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Mon 17 Nov 2014 06:07 PM

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Qatar develops first project in Tajikistan to allow foreign owners

Diar Dushanbe will be wholly owned by Qatari Diar, the property arm of the Gulf state’s sovereign wealth fund

Qatar develops first project in Tajikistan to allow foreign owners

Qatari Diar Real Estate Investment Company, the property
arm of the Gulf state’s sovereign wealth fund, has launched its Diar Dushanbe
project in Tajikistan, the first development in the Asian country to grant
foreigners the right of ownership.

The launch was held at Qatari Diar’s headquarters
in Doha and was attended by His Excellency Mr Ardasher S. Qadiri, the
Ambassador of the Republic of Tajikistan to Qatar and Khaled Mohammed Al Sayed,
group chief executive officer of Qatari Diar.

The project is being constructed in Tajikistan’s
capital and its largest city, Dushanbe and comprises an area of around 68,000
square metres, overlooking Lake Kuli Javanon and facing the Presidential Palace.

The first phase of 67 residential buildings, an
administrative building, central courtyard, as well as several retail stores,
has already been completed and is ready to be handed over to investors.

Commenting on the project, Al Sayed said: “As
Qatari Diar’s foremost project in Central Asia, we are extremely proud to
launch the first phase of Diar Dushanbe, since it truly embodies the strong
ties between the State of Qatar and the Republic of Tajikistan.”

Qatari Diar currently has 49 projects underway in
more than 29 countries.