Obayashi-HBK JV nets $686m Msheireb Downtown Doha
Msheireb Properties awards consortium phase three construction work
Msheireb Properties, Qatar’s leading sustainable real estate developer, has awarded a consortium comprising Obayashi Corporation and HBK Contracting the QR2.5bn ($686m) construction contract for the penultimate stage, Phase 3, of its flagship project, Msheireb Downtown Doha.
The awarding of the construction contract for Phase 3 marks a key milestone in the development of Msheireb Downtown Doha. The construction of Phase 3 is expected to start later on this month
“Awarding the construction contract for Phase 3 symbolises our commitment to the implementation of this project and is testament to the swift progress we are making in its construction,” said Abdulla Hassan Al–Mehshadi, chief executive officer at Msheireb Properties.
“Joining a local company with an international contractor in a joint venture like this helps Qatari companies to further enhance their skills and capabilities and encourages the transfer of knowledge and expertise,” Al–Mehshadi added.
Kotaro Nonaka, executive officer of Obayashi Corporation, speaking on behalf of Obayashi-HBK joint venture said: “We are honoured to be appointed as contractors for this crucial part of the development and to be part of the Msheireb Downtown Doha construction team. We look forward to working closely with Msheireb Properties and we thank them for giving us this exciting opportunity to be involved in the development of this world-class regeneration project.”
Phase 3 involves the construction of a built-up area of approximately 310,000m2 comprising 14 buildings that are up to 22 storeys in height as well as four basement levels offering 2,200 parking spaces.
Phase 3 will comprise two office buildings, 350 residential units spread across 11 buildings, four communal swimming pools in addition to a mosque, retail, hotel, hospitality and community facilities. The 20,000m2 retail offering will comprise 84 units, a 187-key hotel will also be built on an area of 30,500m2.
Described as the world’s first sustainable regeneration of a downtown area in a modern city, the project combines traditional local building practices and design influences with the latest technologies in energy efficiency and environmental management. Msheireb Downtown Doha broke ground in early 2010 and its development will be completed in four phases, Phases 1A, 1B, 1C and Phase 2 have been already awarded with construction progressing as per schedule.
Sustainability is central to the Msheireb Downtown Doha project, in terms of both the conservation of natural resources and the quality of its design. The entire project features sustainable design that consumes fewer resources, generates less waste, costs less to operate, and achieves a reduced carbon footprint.