What factors led you to realize the potential of the construction sector in Qatar?
Our passion for the real estate development and expertise in engineering and construction field led us to establish Ramaco. Ramaco is specialized in delivering complete construction solutions: design, engineering, construction, facility management and maintenance, in line with international standards. In the past few decades, the state of Qatar was a virgin land with potential for major development, making it one of the pioneer countries in the Middle East as well as globally. In addition, the development led Qatar to be one of the centers for business and tourism. The company's current focus is in Lusail Marina and The Pearl-Qatar.
What is attractive about Lusail Marina?
The city is a physical manifestation of Qatari future vision of sustainability and will be home to over 200,000 people. The Marina District promises to be the lively hub of Lusail, overlooking the marina and providing waterfront residential, mixed-use, commercial, and hotel spaces with large, open areas leading to the waterfront.
What trends are catching up in the market?
The market is currently tough, and the global economy is sort of going through recession. Nevertheless, our quality and prices are stable. The properties that Ramaco built and managed are at 85% occupancy rate, which is high considering the current economic situation. Eco-friendly and smart high-tech buildings are trending in the Qatari real estate market. Our towers in Lusail are built in compliance with all the latest requirements adopting modern technologies, software, and equipment such as BIM, home automation systems, and pneumatic waste management system. Our projects are among the few projects to be accredited the 5-Star Sustainability Certification. In addition, our towers offer high quality and luxurious facilities and amenities to the tenants, thus providing them value for the money they invested. Another significant trend and challenge in the market is clients' requirement to execute projects in a short duration without compromising on quality. This is in compliance with the country's commitment to be ready for the 2022 FIFA World cup. Ramaco is keeping up the pace and delivering on time to clients' satisfaction.
Are you looking to continue partnering with other real estate developers?
We already have partners and are providing real estate services to them; we have been working with Yacoub Jaidah & Sons for more than 18 years. Meanwhile, we have worked with Danat Qatar for almost 10 years and have developed several projects for them. We are now developing and designing three compounds for the United Development Company. Initially, we were highly engaged in the private sector, and in the near future, we will be offering our services to government projects and other customers. Our doors are always open to people who appreciate our products.
What is your vision for Qatar, the real estate sector, and your company?
Thanks to the FIFA World Cup, 2022 is a great challenge, not only for Qatar but for the entire Middle East. It will be an enriching experience for the country and an opportunity to show how Qatar is evolving. The government has invested heavily in buildings and infrastructure, which is reaping benefits for the entire country. Qatar has a solid plan for the post-2022 period, and we are confident the economy will keep expanding under this plan. We are as optimistic as we were when we started from scratch in 2001. Under Vision 2030, the market will become more competitive and will open up more opportunities to foreign investors from across the world.