Qatari Riyal 1.69 billion (£297 million) Contract for UrbaCon-Sacyr JV
Qatar's UrbaCon Trading & Contracting (UCC) and Spanish Joint-Venture partner, Sacyr, have been awarded a Qatari Riyal (QR) 1.69 billion ($297 million) design and build contract for a development in the Ras Bufontas district of Doha which is adjacent to Hamad International Airport (HIA).
The award was announced by Manateq, the economic development agency established by the Government of Qatar to develop the country's first Economic Zone which is expected to cover an area of 4.1 square kilometres.
Moataz Al-Khayyat, Chief Executive of UrbaCon, described the award as "another successful step which proves our ability to lead big construction projects in cooperation with Sacyr and other global construction companies".
In recent years UrbaCon has been involved in several high-profile projects including the Mall of Qatar, Banana Island Resort and the Sheraton Doha Hotel and Convention Center.