VINCI Park and Qatari Diar create a joint company to operate car parks in Qatar

3 May 2010 - Events - Qatar

- First illustration of the strategic partnership with Qatari Diar
- High development potential in car park operation in Qatar

VINCI Park recently signed an agreement with Qatari Diar Real Estate Investment Company (Qatari Diar) to create QDVP, a joint services company that will specialise in design and operation of car parks and on-street parking facilities.

This company, held 51% by Qatari Diar and 49% by VINCI Park, will operate in Qatar under the MaWaKif brand, with the same standards of quality and services fielded by VINCI Park in Europe and North America.

QDVP is expected shortly to sign its first contract to operate a car park in Doha. It will also contribute its expertise to QDVC, set up by Qatari Diar and VINCI Construction Grands Projets, which is currently building four 560-place car parks and studying a number of parking sites in Doha.

The creation of QDVP is the first illustration of the strategic partnership between VINCI and Qatari Diar, finalised on 14 April this year via injection of Cegelec into VINCI in exchange for Qatari Diar taking a 5.78% stake in VINCI's capital.

 

About VINCI
VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.