Business & Finance Club - Real Estate Sector: Arabtec has inked a deal with the Qatar General Insurance and Reinsurance Company (QGIRCO) to build the QAR520m (AED524m) Qatar World Trade Centre tower in Doha.

The contract was signed by Sheikh Nasser Bin Ali Al Thani, Chairman of Qatar General Insurance & Reinsurance Company and Riad Kamal, Chairman of Arabtec yesterday.

The 50-storey tower will include a spherical auditorium with a capacity of 523 fixed-seats, a 1775m2 multi-purpose hall for conferences and exhibitions, and five floors of executive offices. The top floor will feature circular Business Club with high levels of service coupled with views of the city of Doha. The tower offers four-storey of car park space for up to 1169 cars.

Preparation work started on site in April, and Kamal said the project should take 26 months to complete. Piling works have been completed and the construction works has commenced on site. Handover is scheduled for completion in the summer of 2012 .