Energy City - North Doha - Lusail

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amnesia

The Energy City is part of Lusial >:D

Energy City signs QR65m contract

Doha • The $ 2.6bn Energy City Qatar (ECQ) project is well on track to become an ultra-modern business hub for oil and gas industry with the awarding of several contracts coming close on the heels of recent phenomenal pre-sales and sales value worth

QR3.5bn in just one and a half month and a QR700m agreement with Qatar Real Estate Investment Company.

The latest in a series of key milestones for the project is the signing last week of a contract worth QR65m with National Petroleum Services for ECQ's Lusail development. Under the terms of the contract, National Petroleum Services have purchased a plot within the ECQ to build their new regional headquarters.

"The deal demonstrates the potential of ECQ to bring together visionary Qatari and international oil and gas companies who understand the importance of working together within the region's own purpose built energy cluster," said Hesham Al Emadi, ECQ Chief Executive Officer.

National Petroleum Services President and CEO, Abdul Aziz Al Dolaimi, stressing the importance of the contract said his company's move to ECQ underscores its strong commitment to the future of the energy industry in Qatar.

Al Emadi told a news conference yesterday that the group has sold 100 per cent of the plots that make up the residential park of Lusail and almost 80 per cent of the commercial component of the project.
The 30 different investors in the plots of land thus far are local and regional property developers with approximately 70 per cent from Qatar, 10 per cent from Kuwait and 10 per cent from Saudi Arabia and the rest from Bahrain.

Al Emadi added that ECQ is also working with the government to create a business model which will be similar to the Qatar Financial Centre or free zone concept as part of business incentives to be offered to companies, but this is yet to be finalised.

Check out the Energy City's location in the Lusail masterplan, do you notice it has a residential area for energy city ? (:D

[URL=http://imageshack.us][IMG]http://img260.imageshack.us/img260/285/masterplan1d21d6djt1.jpg[/IMG][/URL]

Some pictures of the Energy City Masterplan (:P)