Lusail Real Estate signs pact with Marafeq |
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DOHA: Lusail Real Estate Development Company WLL and Marafeq Qatar, a leading Multi-Utility Company in Qatar, signed a Memorandum of Understanding (MoU) to proceed with the design, construction, financing, maintenance and operation of utilities for Qatar's groundbreaking Lusail development.
The MoU was signed by Mohammed bin Ali Al Hedfa, Chief Executive Officer of Lusail Real Estate Development Company and Charles Dupont, Chief Executive Officer of Marafeq Qatar.
Under the terms of the MoU, Marafeq Qatar will design, finance, procure, operate and maintain the district cooling, waste collection, gas supply system and provide the studies in water and electricity networks for the 35 square kilometre Lusail Development located north of Doha.
Commenting on the MoU, Al Hedfa said: "To create a development of global standards, we plan to work with Qatar's leader in utility supply and management. Marafeq Qatar's utility solutions will significantly contribute to our vision of Lusail as a breathtaking development that will dramatically improve our country's economic and physical profile."
"Marafeq Qatar is proud to announce this major partnership with Qatar's most prestigious development "Lusail". Our potential partnership is in line with one of the core principles of Marafeq Qatar -- to select the best partners to further develop Qatar by providing first class utility services which meet or exceed the very best global standards", said Yousef bin Ahmed Al Hammadi, Marfeq Qatar Chairman and Managing Director.
The Marafeq-Lusail MoU outlines plans for Marafeq Qatar to prepare detailed designs and specifications for waste collection, district cooling and gas networks the entire Lusail development with work being initiated in two of Lusail's busiest neighborhoods - the Marina District and Fox Hills.
Located at the southern end of Lusail and the first phase in execution, the Marina District will act as a lively hub for the city overlooking the Marinas and providing waterfront residential, mixed-use, commercial, and hotel space with large open spaces leading to the waterfront Marina boardwalk.
The stunning centerpiece of Lusail, Fox Hills District is designed as a medium-density inner city residential area combined with mixed-use buildings. The district is split by Lusail's main commercial street running from North to South and surrounded by landscaped parks.
Marafeq Qatar, a JV between Qatari Diar (26 percent), BARWA Real Estate (25 percent), GDF SUEZ (24.5 percent) and SUEZ Environment (24.5 percent), was established to become the leader of Multi Utility Services provider in Qatar and the region.
The company's focus will on multi-utility facilities and services in the fields of water desalination, and distribution, waste water treatment, solid waste collection and treatment, and a wide range of energy services such as district cooling, gas supply, and power transmission and distribution. It will have the values of an integrated utilities one-stop shop approach, offering the best technology in a timely and cost effective manner, focusing on long term sustainability and environmental awareness.
"Marafeq Qatar is the outcome of Qatar and the Region's major economically growth in urbanisation. The company will offer multi-utility facilities and services to mega projects aiming to contribute to the development of the region's evolutionary cities of the future," Al Hammadi added.
© The Peninsula 2009
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