DOHA: Mazaya Qatar Real Estate Development Company has awarded China's Sinohydro a contract worth QR473m ($130m) to construct the Sidra Village project.
The signing ceremony at the La Cigale Hotel in Doha was attended by Seraj Al Baker, CEO of Mazaya Qatar and Wu Wenhao, Sinohydro (Gulf) Managing Director, who signed the contract on behalf of their respective organisations.
Chinese Ambassador to Qatar Zhang Zhiliang, Rashid Al Nafisi Chairman of Al Mazaya Holding and Board member of Mazaya Qatar, and Naif Al Awadi, CEO of Al Mazaya Holding were also present.
According to the contract, Sinohydro will undertake all the construction and finishing works of the project, and will deliver the complete project in 20 months.
Sidra Village consists 1165 residential units, including 658 one bedroom apartments of approximately 50 square meters each, and 507 two bedroom apartments of approximately 85 square meters each.
Mazaya Qatar had signed a 20 year Build, Operate and Transfer (BOT) agreement with Qatar Foundation to build and manage the Sidra Medical and Research Centre's residential project.
Speaking on the occasion, Seraj Al Baker said: "We are thrilled to sign another construction contract in the history of Mazaya Qatar. It is a new milestone and confirms our professionalism and determination as a company and our commitment to deliver Sidra Village project within the scheduled deadline".
Wu Wenhao said: "We are thrilled to be selected for the Sidra Village residential project and proud of this new achievement in Qatar. We have a lot of experience in delivering projects on time in different regions across the world and are confident to complete the construction works within the scheduled deadline and to the highest quality standards."
Sinohydro Corporation was founded 1950 and is considered a leading construction Chinese firm. Sinohydro ranks among the top 50 worldwide construction groups and employs 130 000 people in China, Asia, Africa, Latin America and Europe.
© The Peninsula 2012
