ArabianBusiness.com - Middle East Business News
Tuesday, 24 November 2009 12:21 UAE time

YOUR DIRECTORY /

| Share |

Qatar to build Palestinian community

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 22 May 2008

Qatar Investment Authority’ real estate arm Qatari Diar will construct a $350 million community between Ramallah and Nablus on the Palestinian West Bank.

Qatari Diar said the town of Rawabi will comprise 5000 affordable houses, and host over 40,000 residents. Rawabi will be Palestine's first planned community, with construction phases spanning a 5-year period.

The project will be developed and managed by Bayti, which is owned by Qatari Diar and Palestine-based Massar International.

Story continues below
advertisement

Qatari Diar CEO Ghanim bin Saad Al-Saad said in a statement the firms were “committed to the advancement of the Palestinian economy and the welfare of the Palestinian people”.

“Building Rawabi will create thousands of job opportunities as well as the chance for ordinary Palestinians to own their own home," he said.

Rawabi would provide housing for young Palestinian families as well as Palestine's growing class of single male and female working professionals, he said.

The site for the new community is situated 9 kilometres north of Ramallah, an area currently under the control of the Palestinian Authority.

Rawabi's residential areas will be constructed around a central commercial area, which will feature a pedestrian promenade for shops and restaurants.

Capitalized at $1 billion, Qatari Diar has 18 real estate projects underway, including Qatar’s Lusail project, an eco-tourist resort in Oman, and developments in Seychelles and Cuba.

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

RELATED LINKS

  1. Qatari Diar Real Estate Investment Company»

 EMAIL ALERTS

  1. Qatar Investment Authority

  2. Qatari Diar Real Estate Investment Company

  3. Real Estate


CURRENCY CONVERTOR

Tell us your story

READER COMMENTS

  1. Why I h8 junk txts 10
    24 Nov ' 09 at 10:09
    I tried calling the phone company after they woke me too many times in the middle of the night. The person on the line said there was...   More  »
  2. Dubai developers see negative press reports decline 07
    24 Nov ' 09 at 07:48
    How much can one read/write abt one particular event. That’s the only reason the negative writing has gone down no one is interested...   More  »
  3. 'Worrying' diabetes tests raise doubt on UAE's health 05
    24 Nov ' 09 at 09:42
    Not only UAE, now India is also concerned about Diabeties. Me too having this sweet disease, but I handle it with my mind control,...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM