Agreement signing ceremony with the Redco Construction – Almana Company
H.E Sheikh Abdulrahman bin Mohammed bin Jabor Al Thani, Chairman of Qatar Industrial Manufacturing Company (QIMC), has signed an agreement with the Redco Construction – Almana Company for the construction of mixed towers consisting three towers on QIMC’s land in Al Corniche Street.
The expected cost of the complete project is QRs 1.2 billion. The towers consist of a base of 120,000 square meters, including an underground parking area. Each tower will differ from the other two towers in size and usage. The 29-storey residential tower will offer first-class views of the Corniche and the Bay with balconies of various sizes and features a range of amenities including a spa, gym and swimming pool. The second tower will consist of 23 floors for full office space. The third tower, comprising 38 floors, will be a Luxury Hotel.
A 5-storey base connects the three towers to each other and is designed for commercial activities that will host the public for shopping, dining and relaxation at the Corniche and a large number of parking spaces.
Mr. Abdulrahman Al Ansari, Chief Executive Officer of QIMC said: “QIMC has a unique location on the Doha Corniche, and we are seeking to use this space better by constructing the towers in partnership with reputed international and local consultants. QIMC has so far participated in 20 industrial projects, most of them are in the production stages in various industrial sectors, including petrochemical, chemical, construction and food. In addition, number of new projects are in the stage of incorporation.
The State of Qatar has given great importance to the need of private sector involvement in the economic development process in the country by investing in small and medium industries. This trend was evident in the establishment of the Qatar Industrial Manufacturing Company in 1990, in which the State shared 20% in equity.