Chinese giant wins $130m deal for Qatar project
Sinohydro to build Sidra Village over 20 month construction period
Mazaya Qatar Real Estate Development Company said on Saturday it has awarded a $130m construction contract to China's Sinohydro.
The agreement will see the Chinese company construct the Sidra Village project and deliver it in 20 months.
Sidra Village consists of 1,165 residential units, including 658 one bedroom apartments and 507 two bedroom apartments, Mazaya Qatar said in a statement.
Mazaya Qatar said it has signed a 20 year Build, Operate and Transfer (BOT) agreement with Qatar Foundation for Education, Science and Community Development to build and manage the Sidra Medical and Research Centre's residential project.
Seraj Al Baker, CEO of Mazaya Qatar Real Estate Development, 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."
Al Baker added: "We concluded that Sinohydro is the ideal partner to achieve this important project, due to their track record of successes in carrying out similar projects."
Sinohydro Corporation was founded 1950 and ranks among the top 50 global construction groups, employing 130,000 people in China, Asia, Africa, Latin America and Europe.