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Posted On: 2 September 2009 11:54 am
Updated On: 12 November 2020 02:10 pm

Qatari Diar to develop tourist projects in Egypt

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Qatari Diar Real Estate Investment Company is aiming at establishing more strategic relations with all countries to expand investment in the areas of industry, agriculture and real estate, the company’s CEO Ghanem bin Saad Al Saad said. Qatari Diar invested in more than 35 countries around the world with investments up to $60bn, along with more than 60 projects in cooperation with more that 125 world companies. The company also opened 11 branches abroad, the CEO of Qatari Diar said in a press conference held in Cairo. Al Saad announced that Qatari Diar Company in Egypt is planning to develop several tourist projects in a number of cities. Al Saad highlighted a number of distinguished investment projects in Egypt including (Saint Regis Cairo) which will be well positioned to provide first class hospitality and amenities. St Regis Cairo, which cost about $1bn is scheduled to open in 2014, in addition to a number of projects for Barwa which will be established on an area of 2,000 acres in the Nasr City with investments of £25bn, as well as projects in Giza. Qatari Diar is currently developing three other projects: a $450m resort at Sharm El Sheikh, an industrial area and free zone at Burj Al Arab and a 35sq km development (Hurghada Project) at Sharm el-Arab on the Red Sea. QNA