The Qatar Foundation for Education, Science and Community Development (QF) has signed a 20-year build, operate and transfer (BOT) agreement with Mazaya Qatar Real Estate Development (Mazaya) to build and manage two projects in Qatar.
The first project that the agreement covers is the residential part of QF’s Sidra Medical and Research Centre, located in the Education City development on the outskirts of Doha.
The Sidra Residential Compound plot will contain 1,165 residential units for nurses, technicians and other employees working at the Sidra Medical and Research Centre. The initial cost of the Sidra residential project is estimated at QR500m ($137m), and the work is expected to take 30 months to complete.
Mazaya will build the residential properties in the area adjacent to the $3.bn Sidra hospital that is currently under construction. In 2007, a joint venture of Spain’s OHL and US-based Contrack International won the contract to build the $2.3bn Sidra hospital complex, which is expected to be completed in 2012 (MEED 12:3:07).
The second project that Mazaya will build and manage for QF is the QR1bn Marina Mall project. The development will cover a total area of 57,605 square metres and will be built over three levels. The shopping mall is located next to the new marina and yacht club in Doha and is currently under construction.