Doha: Nasser bin Khaled and Sons Group (NBKS) yesterday announced the launch of an estimated QR3.5bn Al Waab City development project covering over 1.2 million square metres area.
The project is being developed by Al Waab Development Company, a limited shareholding company comprising local and foreign investors and was designed by Hellmuth, Obata and Kassabaum Inc. (HOC). Amwal was selected as the project financial advisor.
Speaking at a news conference yesterday at the Four Seasons Hotel, Sheikha Hanadi Bint Nasser Al Thani, Deputy CEO of NBKS, said that the groundwork of the site of upcoming city is already under way and the whole project is slated for completion within about 35 months.
Sheikha Hanadi who is also CEO of Al Waab Development Company, said that with the coming of Al Waab City, people of Doha for the first time will have the choice to live in an environment which is virtually self-sufficient in services, amenities, recreation, culture and entertainment.
The proposed layout plan of Al Waab City.
"When we set out to create Al Waab City, we did so with every intention to create more than just development. We wanted to build a community with a heart", she said.
Also present at the news conference were Sheikh Nawaf Bin Nasser Al-Thani, President of NBKS Group, Khalid Rashid from Amwal, Farid Karkaby, CFO Al Waab Development Company, and Peter Ventin, Resident Manager and Stan Zippan, Regional Manager of HOC.
Sheikha Hanadi explained that at the heart of the development of the city is 'Barahat Al Waab', an urban piazza hosting an array of facilities.
"This will be Doha's first urban square or piazza, filled with shade structures, water features, formal landscaping and a spectacular sunken garden", she said.
The piazza, animated with outdoor cafes, restaurants and a world-class hotel will be the centre of activity and a place for public events, concerts and exhibitions.
Al Waab City, being developed 10 km from the Corniche, bordering Salwa Road and Al Bustan Road will provide housing for over 10,000 people and will comprise over 2,200 residential units, commercial space and a world class 300-room hotel.
The underground parking area provided has been designed to enable the creation of public access and allows for the overall green area covering more than 23 per cent of the total area of the City.
The project is being developed by Al Waab Development Company, a limited shareholding company comprising local and foreign investors and was designed by Hellmuth, Obata and Kassabaum Inc. (HOC). Amwal was selected as the project financial advisor.
Speaking at a news conference yesterday at the Four Seasons Hotel, Sheikha Hanadi Bint Nasser Al Thani, Deputy CEO of NBKS, said that the groundwork of the site of upcoming city is already under way and the whole project is slated for completion within about 35 months.
Sheikha Hanadi who is also CEO of Al Waab Development Company, said that with the coming of Al Waab City, people of Doha for the first time will have the choice to live in an environment which is virtually self-sufficient in services, amenities, recreation, culture and entertainment.
The proposed layout plan of Al Waab City.
"When we set out to create Al Waab City, we did so with every intention to create more than just development. We wanted to build a community with a heart", she said.
Also present at the news conference were Sheikh Nawaf Bin Nasser Al-Thani, President of NBKS Group, Khalid Rashid from Amwal, Farid Karkaby, CFO Al Waab Development Company, and Peter Ventin, Resident Manager and Stan Zippan, Regional Manager of HOC.
Sheikha Hanadi explained that at the heart of the development of the city is 'Barahat Al Waab', an urban piazza hosting an array of facilities.
"This will be Doha's first urban square or piazza, filled with shade structures, water features, formal landscaping and a spectacular sunken garden", she said.
The piazza, animated with outdoor cafes, restaurants and a world-class hotel will be the centre of activity and a place for public events, concerts and exhibitions.
Al Waab City, being developed 10 km from the Corniche, bordering Salwa Road and Al Bustan Road will provide housing for over 10,000 people and will comprise over 2,200 residential units, commercial space and a world class 300-room hotel.
The underground parking area provided has been designed to enable the creation of public access and allows for the overall green area covering more than 23 per cent of the total area of the City.