Mazaya Qatar Real Estate Development Company has appointed QInvest, Qatar’s leading investment bank, as a financial advisor to arrange financing for the Sidra Village Residential Project. The signing ceremony was attended by Mr. Seraj Al Baker, CEO of Mazaya Qatar and Mr. Shahzad Shahbaz, CEO of QInvest, who signed the agreement on behalf of their respective organizations on Monday 9th of January at QInvest offices in the iconic Tornado Tower.
Speaking on this occasion, Mr. Seraj Al Baker said: “The Sidra Village Residential project is one of our important projects and the agreement today is a key step in the development of the project. This financing will ensure that work in Sidra Village Residential Project will progress as planned together with the other existing and forthcoming projects”.
He added, “We signed this deal with QInvest following a thorough study and evaluation of a number of financing options submitted by various financial institutions. We found QInvest the ideal partner to arrange financing for this project. QInvest is a leading investment bank and well recognized for its high efficiency and professionalism.
Mr. Shazad Shahbaz said: “We are delighted to sign this agreement with Mazaya Qatar, who are one of the leading developers in the Qatari real estate market. We look forward to working with Mazaya Qatar assisting them in the financing of this important project with a view of developing a long term partnership.
Mazaya Qatar is developing the Sidra Village Project for the nursing and technical staff of Sidra Medical and Research Centre, on a BOT basis for a period of 20 years. The residential neighborhood will consist of two-storey buildings, green spaces, community center. Each building will host one-bedroom and two-bedroom units. There will be 658 one-bedroom and 507 two-bedroom units measuring 50sq m and 85sq m respectively. The project is scheduled for completion during the third quarter of 2013. Upon completion, the project will offer 1165 residential units.