United Development Company awards UrbaCon Trading & Contracting Company & Promar Marine Contracting Company the contract of executing the marine works at Gewan Island

July 16, 2019 / Financial News

Al-Othman: “Total investment value in Gewan Island amounts to approximately QR 3 billion”.


Al-Othman: “Gewan Island’s construction and development works are proceeding according to the plans to complete our latest flagship project by the expected 2022 deadline”.



United Development Company (UDC), a leading Qatari shareholding company and the master developer of The Pearl-Qatar and Gewan Islands, has tasked UrbaCon Trading & Contracting Company & Promar Marine Contracting Company with the execution of marine works at Gewan Island.


Mr. Ibrahim Jassim Al-Othman, UDC President and Chief Executive Officer and Member of The Board, Mr. Ramez Al-Khayyat, Vice Chairman and Group Chief Executive Officer of UrbaCon Trading & Contracting Company and Mrs. Juliana Chamoun, Chairman and Managing Partner of Promar Marine Contracting Company co-signed the agreement during a ceremony held at the Oyster Building at The Pearl-Qatar, in the presence of representatives from all parties.


Commenting on this occasion, Mr. Ibrahim Jassim Al-Othman, UDC President and Chief Executive Officer and Member of The Board, highlighted that the total investment value in Gewan Island amounts to approximately QR 3 billion.


Mr. Al-Othman added: “The agreement with UrbaCon Trading & Contracting Company & Promar Marine Contracting Company demonstrates that Gewan Island’s construction and development works are proceeding according to the plans to complete our latest flagship project by the expected 2022 deadline. We have initiated the preparation works for the construction of the Island, where the completion of building the boardwalk wall will be in February, 2020”.



Mr. Ramez Al-Khayyat, Vice Chairman and Group Chief Executive Officer of UrbaCon Trading & Contracting Company commented on this agreement: “Working with UDC towards Gewan Island project is an imperative and exciting point of our business. We look forward for a fruitful partnership with UDC, where we will strive for the highest quality and success to accomplish this project”.


Mrs. Juliana Chamoun, Chairman and Managing Partner of Promar Marine Contracting Company said: “Being awarded by UDC, one of the most real estate reputable firms, means a great deal to our business. We are proud to be part of this development initiative that seeks out a fulfilling, positive and developed future”.


Urbacon Trading & Contracting Company is a Qatari-based international construction services company and grade one licensed builder, and Promar Marine Contracting Company is a leading marine works construction firm, founded in Lebanon since 1985 and expanded towards gulf market since 2007. The two companies will undertake the design, manufacture, supply, delivery, construction, installation, erection, commissioning and testing of Gewan Island’s marine works package.



The marine works involve dredging, reclamation fill, and the provision and installation of core, armour, geotextile materials and concrete elements as well as the supply and installation of selected fill and beach sand material.


Gewan Island, UDC’s latest real estate project next to The Pearl-Qatar Island, will span 400,000 sqm.


Once completed, the Island will accommodate 3,500 residents and 3,000 daily visitors and will be home to 712 units, including 639 apartments, 41 waterfront villas (out of which 20 villas are standalone villas), 26 beachfront villas, 6 island villas, in addition to 11,000 sqm of retail space and a number of multiuse buildings.


The Island, which derives its name from the full-round, pink-tinted and perfectly shaped pearl from Qatar’s marine heritage, will support a mix of property types, catering for different accommodation and investment needs.


The Island will offer its residents a comprehensive living space merging entertainment and retail outlets with smart technologies. It is expected to attract a warm, welcoming and youthful community seeking an urbane and vibrant lifestyle.


The Island will include a golf course, an air-conditioned outdoor Crystal Walkway which acts like the Island’s spine, green parks and which will attract new brands to Doha. The Island will also be home to entertainment facilities, a sports club and a mosque.



The Island’s design incorporates a number of sustainability features to reduce the use of vehicles and encourage walking and biking through dedicated pedestrian and cycling networks in addition to roads connecting the Island to the public transportation network.


The Island is also designed to reduce urban heat by incorporating green roofs, shading, and reflective surfaces, where applicable.


UDC, the master developer of The Pearl-Qatar and Gewan Islands, is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to Qatar’s growth and providing good shareholder value.


UDC activities cover a multitude of vital investment sectors including real estate development, property management, infrastructure and utilities, maritime and hospitality related businesses.

UNITED DEVELOPMENT COMPANY

info@udcqatar.com

Contact us for all your inquiries.