First Qatar Real Estate Development Company, a leading real estate company in the Middle East, signed significant agreements with a renowned project management company, Projacs International, a prominent construction company, Qatari Arabian Construction Company (QACC) and EHAF Consulting Engineers, one of the largest multidisciplinary design practice in the Middle East, at Cityscape Dubai 2006, the 5th international property investment and development event.
“We will continue to consolidate our base on solid foundations and reinforce our commitment toward providing the highest quality products. Projacs International - Project and Construction Management, QACC - Construction Contractors and EHAF Consulting Engineers fulfilled the requirements for Grade-A’ consultants, and contractors.” said Fahad K. Al-Ghunaim, Chairman and CEO of First Qatar.
Projacs has been awarded a contract for 55 months for all three phases of First Qatar’s projects at The Pearl. The firm is the largest Pan-Arab project manager with 14 offices across the Middle East, North Africa, Asia and Europe and with over 500 professional staff offering customized services to a variety of clients in the public and private sectors.
“Sharing First Qatar’s philosophy for excellence in such remarkable projects, Projacs International will endeavor to deliver the tasks consistently on time and within budget”, commented Mr. Luay Khoury, President and CEO of Projacs International. “Sustainability of the projects is a primary goal for us and will build the foundation for a long term successful partnership with First Qatar.” Khoury added.
The contract for construction has been awarded to Qatari Arabian Construction Company (QACC), a subsidiary of Lebanon’s Arabian Construction Co (ACC), to build the company’s 1st Towers (phase 1- project) at the Pearl Qatar. First Qatar has chosen QACC keeping in mind its reputation and experience in the industry.
Omar Mikati, Managing Director for QACC said: “We are very privileged to have been chosen by First Qatar for the construction of 1st Towers. QACC will entrust its latest cutting-edge construction techniques and services to demonstrate its capabilities as a total solutions provider for the construction industry.”
EHAF Consulting Engineers was awarded the prestigious contract for Redesign and project supervision of the 1st Towers (for all Phases) at the Pearl Qatar. Since it’s founding in 1971, EHAF has grown to become one of the most comprehensive design and management practices in the region. EHAF reached this position by diversifying its service disciplines and by frontiering into unprecedented types of projects such as Cairo Metor, Mubarak media city, Material City, Central Park for Shams Island in Abu Dhabi, Doha City Center Towers, Heavy industries and long spans bridges. These achievements are achieved through a network of 400 professionals present in Doha, Dubai, Abu Dhabi, Al Ain, Cairo, and Khartoom.
“For EHAF a Project is not simply a Project. It is a manifestation of a new idea of practice and focus that mirror innovation and culture. Imagination, Flexibility, quality and Attention to Future are Keys to EHAF Success" said Dr. Mohamed Fahmy – General Director. "EHAF is determined to shift the current paradigm by becoming a learning organization skilled with creation, intelligence, critical thinking, problem solving, outstanding implementation and much more."
First Qatar’s activities include purchase, sale and rent of buildings and land plots for development, acquisition, purchase and sale of stocks and bonds of real estate companies, provision of real estate advisory and feasibility studies, acquisition, lease, and management of hotels, health clubs and tourist resorts, management, operation, investment and leasing of motels, clubs, parks, gardens, exhibitions, restaurants, residential blocks, tourist and leisure properties, spas and health resorts.
Pierre Moreland, Vice-President Marketing, First Qatar said: “At the Cityscape Dubai 2006, First Qatar has established itself as a quality developer in the region. We received inquires from a number of keen ROI–conscious investors for our projects that confirm our perseverance and dedication to deliver affordable superior class accommodation and services.”
The company also caters to almost every segment of business. Among them are the organizing real estate auctions, exhibitions and marketing of company projects, establishment and management of real estate funds, investment of excess liquidity in real estate and money market portfolios managed by specialized companies, with the right to cooperate with any entity specialized in similar tasks, as well as to acquire or merge with such entities.
