ASTAD Project Management was established on March 2, 2008, as a strategic 50/50 joint venture by Qatar Petroleum (QP) and Qatar Foundation (QF), in line with the national development plan and 2030 Qatar National Vision (QNV). Its aim is to develop a national, sustainable consultancy capable of providing world-class project management, engineering, and construction consultancy services to the State of Qatar and the region, with an exclusivity agreement in respect of QP and QF works.
The rationale behind this QP/QF alliance was that a locally owned and operated consultancy can capture and localize opportunities in the Qatar construction sector and develop sustainable national PM/CM capability at a lower cost base than an international consultancy.
The approach provides shareholder value to both QP and QF through its joint QP/QF executive management structure. This is in conjunction with aligning the control and governance frameworks of both entities in joint oversight of sovereign and state-funded programs of work.
In respect of other Qatari institutional investors, ASTAD is uniquely positioned due to its ability to cover the full spectrum of professional services for clients. These range from acting as the client’s representative with the Ministry of Finance and associated local bodies to full construction and site management.
Because ASTAD is 100% Qatari owned and operated, it also understands local context and market dynamics and, through its technical heritage, retains QP’s engineering expertise. It is also fully capable of program/project managing while delivering to Qatar the current portfolio of amazing and innovative world-class projects that require absolute engineering excellence.