FINANCIAL NEWS

Qatar’s UrbaCon to initiate USD250m car park project

15 Mar 2015

(MENAFN) UrbaCon, a privately owned real estate construction and development company, announced that a new USD250 million underground car park with a capacity of 3,000 vehicles is set to be open, Arabian Business reported.

The car park, adjacent to the Souk Waqif and the Corniche, took almost three years to plan, design and build, according to statements made by UrbaCon.

The structure was originally commissioned in order to address the existing parking issues in the Qatari capital. The park covers an area of 111,000 square metres and using over 122,000 cubic metres of concrete.

It also provides a practical solution for those looking to avoid the searing summer temperatures that can frequently reach in excess of 50 degrees Celsius.

“I’m delighted with the positive impact this facility will have for the residents and visitors of Doha. Providing a comfortable environment for car parking with sufficient capacity,” Urbacon’s executive director said in a statement.

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