Qatar logistics hub to attract $8bn investment
DOHA, 21 days ago
Development schemes in Qatar's ambitious Logistics Areas project in the southern region are expected to attract QR30 billion ($8.24 billion) in direct investments, a report said.
The area will become a regional hub for investments and logistics services, increasing the competitiveness in the trade sector, and encouraging the private sector to participate effectively in the Qatar National Vision 2030, said the QNA report.
The Logistics Areas Project is one of the Qatar government's largest projects and includes 1,583 plots of land on an area of 6,330,907 sq m.
The project is strategic as it is located close to the Hamad Port, the Mesaieed Industrial Port and the Orbital Highway.
The project will provide many logistics services, including: assembly, processing, open storage spaces, various storage facilities (refrigerated warehouses, frozen stores, dry stores), exhibitions, shops and commercial offices, labour camps, car maintenance and storage, and service centres.
The project provides a typical business environment and includes integrated infrastructure of global standards including roads, rainwater drainage system, landscaping, integrated housing for workers, services centres such as mosques, civil defence, parking, offices, supermarkets, pharmacies and other vital services.
The project is set for completion in mid-2018 to ensure optimisation of these investments before the 2022 World Cup.
Meanwhile, the Ministry of Economy and Commerce Technical Committee has announced the completion ahead of schedule of preparing the lands allocated for the project, to allow them to be handed over to investors in collaboration with the Special Economic Zones company (Manateq).
The committee has also completed the signing of booking and rental contracts with investors, and has provided ready-made designs for the construction of warehouses and stores to facilitate the work of the small investors.
The keen interest shown by Qatari investors and companies to set up projects in the logistics areas reflects the extent of awareness and understanding of the economic importance of such projects, the report said.
In a statement after announcing the winners in the public draw for owning lands in the logistics areas, Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al Thani praised the potential of the winning investors, and their ability to compete, which emerged through their varied and innovative investment plans.