Qatari Diar Real Estate Investment Company, a major force in global real estate development, has signed a strategic investment agreement with the Sudanese Government which will see the company develop a major tourist and residential resort on the banks of the sweeping Blue Nile in the Sudanese capital, Khartoum.
The ground-breaking accord was signed in the Qatari capital, Doha, between Nasser Hassan Al Ansari, Chief Executive Officer of Qatari Diar and Sudanese Minister of Physical Planning & Public Utilities, Abdul Wahab Mohammed Uthman.
“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 Al Ansari. “The agreement marks the entry of Qatari Diar into the Sudanese market where we are investigating further development opportunities.”
Qatari Diar’s Sudan development, located on the Blue Nile, will be built on a prime site opposite the Sudanese capital’s Presidential Palace and will span 100,000 square metres.
“This will be a mixed-use development with a five-star hotel, restaurants, cafes, rest chalets, entertainment, retail and commercial facilities, a sport club. The resort will be surrounding by residential villas and offices for which there is currently high demand in Khartoum,” explained Al Ansari.
This is the latest overseas venture for Qatari Diar – the name behind the giant Lusail development, the largest and most innovative domestic project in the Arabian Gulf Peninsula state. Qatari Diar is building a luxury resort on Morocco’s Al Houara Coast, close to Tangier, the gateway to Africa. It is also collaborating with the Omani Government on a showpiece eco-resort in Ras al-Had – the most easterly point on the Sultanate’s peninsula at the crossroads of the Indian Ocean and the Gulf of Oman.
At the signing ceremony, which was also attended by the Governor of Khartoum, Abdulhalim Ismael Al Mutaafy and the Sudanese Ambassador to Qatar, Ibrahim Abdullah Faqiri Ibrahim, the Governor spoke of hopes for future investment in the North African republic.
“Khartoum has established a number of foreign direct investment laws to encourage inward investment into the capital city and we have chosen to partner with Qatari Diar for this project because of its proven regional experience and established reputation for quality delivery.
“This project will go a long way to addressing the infrastructure issues currently impacting Khartoum,” Al Mutaafy.
About Qatari Diar
Wholly owned by the Qatar Investment Authority, Qatari Diar was incorporated in December 2004 to support Qatar’s growing economy and to co-ordinate the country’s real estate development priorities. Qatari Diar is a government-backed real estate investment company responsible for creating and coordinating financially sound property development opportunities that will generate sustainable and tangible socio-economic benefits. Qatari Diar’s vision is to become the region’s most trusted and effective real estate investment company by focusing its value proposition on the creation of quality, well-planned and desirable developments. In the coming months, Qatari Diar will provide interested local and foreign property developers with opportunities to invest in numerous projects in Qatar and the wider region.
