(MENAFN- The Peninsula) By Mohammad Shoeb / The Peninsula
The Special Economic Zones Company (Manateq) is set to announce huge business and investment opportunities for private companies, including for those keen to invest in Qatar's booming hospitality and logistics industries.
These announcements, especially for the Um Alhoul SEZ for the water front projects development is to be announced by the first quarter of 2018, said a top official of Manateq, the state-backed company responsible for overseeing the development of economic zones, industrial parks and warehouse complexes across the country.
'Like Ras Bufontas, Um Alhoul also have water front. We intend to develop hotels and residential apartments there also, which are going to be more for like businesses and holiday facilities. We are trying to attract different types of investors, which will be announced by the first quarters of 2018, Fahad Rashid Al Kaabi, CEO of Manateq told The Peninsula recently.
Al Kaabi added: 'We are working to develop the basic infrastructure, such as electricity and water in these economic zones, which is expected to be completed by the end of 2018. Soon we will invite local as well as international businesses and developers to invest in these ambitious projects.
Manateq is the leading developer and operator of these special economic zones, which include Ras Bufonta economic zone (spread over an area of 4.01 square km) near the iconic Hamad International Airport (HIA), and Um Alhoul (in an area of 34 square km), which is strategically located adjacent to Hamad Port, the country's dominant gateway for imports and exports.
Manateq within this month unveiled the signing of a series of landmark deals with private investors, to the tune of about QR1bn, for the development of several hotels, hotel apartments and residential buildings in the Ras Bufontas SEZ. And similar deals are to be signed with more local and international investors in the coming days.
'As a SEZ company, we are trying to attract more and more business partners to invest in anything related to air cargo, whether industrial or logistics, for the Ras Bufontas SEZ. We aim at attracting more than QR3bn worth of investment in industrial and logistics facilities. We have already signed (agreements) with big international companies, which will be announced later on, said Al Kaabi.
He said that similar big deals are expected to sign for other SEZs, such as Um Alhoul, which will create further business and investment opportunities for small and mid-sized companies in the future.
'In Um Alhoul SEZ, there is also a water front area, where we are going to develop residential and hospitality facilities. But those properties are going to be more for the business and holidaying facilities, said Al Kaabi.
In Ras Bufontas zone, there will be five hotels and the rest of the facilities will be residential apartments. The tenders for other project developments are going to be announced within a month. Qatar is not only attracting investors and competing with other international special economic zones, but also reviewing its investments in the region, he said.
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