DOHA: The logistics and industrial zones that are coming up in the south of the country are expected to attract direct investments worth a staggering QR30bn ($8.23bn), says the Minister of Economy and Commerce.
“The industrial and logistics zones are being developed on the directives of the Emir H H Sheikh Tamim bin Hamad Al Thani, to encourage the private sector,” said H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani.
Plots of land were allotted yesterday through a lottery system in the three zones to eligible applicants, which are local companies, as part of first phase of land allocation.
The plots have been allotted to companies to build various facilities such as warehouses, garages, showrooms, cold storages, factories and plants, among other things.
The Minister said the three zones would help promote industrial development, especially small and medium-sized enterprises (SMEs).
On the sidelines of the draw, the Minister said the three zones would help attract direct investments of QR30bn, Qatar News Agency (QNA) reports.
The lottery event was held at the Ministry of Economy and Commerce premises by its Logistics Committee.
The Minister said the raffle was conducted in a transparent way and some 1,654 plots were allotted to the applicants.
The applicants comprising Qatari companies totaled 2,994, and the three zones are in South of Al Wakrah, Birkat Al Awamir and Aba Salil.
Some 1,200 plots were allotted to new applicants while 454 plots were re-allotted to applicants in Birkat Al Awamir zone alone.
The zones have already been developed and and have the needed basic services and infrastructure.
The plots will be handed over to the lottery winners on long lease and on nominal annual rent before February 2016 after signing a lease contract.
The lottery winners, after they take possession of the plots, will be given a year to obtain the necessary licences to build the facilities for which they have been allotted the land.
The winners will, then, have time until the middle of 2018 to begin operations of their businesses and facilities (warehouses, garages, factories, cold storages, showrooms, etc.), a press statement issued by the Ministry of Economy and Commerce said.
Giving break-ups of the total investments expected in the three zones, the statement said that food storage and processing facilities would likely attract the maximum investment (of QR4.4bn), followed by the building material storage and manufacturing facilities, QR4.2bn, the contracting sector, QR3.3bn.
The transport sector, including car showrooms and garages, would attract investments to the tune of QR2.4bn.
The furniture and furnishing businesses will be attracting around QR940m in investments, while the fashion industry, QR1.5bn.
The investment of the electronic industry and trading is expected to be around QR1.9bn, while fodder warehouses would likely attract an estimated QR870m.
Heavy equipment, cargo, medical depots, stationery and sports and miscellaneous warehousing and businesses might together attract investments of around QR7bn, according to the ministry statement.
The Peninsula
