Work on Qatar’s ambitious billion-dollar Al Waab City commenced recently with excavation and construction work on site getting under way.
The project will come up on an area of more than 1.2 million sq m in Doha’s Al-Waab district that integrates a variety of housing types, small and large-scale retail, offices, health facilities, and a world-class luxury hotel.
The QR4.3 billion ($1.18 billion) project, promoted by Nasser bin Khaled Group (NBK), will involve the construction of over 2,100 residential villas and apartments varying in sizes and designs, and offer 85,000 sq m of retail space, 208,000 sq m of commercial and office space, a 200-room luxurious hotel, as well as numerous amenities including shops, cafes, cinemas and a supermarket.
With a commitment to providing and encouraging environmentally friendly solutions, Al Waab City will also include over 30 hectares of lush landscaping and pedestrian walkways with a focus on energy saving and recycling, say the project’s developers.
At the heart of the project will be the Barahat Al Waab an urban piazza hosting an array of spectacular facilities. This will be Doha’s first urban square, filled with shade structures, water features, formal landscaping and a striking sunken garden. Barahat Al Waab will be accessible to residents by foot. Animated with outdoor cafes, restaurants, and street vendors, Barahat Al Waab will be the centre of activity in Al Waab City, a place for public events, concerts and exhibitions.
Sheikh Nawaf bin Nasser Al Thani, chairman of NBK and Al Waab City, says: “This is one of the most important projects that Doha will see in the next 10 years as it is the realisation of the Emir’s vision for a better living environment in Qatar and will quickly become the benchmark for all future developments.”
The project has also recently announced the completion of its initial financing facility of $225 million, structured as an Islamic finance Murabaha facility. This facility is in the process of completing the first phase of its overall financing.
