Sunday, August 30, 2009

Qatari Diar launches key project

Posted on » Sunday, August 30, 2009
Posted on: Gulf Daily News

DUBAI: State-owned investment firm Qatari Diar has launched a luxury real estate project in Tajikistan worth at least $150 million, reports said yesterday.

The Dushanbe Diar project in the Tajik capital Dushanbe will include residential towers, a five-star hotel, shopping malls, conference centres and gardens when finished in 2012 at a cost of between $150m and $180m, the Qatari News Agency said.

The project is Qatari Diar's first in Central Asia. The unit of the Gulf country's sovereign wealth fund the Qatar Investment Authority has said it might delay plans to invest in Asian countries such as China, Vietnam and Cambodia because of the global financial crisis.

The Dushanbe Diar project was launched on Friday at a ceremony in Dushanbe with Tajik President Imomali Rakhmon and Qatari Diar chief executive Ghanim bin Saad Al Kawari.

AL Kawari said Qatari Diar would look into possible further investments in the Tajik agriculture and education sectors, the state news agency said.

He told reporters the firm's total investments around the world were around $60 billion in 35 countries.

It was not clear if this figure included investments in Qatar.

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