Manateq held a signing ceremony to unveil the development of two hotels and three hotel apartment complexes in its Ras Bufontas Special Economic Zone (SEZ), resulting in private sector investment worth QR 488.5 million.
“This announcement is yet another milestone for Manateq and complements the success we have enjoyed so far and the partnerships we have formed within the private sector as we continue to develop our special economic zones and logistics parks,” Fahad Rashid Al Kaabi, CEO, Manateq, said.
He added: “Our ability to be able to offer such a service that eases the process for investment offering businesses a tourism district in one location and the appetite from entities to partner with us is very encouraging for the development of industry and various other sectors in Qatar.”
One of the hotels will be constructed by Zukhrof Trading and Contracting and operated by the Wyndham Hotel Group, while the other 185-room property will be developed by Bab Ishtar Trading and Contracting and operated by Aspire Hospitality to have another branch of The Torch, Doha. Both properties will be developed in line with the BOT model for 25 years.
The hotel apartments, meanwhile, will each have a minimum of 100 rooms and be constructed by Hotel Musherib, Ras Bu Fantas Trading and Contracting and Al Sraiya Holding Group and operated by Tourist Hotel, Katara Hospitality and Al Sraiya Hotels & Hospitality, respectively.
Scheduled for completion by April 2019, the business and tourism venture will be located on the waterfront at Ras Bufontas and will service business travelers working in the Ras Bufontas SEZ and surrounding areas. Guests will benefit from a scenic relaxed environment, while being within easy reach of the retail and leisure options available on the shoreline and within the SEZ.