QDREIC, the Qatari Diar Real Estate Investment Company has signed a major investment agreement for the development of a 100,000 square meter tourist and residential resort on the banks of the Blue Nile, across from the Presidential Palace in Khartoum, Sudan.
The deal, signed by state-owned QDREIC and the Sudanese government, is the third overseas venture to have been announced by Qatari Diar, according to Khaleej Times.
"This is a vote of confidence by Qatari Diar in the future of Sudan and a signal to the world that this country can attract major overseas investment," said Qatari Diar's CEO, Nasser Hassan Al Ansari.
"The agreement marks the entry of Qatari Diar into the Sudanese market where we are investigating further development opportunities." The initial project, he added, "will be a mixed-use development with a five-star hotel, restaurants, cafes, rest chalets, entertainment, retail and commercial facilities, and a sports club,” he added.
The agreement with Sudan was signed in Doha by Qatari Ansari and the Sudanese Minister of Physical Planning & Public Utilities, Abdul Wahab Mohammed Uthman, in the presence of the Governor of Khartoum, Abdulhalim Ismael Al Mutaafy and the Sudanese Ambassador to Qatar, Ibrahim Abdullah Faqiri Ibrahim.