materials.

It is anticipated the final financing packages for the projects will also include commercial bank financing, and contractors’ proposals should include an outline of the proportion of QDB financing versus commercial debt financing they require, says a source familiar with the project.

QDB can also provide pre-financing support to potential bidders before a successful contractor has been selected to help them develop a bankable business plan.

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