Al Futtaim JV $137m Doha Festival City deal

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Al Futtaim JV $137m Doha Festival City deal

A joint venture including Al-Futtaim Engineering’s Qatar operations has won a QR500 million ($137.2 million) contract related to the Doha Festival City project.

Hamad and Mohamad Al-Futtaim and Voltas Qatar has been awarded the mechanical, electrical and plumbing (MEP) contract for the shopping mall which is expected to be completed by 2016.

Doha Festival City is the largest mixed-use development currently under construction in the Middle East, and on completion will be Qatar’s largest retail and leisure destination.

It will feature the Doha Festival City Mall, as well as a hotel and convention centre.
Doha Festival City Mall, with a gross leasable area of around 250,000 sq m, will comprise 550 outlets, including 85 restaurants and cafes, VOX Cinemas and a snow park. It will feature around 8,000 parking spaces.

Dawood Ozair, senior managing director of Al-Futtaim Engineering and Technologies, said: “We are extremely pleased to have won this major MEP project from Doha Festival City. This is another big milestone for our business and another opportunity to deliver our high quality services to customers in Qatar.”

Hamad & Mohamad Al-Futtaim’s other high-profile MEP projects in Qatar include the Burj Al Marina within the Lusail City development, IKEA which is located at Doha Festival City and the Heritage Quarter.

Source: Arabian Business

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.