The launch of the $1 billion second phase of Energy City Qatar, the regional energy business hub, was recently announced at an investment of $1 billion.
The $2.6 billion development, envisioned as an integrated technologically enriched residential community, according to Khaleej Times. The project will complement Energy City Qatar's business development project as the region's first hydrocarbon industry business hub.
"Through the launch of Phase II of Energy City Qatar, we are addressing the broader aspects of the Energy City Qatar concept and complementing it with another core element focusing on the social aspects of the project," said Esam Janahi, Chairman of Energy City Qatar.
Senior officials of Energy City Qatar said the residential component will be located within the Lusail development, adjacent to the previously announced Phase I of the project spread over approximately 500,000 square meters.