Qatar's Manateq awards $459m contract

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Qatar’s Manateq awards $459m contract

Manateq has awarded a $459 million contract for the development of Qatar’s first economic zone, this will focus on logistics and advanced technologies.

A consortium formed by Spain’s Sacyr and Qatari firm Urbacon Trading & Contracting (UCC) has been hired to design and construct QEZ-1 in Ras Bufontas, it was reported in Spanish media earlier.

The work awarded covers an area of approximately 4.1 square kilometres. Sacyr is already involved in projects in the UAE, Jordan and Oman.

Manateq develops and operates specialised economic zones in Qatar, with the aim of providing infrastructure to help the development of private sector business, according to its website.

Late last year, Qatar launched the first of three new special economic zones established to help the state diversify its economy.

The Ras Bufontas project, near the new Hamad International Airport, will specialise in companies in the communications, infotech, energy, logistics, construction, transportation and other sectors, it was reported at the time of the launch.

Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani, who laid the foundation stone, said the special economic zones would be the base of the country’s private sector, focusing on small and medium enterprises.

Qatar has stated it wants to diversify from a hydro-carbon-led economy – which helped to make it one of the richest in the world but is subject to volatile global oil prices – to a knowledge-based economy.

The other two zones are Abu Nakhla and Um Alhoul.

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.