Qatar-based Qetaifan Projects has signed a memorandum of understanding (MoU) with Monaqasat to provide construction and design consultancy to investors and owners with quality services at Qetaifan Island North.
According to the agreement, Monaqasat will become the ‘latest local partner of success’ of Qetaifan Projects, a real estate developer of Qetaifan Island North, owned by Katara Hospitality.
Sheikh Nasser bin Abdulrahman al-Thani, chairman and managing director of Qetaifan Projects, said that, “Creating constructive and meaningful partnerships is a strategic choice for us at Qetaifan Projects and today, we announce the joining of our new local partner. This agreement is aligned with the strategy and vision of Qetaifan Projects that foster collaboration with the private sector, being mindful of the local sector, and the delivery of exceptional services in the real estate development sector, which in turn benefits the investors and owners.”
“This strategic partnership aims to capitalize on the collective potential, integrated expertise, and provision of best options, highlighting concerted efforts, and establishing the principles for developing the real estate development sector,” Sheikh Nasser added.
Monaqasat representative and board member, Mr. Abdelaziz al-Tamimi noted that, “This agreement grants Qetaifan Projects investors and property owners the opportunity to benefit from all the free and exceptional services provided by Monaqasat. These services aim to ensure saving resources and helping clients optimize their development projects for both investment and residential purposes.”
Mr. Hesham Sharaf, Chief Operating Officer at Qetaifan, stated that “this step comes within the framework of establishing a fully integrated island with a focus on investors and owners. We believe that it will also benefit the residents of the island, too. The agreement is considered another milestone achieved by Qetaifan Projects in the field of development.”
Currently in the Qetaifan Island North project, the percentage of reliance on the local private sector in the development is more than 90 percent, the statement said.
