Local companies increase presence in Qatar

DAILY SABAH
ISTANBUL
Published

As Turkish-Qatari ties continue on good terms, Turkish firms have increased their operations in the country, accomplishing significant infrastructure projects. The increased bilateral investments and trade volume are proving how parties can benefit from strong political ties.

The sum of the projects that Turkish contractors have undertaken to date in Qatar has reached around $8.5 billion. Tekfen is the largest contracting firm in thecountry, taking on their first project in Qatar in 2005. The company has completed seven projects worth $2.4 billion with the projects it has completed so far.

The sum of projects undertaken by Tekfen Holding in Qatar, which is one of the companies participating in Expo Turkey by Qatar, has reached $5 billion. Informing journalists about the group's activities in Qatar, Chairman Murat Gigin said: "We're about to complete a highway project. We have been doing business in Qatar for 12 years and have completed seven projects with a total worth of $2.4 billion in those 12 years. Together with the projects we have just taken on, the sum of our projects here has reached $5 billion."The group's projects in Qatar are as follows: the Ras Laffan-Mesaieed Ethane Pipeline, the Umm Bab-Mesaieed Crude Oil Pipeline, the QAPCO Low Density Polyethylene Plant, Qatar North Road, Phase 2&3, Ceremonial National Day Road, Qatar North Road, Additional Works, Qatar North Road Side Roads, Crossroads, the Al Khor Expressway Highway Project and the Fifth Precinct Stadium.

Tekfen Holding Chairman Murat Gigin said they took on a stadium project in Qatar earlier this year. Gigin explained that they have undertaken one of the stadiums planned for the 2022 World Cup in Qatar with a local partner, Al Jaber Engineering, adding that the project, estimated to cost $343 million, will be completed in 2020.

Kuzu to complete $2.7 billion project in 2018 Kuzu Group, one of the real estate companies participating in the fair, is one of the companies that undertakes large projects in Qatar. Board Member Özen Kuzu presented the Seapearl project in Ataköy from their stand at Expo Turkey by Qatar. "Sixty percent of the $2.7 billion Seapearl project belongs to the Qatari partners. The first phase of the project will begin in July 2017. Jumeirah will operate our hotel in the project, which will be completed in 2018," Kuzu said.

Recalling Finance Minister Naci Ağbal's message to the real estate sector in regard to the government's meeting the demands of the sector and asking for the effects of the initiatives in return, Kuzu said, "The minister is quite right. Now it's our turn. The waiting period due to the referendum is now over. It's time to boost sales."

Moreover, TAV İnşaat, Turkey's leading airport construction firm, was in charge of building the main terminal of the Hamad International Airport in Doha. A total of $4 billion was invested in the airport, which started service in April 2014. TAV led the joint venture with the Japanese Taisei Corporation. Having an annual passenger capacity of 30 million, the complex was built over an area of 505,000 square meters (5,435,775 square feet) and 23,000 people were employed during the construction.

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