Al Mana Holding is planning to set up the first luxury furnishings and décor plant of its kind in Qatar in partnership with a French Cavum Group, a company operating in this market segment.
Construction work for the facility is expected to start towards the final quarter of this year. The endeavor will be a new venture for the group, which is one of the country's most renowned family businesses with interests focusing primarily on the energy, automotive and real estate sectors.
"Total project cost is expected to reach QAR 400 million ($110 million) and construction is set to commence this November," confirmed Saud Al Mana, vice president and managing director of Al Mana Group.
The project follows a recently concluded exclusive deal, allowing Al Mana Group to represent the French Cavum brand in Qatar and the wider Gulf market.
Al Mana added that the first phase of the project will see products manufactured in the proposed sold in Qatar and exported to other GCC markets. Later on, the facility's consumer base will extend to other Middle Eastern countries.
Al Mana Group was established in 1961 and currently has 18 subsidiaries engaged in various sectors and industries. Its total annual business volume is estimated at around QAR 2 billion (USD 549 million).
The group serves as the general sales agent in Qatar for international automotive brands such as Ford, Lincoln and Peugeot. Its business portfolio also includes several real estate developments, both residential and commercial, as well as stakes in various energy-related projects.