Mazaya Qatar hands over Sidra residential compound to QF

Mazaya Qatar has handed over Sidra residential compound to the Qatar Foundation (QF) for Education, Science and Community Development.

Sidra Residential Compound has 1,165 residential units covering an area of 143,000sq m, developed by Mazaya Qatar for the Qatar Foundation under build-operate-transfer (BOT) scheme for 20 years. The contract between the two parties stipulates that the rent payment is payable by a six month in advance, Mazaya Qatar said in a statement to the Qatar Stock Exchange.

“A company was appointed to manage and maintain the village of Sidra Compound after a tender was issued. The company was selected among the major companies specialised in the management and maintenance of residential complexes and was contracted to manage the compound for a period of five years,” said Mazaya Qatar board member and chief executive Hamad bin Ali al-Hedfa.

The village comprises a commercial shopping centre that includes several shops from a library, supermarket, pharmacy, laundry, coffee shop, restaurants and other shops on an area of about 1,800sq m to serve the residents of the village complex of Sidra housing.

Mazaya Qatar chairman Rashid bin Fahd al-Naimi, accompanied by the company’s executive management, toured the village’s residential facilities and carried out all the project facilities and residential buildings and ensured that they were ready to receive the residents of the Sidra residential compound, which has extensive green areas throughout the complex, totalling 13,000sq m.