Mazaya Real Estate Development is planning a strategic tie up with Ariane Real Estate to develop part of the Ariane City project. The project, which is under implementation, is expected to complete phase 1 by the second half of this year.
“Mazaya Real Estate Development is considering a strategic partnership with Ariane Real Estate to develop part of the Ariane City project located in Mesaimeer, where the Company had reached an advance stage of studying this partnership,” said Mazaya Real Estate Development in its recent report. “The project is under implementation and is expected to complete phase 1 by the second half of 2021 as the city offers a harmonious mix of residential buildings and commercial spaces such as Boulevard Street, hospitality, various uses and commercial spaces, as well as retail and entertainment spaces,” it said.
In January this year, Mazaya had announced acquisition of four residential buildings in the Al Sadd area for a total value of QR150m. The buildings consist of 155 housing units, divided into two types of apartments, including three-bedroom apartments and two-bedroom apartments, and each building contains a swimming pool, two gyms, and parking for 165 cars. Spread across a total building area of 6,659sqm, the buildings are located in a vital location in the Al Sadd area.
Mazaya Real Estate Development is also working on Marina Plaza project. The company had announced the completion of the study on changing the scheme of the Marina project discussing with Qatar Foundation for Education, Science and Community Development (the owner of the land), and it was approved to change the activity to commercial and residential project in two phases.
“The scheme of first phase contains commercial spaces facing the marina of up to 33,000 square meters that provide various and varied activities such as restaurants, cafes, retail stores. The company is planning to operate this phase by the summer of 2022 before the start of the World Cup,” said the company.
As per the company, the second stage would begin immediately after the completion of the tournament and contains more than 200 apartments of a variety of (one and two rooms), all of which would be offered for rent. Mazaya is currently working on obtaining the necessary approvals for the project from Lusail and concerned authorities
