Mubasher TV
Contact Us Advertising   العربية

United Development inks QAR 334m deals for Gewan Island

United Development inks QAR 334m deals for Gewan Island
The contracts were signed on the sideline of Cityscape Qatar Conference and Exhibition 2018
United Development
UDCD
-0.26% 1.13 -0.00

Mubasher: Qatar-based United Development Company (UDC) has signed three contracts to develop Gewan Island.

The total cost of the contracts amounted to QAR 334 million, according to the company’s statement.

The contracts were signed on the sideline of Cityscape Qatar Conference and Exhibition 2018 which takes place at the Doha Exhibition and Convention Centre from 22-25 April.

Gewan Island, UDC’s current biggest real estate project, spans an area of 400,000 square meters.

 "We are very confident that Gewan Island and its real estate offerings will attract both local and international investors,” UDC’s president and CEO Ibrahim Al-Othman said.

UDC chose SNC-Lavalin’s Faithful+Gould, an integrated project and programme management consultancy, to provide project management services for the Island, the Qatari real estate developer noted. 

The second contract was signed with Dar Al Handasah in order to handle the design consultancy services pertaining to master planning, infrastructure, architecture and engineering consultancy services of the project, UDC said.

In the same vein, UDC inked the third deal with Middle East Dredging Company (MEDCO) to tackle the execution of the marine works including marine dredging and reclamation, the construction of sand beaches, shore protection rock revetments, breakwaters, and quay walls of the island.

By the end of Tuesday’s session, UDC’s stock declined 0.28% at QAR 14.19.