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Sun 11 Apr 2010 08:24 AM

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Qatari Diar expands $400m Khartoum project

Property giant says it has acquired extra 58,000 sq m for project in Sudan.

Qatari Diar expands $400m Khartoum project
COMMUNITY PLAN: Qatari Diar has expanded its plans for its community project in Khartoum. (Getty Images)

Qatari Diar, the property arm of Qatar's sovereign wealth fund, has announced that it is expanding its mixed-use community development in downtown Khartoum.

It has acquired an additional 58,000 sqm of land, resulting in a total 206,000 sqm for the project, the company said in a statement.

The $400m mixed-use Mushaireb project in Khartoum will include a 5-star hotel, residential towers, office and retail space, Qatari Diar Real Estate Co said in a statement.

The expansion was announced at a signing ceremony for the new land purchase at Qatari Diar's Lusail headquarters in Doha.

Mohammed bin Ali Al Hedfa, Group CEO of Qatari Diar, said: "The expansion of our Mushaireb development in Sudan reflects Qatari Diar's deep commitment to establishing the best possible mixed-use real estate development, with an emphasis on sustainable development, for the people of Sudan.

"We see strong potential for the country's long-term growth, and we are proud to be helping to improve the business, tourist, and residential opportunities and infrastructure in Sudan.

"Through our expansion of Mushaireb will be creating a unique environment where Sudanese heritage meets modern luxury. We look forward to continuing progress as our work on the site continues."

Qatari Diar, which counts London's Chelsea Barracks among its most high-profile overseas assets, launched a luxury real estate project in Tajistan in August 2009, its first in Central Asia, and has said it was eyeing investments in Vietnam.

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