We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 2 Dec 2013 05:58 PM

Font Size

- Aa +

Qatari Diar said to eye $600m Yemen project restart

Developer reportedly planning to resume work on Al-Rayyan Hills in February

Qatari Diar said to eye $600m Yemen project restart
Qatari Diar

Qatari Diar, the state-owned developer, is reportedly planning to resume work on a $600m real estate project in Yemen.

Nearly 44 villas were constructed in Al-Rayyan Hills (Sanaa) before the company was forced by war to freeze work but the company is hoping to restart work in February 2014, a senior official told the Qatari Arabic language daily Sharq.

The project is being developed by Al-Yemania Al Qatariah Real Estate Investment and Development Company - a joint-venture between Qatari Diar and Shibam Holding, which is owned by the Yemeni government, the paper said.

"This is one of the largest real estate projects in Yemen. We are trying to resume work in February 2014 and hope the authorities will help us in achieving this goal," said Waleed Barakat, project manager.

The project is spread over an area of 440,000 sq m and comprises a five-star boutique hotel, 204 luxury residential villas, 194 residential apartments, 72 townhouses, office space, retail and commercial facilities.

Qatari Al-Diar controls 80 percent of the venture, which was launched in 2008.

Arabian Business: why we're going behind a paywall

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.