Msheireb Properties has awarded the construction contract for Phase 3 of its ambitious downtown regeneration project to Obayashi Corporation and HBK Contracting for a price tag of $687 million (QR2.5 billion).

In a statement, the company said construction is expected to begin later this month on the 14 buildings that comprise Phase 3, which includes 11 residential, two offices and a hotel. The mixed-use area will also feature some 84 retail spaces, four swimming pools, a daycare center, a spa and a mosque.

Developers are touting the estimated $5.5 billion project as the world’s first sustainable city center regeneration. Msheireb Downtown Doha buildings are aiming for LEED Gold Ratings and will integrate rooftop gardens,  recycled potable water and energy-efficient architecture

The first part of the project, Phase 1A, is slated for completion this year. The Diwan Amiri Quarter – made up of a Diwan Annex, National Archive and Amiri Guard building – is expected to be completed by September.

The Heritage Quarter, also part of Phase 1A, is due to be finished by December 2013, featuring four restored heritage houses that will serve as a museum, as well as an Eid prayer ground.

Phase 1B, 1C and Phase 2 are also reportedly under construction, but are not expected to be completed until 2015.

Researched over three years before construction began, the Msheireb project was originally planned to be completed with an integrated tram system by 2016.

However, Phase 4 of the project has yet to be finalized, according to updates issued by the company last month (PDF), and no new timeline for completion has been issued. Phase 4 will include integration with the Doha Metro. Construction on the underground station began there last October.

Here is Msheireb’s video rendering of what the project should look like when completed:

Credit: Image of construction progress and renderings via Msheireb Properties

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