Manateq signs QR 550 million partnership with Ismail Bin Ali Group

Manateq, the leading provider of special economic zones, industrial zones, logistics & warehousing parks in Qatar, has signed a landmark agreement with Ismail Bin Ali Group (IBA) to develop and operate accommodation buildings that will house more than 8,700 workers in the Ras Bufontas special economic zone (SEZ).

The agreement, which emphasizes the strong partnership between the public and private sectors in the development of Qatar, will result in private sector investment totaling QR550 Million. Ismail Bin Ali Group has been awarded to construct and manage the facility in line with the Build, Operate, Transfer (BOT) model, for 25 years.

The new development will sit on an area measuring approximately 150,000m², which has been handed over by Manateq, and will accommodate up to 8,784 employees and workers who will be working in the factories and warehouses within Ras Bufontas and the surrounding areas. Designed to enhance the overall experience for both employees and employers, it will include worker, supervisor and technician accommodations in the form of fully-equipped rooms, 1 and 2-bedroom apartments. The complex includes catering, laundry, training, indoor and outdoor recreational facilities and community areas. Along with a public retail center, there will also be a mosque, medical, banking and administrative facilities.

Work on the project, which will begin this month, is expected to take up to three years to complete. Underpinning the strong bond Manateq has formed with the private sector to successfully contribute to the diversification and economic development of Qatar, IBA Group will offer competitive rental rates for companies interested in housing their workforce in the new development. “This is a landmark agreement for Qatar and builds on the success that Manateq has achieved to date as we continue with the development of our Special Economic Zones, which play a crucial role in transforming the country into an industrial and logistics hub for the world,” Fahad Rashid Al Kaabi, CEO of Manateq, said. “Our partnership with Ismail Bin Ali Group is a key indicator of how collaboration between the public and private sectors can have a beneficial contribution on the economic success of our country.”

Hamad Mohammed Esmael Al Emadi, CEO of IBA Group, said: “We believe in the strength of Qatar's economy and we would like to thank our government for its continuous and unlimited support to the private sector and our role is to contribute to the achievement of Qatar’s Vision 2030.” “We are proud to be working with Manateq to drive the economic development of Qatar,” the CEO of IBA Group added.  “We are committed to quality and performance and our reputation in these two areas speak for itself. Clients who invest in this leading new development will be assured of a quality product that will benefit them and their workforce.”

Ras Bufontas SEZ is strategically located next to Hamad International Airport, providing businesses with easier access to global markets. The special economic zone is aimed at various sectors including firms specializing in healthcare and medical devices, light industries, advanced technology and air cargo services.