Qatari Diar Real Estate Investment Company, wholly owned by the State of Qatar’s High Supreme Council for Economic Affairs and Investment, has announced that it will launch the first of its projects during the third week of December 2005.
Nasser Hassan Al Ansari, Chief Executive Officer of Qatari Diar said “Although Qatari Diar is owned by the state, it is structured on recognized, best-practice private sector principles that guarantee transparency and efficiency in all aspects of the business.”.
In a bid to generate investment opportunities across the region, in recent months, Qatari Diar announced two significant projects, the first of which is a $170m luxury 230 hectare tourism resort development on the Hawara Coast in Tangier, Morocco.
The second project is in collaboration with the Omani Government for a two million square meter eco tourist development in Ras Al Had district in Sur.
Nasser Al Ansari said that Qatari Diar will launch the $5bn Lusail Development, one the largest and most innovative projects in the country in terms of total area, investment cost and philosophy, in the third week of December 2005.