Mega $230 million deals signed at QSi expo so far
At a signing ceremony held at the Qatar Sports International (QSi) exhibition on April 6, Sheikh Jassim Bin Thamer Al-Thani, Vice President of the Qatar National Olympic Committee, awarded contracts with a total value of 576.5 million Qatari riyals ($158 million) in connection with the construction and development of four major sports projects.
The first contract to be signed was awarded to Marbu Contracting for the development of the Al-Sadd Club, phase one. The value amounts to QR 300 million and was signed on behalf of Marbu by their Managing Director, Ali Al-Hakeem.
Tadmur Contracting were the successful recipients of a contract worth QR 106.5 million for the first phase of development at the Al-Arabi Sports Club. Signing on behalf of Tadmur was Chief Operating Officer, Dafer Mustafa Hullawa.
Sheikh Al-Thani awarded the next contract on behalf of QNOC to International Trading & Contracting Co., part of the Salam International Group. The contract relates to the development of the Qatar Sports Club with a value of QR 80 million. Signing on behalf of the Salam International group was Hussam Abu Issa, Vice Chairman and COO.
The final signing was with Al-Attiyah Contracting & Trading Co, (ALCAT), for the second phase of development at the Al-Wusayl Shooting Range. Signing for the QR 90 million contract was ALCAT’s General Manager, George Daniel.
After just two days of the Qatar Sports International exhibition, contracts worth in excess of $230 million have already been signed with another two days business to go. "The QSi expo has already generated nearly five times the value of business transacted at the previous show in 2002", said QSi's Director of International Relations, Perry Smith.
Monday's major award was the massive $70 million deal signed between QNOC and Tracy Edwards for the sponsorship of two formula one yachting races, the Oryx Cup and the Quest. Sports deals have also been struck with the marketing rights for this year's GCC Cup going to QSi, expected to be worth several million dollars. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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