Qatars Al-Khalij Commercial Bank has closed a facility to finance the construction of al-Wakrah Stadium for the 2022 World Cup.
They were awarded the contract for the precinct main works and masterplan project at the stadium in late 2015.
The Zaha Hadid-designed stadium will cover 90,000 square metres and have 45,000 seats.
Whether large scale projects that impact the nation as a whole, or smaller developments that move the country towards a knowledge-based economy in accordance with QNV2030 [Qatar National Vision], Al-Khaliji is ready, willing, and has the capacity to provide the necessary financial support, says Fahad al-Khalifa, the banks group CEO. We will continue to broaden our future projects focusing on infrastructure and logistic financing leading up to the 2022 World Cup.
HBK Contracting Company carried out enabling works for the Al-Wakrah stadium project.
Al-Khaliji previously extended finance for Midmacs work on the Lusail CP4 infrastructure construction contract at the Lusail development. A joint venture of Midmac and Turkeys Yuksel won the estimated $460m contract in 2012.
Midmac also won a $300m contract, in a joint venture with Six Construct, to upgrade the existing Khalifa Stadium in 2014.