Regional News

$1.7bn contracts awarded for Lusail City project

April 2015

Qatar-based Lusail City Real Estate Development Company (LCRDC) has awarded QR6.2-billion ($1.7 billion) contracts for development works at Lusail City, one of the country’s high-profile real estate developments, said a report.

The various construction packages include Lusail Plaza, development of Commercial Street and a unique crescent-shaped street, reported The Peninsula.

The development projects will be located within the Central Zone of the 38-sq-km Lusail City. The Central Zone, also known as the heart of Lusail City, includes the commercial waterfront district that forms the silhouette of the mammoth development’s marina design, the Lusail Towers District and Plaza.

One of the biggest projects of Lusail City, the QR4.12-billion ($1.13 billion) Plaza project will be linked with internal roads connected to trams and underground rails, stated the report citing the contractors, a joint venture between Qatari Diar, a property arm of the country’s sovereign wealth fund, and Saudi-based Binladin Construction.

The project work includes a multi-storey parking facility with a capacity of 3,200 cars. The 39,309-sq-m project is expected to be completed in 2018, said the report, citing the contractors.

LCRDC also awarded a QR1.21-billion ($332 million) contract for the Commercial Street project at Lusail to a joint venture of WCT of Malaysia and Al Ahli Projects Company. WCT said the scope of works includes construction of the commercial boulevard, main and internal roads, utilities, five small-sized light rail transit stations and four two-level underground car parks. The works are expected to be completed in the second quarter of 2017.

The third package for the crescent-shaped street was awarded for an estimated QR918 million ($252 million).

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