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Mazaya Real Estate Development, Ariane Real Estate to form strategic partnership

Mazaya Real Estate Development, Ariane 
Real Estate to form strategic partnership

Tribune News Network
Doha
Mazaya Real Estate Development is in an advanced state of forming a strategic partnership with Ariane Real Estate to develop a part of the Ariane City project in Mesaimeer, according to a press statement from Mazaya.
The project is under implementation and its phase 1 is expected to be completed by the second half of 2021. Ariane City offers a harmonious mix of residential buildings and commercial spaces such as boulevard street, hospitality establishments and commercial spaces as well as retail and entertainment spaces.
Eng Ibrahim Jaham Al Kuwari, managing director of Mazaya Real Estate Development, stated that the idea of a partnership in developing the project is a step in the right direction and in line with the directives of the chairman and members of the Board of Directors to invest shareholder funds in projects that guarantee the flow of remunerative liquidity to the company for the benefit of the shareholders.
“This partnership is a new step to increase the company’s sources of income. Returns from these buildings is guaranteed according to the agreement to be entered in with Aryan Real Estate, as it will be leasing the buildings at a fixed return for a period of 5 years,” stated Eng Kuwari.
Khalifa Jameel Al Majed, chief operating officer of Aryan Real Estate, welcomed the cooperation between the two Qatari companies and hoped that it would be the beginning of other new collaborations in future projects.
Aryan Real Estate manages several large projects in different parts of the country and one of the most important of these projects is the Ariane City located in Mesaimeer on a total area of 1,236,552 square metres. It contains approximately 196 residential buildings in addition to a 1-km stretch dedicated to retail shops, boulevard and commercial street, hospitals and schools as well as the various other services that cover the needs of the residents of the city.

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