Qatari Diar Real Estate Investment Company, a unit of the Qatar Investment Authority, is pushing resolutely to strengthen its presence in the real estate sector in Central Asia with a mega project in Tajikistan and discussions close to a deal for a similar project in Vietnam.
China is another promising market for the company, according to Qatari Diar’s Deputy CEO for Operations, Dr Hassan
“We are waiting for the final touches on our development agreement with the government. It should go ahead in a couple of months,” Dr Al Fadala told The Peninsula yesterday at the Qatari Diar Headquarters in Lusail.
“We have just launched the project in Tajikistan and our CEO, Ghanim bin Saad Al Saad presented the details of the project and the master plan to the Tajikistan President, Emomali Rakhmon.”
The luxury mixed-use development ‘Dushanbe Diar’ project in the Tajik capital Dushanbe will include residential towers, commercial and retail space, a luxurious 5-Star hotel, sports and leisure facilities when completed in 2013 at a cost of some $ 150m.
Dr Al Fadala pointed out that Qatari Diar’s investment in such a large project indicates a high degree of trust in the country’s stability and the company’s confidence in long-term
“So far we have not seen any risks. The government stability and life there is quite promising. Since we moved in two years ago, we have not faced any problems,” said Dr Al Fadala.
He said that Tajikistan’s market in terms of the business environment is very promising. The market is looking for the infrastructure development of the kind Qatari Diar is undertaking.
“When we go there with such a project it would encourage people to do more business in the country. We are getting all kinds of support we need from the government,” he said. “The leadership is keen to get us whatever approvals or permits that we need to kick off this project and start construction.