Latest news with #urbanprojects
Zawya
3 days ago
- Business
- Zawya
Qatar Investment Authority acquires 49% stake in Msheireb Properties
Doha, Qatar: Msheireb Properties, Qatar's leading sustainable real estate developer, has signed a strategic partnership with Qatar Investment Authority (QIA) to accelerate the expansion of smart, sustainable urban projects within Qatar. Under the agreement, QIA has acquired a 49% stake in Msheireb Properties, underlining its confidence in Msheireb Properties' pioneering approach and integrated model for developing sustainable and human-centric smart cities. Qatar Foundation for Education, Science and Community Development retains its majority share of 51%. The partnership aims to fast-track innovative, human-centric real estate initiatives aligned with Qatar National Vision 2030 and the country's drive for economic diversification and environmental sustainability. It also aligns with QIA's mandate to support the development of a competitive Qatari economy and support the advancement of Qatar's Third National Development Strategy (NDS3). The collaboration opens new avenues for Msheireb Properties to expand its award-winning model, following the success of Msheireb Downtown Doha, the first fully redeveloped and sustainable city district in the world. The partnership reinforces Qatar's ambition to lead as a global hub for sustainable development, especially in light of international efforts to reduce emissions and achieve carbon neutrality. Msheireb Downtown Doha has received global recognition for its integration of smart technologies, resilient infrastructure, and Qatari-inspired architecture. As cities worldwide race to reduce emissions, this Qatari-backed partnership signals a bold move to lead the booming smart cities sector, with sustainability at its core. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Khaleej Times
5 days ago
- Business
- Khaleej Times
Kuwait Real Estate and IFA sign Dh198 million agreement with Darwish Engineering
Kuwait Real Estate Company, in collaboration with its subsidiary IFA Hotels and Resorts, has announced the signing of a contract with Darwish Engineering, one of the leading construction companies in the UAE, to develop the infrastructure works for its residential project 'Al Tay Hills' in Sharjah, with a total value of Dh198 million. The contract was signed through Qaryat Al Nakheel Real Estate, the executive arm of the project and a subsidiary of Kuwait Real Estate. The scope of work includes the design and implementation of core infrastructure, such as the construction of sewage networks, a wastewater treatment plant, two water pumping stations, in addition to road networks, stormwater drainage, and networks for electricity, telecommunications, and water. On this occasion, Khaled Esbaitah, Chairman of IFA Hotels and Resorts, stated: 'Our agreement with Darwish Engineering, a company with a strong track record in the construction sector, marks a significant milestone in our vision to develop integrated urban projects that elevate standards of quality and innovation in the real estate market.' He added: 'We are confident that this collaboration will bring a qualitative leap in the development of Al Tay Hills' infrastructure, enhancing its investment appeal and establishing it as a modern urban destination. We see this partnership as a pivotal step towards achieving our vision of building smart and sustainable residential communities.' Bahaa Al-Nahwi, General Manager of Darwish Engineering, emphasized that the contract to implement the infrastructure works for the 'Al Tay Hills' project represents a new strategic milestone that reflects their firm commitment to delivering integrated engineering solutions that elevate the standard of urban development projects in Sharjah. He noted that the company will mobilize all its expertise and technical resources to deliver this vital project according to the approved timeline and in alignment with the highest technical and engineering standards. Al Tay Hills is considered one of the largest residential projects in Sharjah, spanning over 6 million square feet and comprising 1,100 residential units, including villas and townhouses. It boasts a strategic location on Emirates Road and features the longest green river in the region, stretching 2.5 km. The first phase is expected to be delivered in Q1 2028. Since its launch, Al Tay Hills has recorded remarkable success, demonstrated by high investor and buyer interest, reflecting its prestigious position as one of the most prominent residential destinations in Sharjah. The increasing demand for luxury units that combine modern design with a prime location underscores the project's value. These results affirm the project's capability to meet the needs of customers seeking to invest in a comprehensive residential community offering a promising future vision.
Zawya
5 days ago
- Business
- Zawya
Kuwait Real Estate and IFA sign AED 198mln agreement with Darwish Engineering
Dubai – Kuwait Real Estate Company, in collaboration with its subsidiary IFA Hotels and Resorts, has announced the signing of a contract with Darwish Engineering, one of the leading construction companies in the UAE, to develop the infrastructure works for its residential project "Al Tay Hills" in the Emirate of Sharjah, with a total value of AED 198 million. The contract was signed through Qaryat Al Nakheel Real Estate, the executive arm of the project and a subsidiary of Kuwait Real Estate. The scope of work includes the design and implementation of core infrastructure, such as the construction of sewage networks, a wastewater treatment plant, two water pumping stations, in addition to road networks, stormwater drainage, and networks for electricity, telecommunications, and water. On this occasion, Khaled Esbaitah, Chairman of IFA Hotels and Resorts, stated: "Our agreement with Darwish Engineering, a company with a strong track record in the construction sector, marks a significant milestone in our vision to develop integrated urban projects that elevate standards of quality and innovation in the real estate market." He added: "We are confident that this collaboration will bring a qualitative leap in the development of Al Tay Hills' infrastructure, enhancing its investment appeal and establishing it as a modern urban destination. We see this partnership as a pivotal step towards achieving our vision of building smart and sustainable residential communities." From his side, Bahaa Al-Nahwi, General Manager of Darwish Engineering, emphasized that the contract to implement the infrastructure works for the "Al Tay Hills" project represents a new strategic milestone that reflects their firm commitment to delivering integrated engineering solutions that elevate the standard of urban development projects in Sharjah. He noted that the company will mobilize all its expertise and technical resources to deliver this vital project according to the approved timeline and in alignment with the highest technical and engineering standards. Al Tay Hills is considered one of the largest residential projects in Sharjah, spanning over 6 million square feet and comprising 1,100 residential units, including villas and townhouses. It boasts a strategic location on Emirates Road and features the longest green river in the region, stretching 2.5 km. The first phase is expected to be delivered in Q1 2028. Since its launch, Al Tay Hills has recorded remarkable success, demonstrated by high investor and buyer interest, reflecting its prestigious position as one of the most prominent residential destinations in Sharjah. The increasing demand for luxury units that combine modern design with a prime location underscores the project's value. These results affirm the project's capability to meet the needs of customers seeking to invest in a comprehensive residential community offering a promising future vision.
