By Andy Sambidge
Qatar SWF's property arm's project to include luxury hotel, residential towers, office, retail.
Qatari Diar, the property arm of Qatar's sovereign wealth fund, has started work on a mixed-use project in Sudan, it has announced.
The 20.6 hectare $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.
Dr Hassan Al-Fadala, the company’s deputy CEO for Operations, said: “The investment in our development in Sudan is reflective of the strong growth potential we see in Sudan.”
He added that Consolidated Contractors Company had been chosen for the contract and construction work on phase one of Mushaireb was now underway.
He added that design and architecture works were ongoing for the remaining phases while the first residential tower was already sold.
As part of the project, Qatari Diar will also undertake the development of a waterfront corniche area along the Nile to establish the area as a tourist attraction.
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, its first in Central Asia, and has said it was eyeing investments in Vietnam.