QATAR’S leading sustainable real estate developer Msheireb Properties has awarded a consortium comprising Japan’s Obayashi Corporation and Qatar’s HBK Contracting, a construction contract worth QR2.5 billion ($686 million), Qatar News Agency (QNA) reported.

The contract was awarded for the penultimate stage, Phase Three, of its flagship project, Msheireb Downtown Doha.

The QR20-billion ($5.49 billion) development, a signature project of Msheireb Properties, broke ground in Doha in early 2010 and will be delivered in five phases.

The awarding of the construction contract for Phase Three marks a key milestone in the development of the 31-hectare Msheireb Downtown Doha, which is expected to start later on this month.

“Awarding the construction contract for Phase Three symbolises our commitment to the implementation of this project and is testament to the swift progress we are making in its construction,” said Abdulla Hassan Al Mehshadi, chief executive officer at Msheireb Properties.

Phase Three involves the construction of a built-up area of approximately 310,000 sq m comprising 14 buildings that are up to 22 storeys in height as well as four basement levels offering 2,200 parking spaces.

It will comprise two office buildings, 350 residential units spread across 11 buildings, four communal swimming pools in addition to a mosque, and retail, hotel, hospitality and community facilities.

Described as the world’s first sustainable regeneration of a downtown area in a modern city, the project combines traditional local building practices and design influences with the latest technologies in energy efficiency and environmental management.