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Qatari company starts vast Khartoum project KHARTOUM, Sudan -- A Qatari goverment-owned company announced on Sunday is was starting construction on the largest, most expensive real estate project in the history of the Sudanese capital. The $400 million project, known as "Mushaireb," will include office and retail spaces, residential towers, a five-star hotel and a family entertainment area along the Nile river, according to a statement from Qatari Diar Real Estate Investment Co. The project's buildings will cover 20.6 hectares (51 acres) along the Nile and seek to integrate traditional architecture into the urban environment, the statement said. "The investment in our development in Sudan is reflective of the strong growth potential we see in Sudan," the company's Deputy CEO for Operations Hassan al-Fadala said at a press conference. Qatari Diar Real Estate Investment Co. has over $40 billion invested in some 125 countries, Fadala said. Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |
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