Qetaifan Projects, the real estate developer of Qetaifan Island North, owned by Katara Hospitality, has signed a memorandum of understanding (MoU) with Monaqasat.
Sheikh Nasser bin Abdulrahman al-Thani, chairman and managing director, Qetaifan Projects; and Monaqasat representative and board member Abdelaziz al-Tamimi, signed the agreement announcing the joining of Monaqasat as the “latest local partner of success.”
The signing ceremony was held at the Qetaifan Projects headquarters at the Azure Beach Club in Qetaifan Island North and was attended by Qetaifan Projects board member Nasser al-Malawi, Chief Operating officer Hesham Sharaf, Chief Legal officer Jean Antonios, and Senior Business Development officer Khalid al-Jassim.
Under the agreement, Qetaifan Projects and Monaqasat will collaborate to provide construction and design consultancy to investors and owners with quality services at Qetaifan Island North.
Sheikh Nasser said, “Creating constructive and meaningful partnerships is a strategic choice for us at Qetaifan Projects and today, we announce the joining of our new local partner. This agreement is aligned with the strategy and vision of Qetaifan Projects that foster collaboration with the private sector, being mindful of the local sector, and the delivery of exceptional services in the real estate development sector, which in turn benefits the investors and owners.
“This strategic partnership aims to capitalise on the collective potential, integrated expertise, and provision of best options, highlighting concerted efforts, and establishing the principles for developing the real estate development sector.”
Al-Tamimi said: “This agreement grants Qetaifan Projects investors and property owners the opportunity to benefit from all the free and exceptional services provided by Monaqasat. These services aim to ensure saving resources and helping clients optimise their development projects for both investment and residential purposes.”
Sharaf said, “This step comes within the framework of establishing a fully integrated island with a focus on investors and owners. We believe that it will also benefit the residents of the island, too." He added the agreement is considered another milestone achieved by Qetaifan Projects in the field of development.
Currently in the Qetaifan Island North project, the percentage of reliance on the local private sector in the development is more than 90%.
Sheikh Nasser bin Abdulrahman al-Thani, chairman and managing director, Qetaifan Projects; and Monaqasat representative and board member Abdelaziz al-Tamimi, are joined by Qetaifan Projects board member Nasser al-Malawi, Chief Operating officer Hesham Sharaf, Chief Legal officer Jean Antonios, and Senior Business Development officer Khalid al-Jassim.
