Qatari Diar and Binladin Group enter joint venture

  • Share via facebook
  • Tweet this
  • Bookmark and Share
JOINT VENTURE: Qatari Diar and Saudi's Binladin Group have agreed to help set up a joint venture with operations and industrial services in Qatar. (Getty Images)

JOINT VENTURE: Qatari Diar and Saudi's Binladin Group have agreed to help set up a joint venture with operations and industrial services in Qatar. (Getty Images)

State owned developer Qatari Diar and Saudi Binladin Group have agreed to set up a joint venture with operations in construction and industrial services in Qatar, Qatari Diar said on Monday.

The new company, called QD SBG Group, will be a joint venture equally held by Qatari Diar and SBG and will establish a construction company and an industrial services company in Qatar, Qatari Diar said in a statement.

The deal is the Binladin Group's first business venture in Qatar, the statement said without giving the value of the venture.

The QD SBG Group has signed agreements with Qatar's Barwa Real Estate Co and Qatari investment bank The First Investor to establish the new companies.

Qatari Diar, the property arm of Qatar's sovereign wealth fund which counts London's Chelsea Barracks among its most high profile overseas assets, has more than 80 projects worldwide worth about $60 billion, Qatari Diar's Chief Executive Ghanim bin Saad Al Saad said last year.

The Jeddah based Saudi Binladin Group is the one of the Gulf region's largest construction conglomerates. (Reuters)

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Sohail Akhtar

this is wonder full and i want QD SBG Group start a new and big project in pakistan

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Revealed: GCC's top 10 developers

Revealed: GCC's top 10 developers

The biggest players behind many of the region's most ambitious...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Qatar's labour requirements

Qatar's labour requirements

Qatar’s Supreme committee has published worker welfare standards...

2
Most Popular
Most Discussed