This is until a senior Qatari Diar employee is ready to take over. “During the first three years, Vinci is responsible for management and the chief executive officer is seconded by Vinci.” “Our joint venture with Qatari Diar is a Qatari shareholding company that is 51 per cent Qatari Diar and 49 per cent Vinci Construction,” says Gerald Mille, CEO of Qatari Diar Vinci Construction (QDVC). In mid-2006, the two parties set up a joint venture contracting company to develop Qatari Diar schemes. Qatari Diar’s involvement is an extension of its relationship with France’s largest contracting company, Vinci. The firm is part of the construction consortium that includes France’s Vinci Construction Grands Projets, Germany’s Hochtief, Athens-based Consolidated Contractors Company, Belgium’s Dredging International and the local Qatar Dredging Company. The heavy rail components include high-speed rail links from Doha to the new airport that will also run over the new causeway into Bahrain, an east coast rail link for passengers and freight between Ras Laffan and Mesaieed via Doha, and a freight link connecting into the planned GCC rail network.Īs part of the rail project, two metro schemes are also being developed: a Doha metro network and a light rail system serving new developments to the north of Doha, such as Lusail, Education City and West Bay.īut perhaps the most high-profile of Qatari Diar’s infrastructure schemes is its involvement on the $4.2bn Qatar-Bahrain causeway. In a departure from real estate, Qatari Diar has also embarked on the state’s first rail project, and is working with Germany’s Deutsche Bahn on the initial design. The centrepiece of the project will be Dubai Towers, the city’s tallest building, at more than 400 metres high. Since the launch of Lusail, Qatari Diar has become increasingly ambitious, launching several projects in Qatar, including the $600m Doha Convention Centre, for which the main contract bids closed in early September. A consortium lead by the UAE’s Al-Jaber won the final award. The second infrastructure bid deadline was extended from mid-January to 21 February after contractors asked for more time. Up to 15 infrastructure contracts are expected to be awarded in total, but progress has been delayed. This was followed by the 30-month, $440m package for earthworks and marine development awarded to China’s Sinohydro in September 2006. The first infrastructure award on the scheme, for the sewage transfer and treatment system, was awarded to France’s Degremont, Japan’s Marubeni Corporation and Kuwait’s Mushrif Trading & Contracting Company in February 2006. Steady sell-offĬompletion of the scheme is not expected until 2020, and the company is steadily selling off plots to secondary developers such as Dubai-based Damac Properties and Abu Dhabi Investment House. Real estate agents are experiencing high demand for these, and the first units are expected to come to the market in January 2009. Offshore island The Pearl is the first area in which non-GCC investors are allowed to buy property on a freehold basis. The massive urban sprawl is intended to provide housing for up to 200,000 people, in addition to office and commercial space. Masterplanned by US firm Bechtel, this project remains Qatari Diar’s largest scheme. It began with the 35 sq km Lusail real estate project, north of Doha. Under the guidance of CEO Ghanim bin Saad al-Saad, it has launched 18 real estate schemes throughout the Middle East and North Africa (Mena) region. Launched in March 2005, Qatari Diar is now capitalised at $1bn.
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