• HSBC

Qatari Diar signs MoU with Cypriot government

Qatari Diar Real Estate Investment Company, an international leader in sustainable real-estate development, and the Cypriot government signed yesterday a Memorandum of Understanding to conduct feasibility studies and land evaluation for a new project in Nicosia, Cyprus.

This new project will be located on 25,000m2 of a prime site in Nicosia and will be a mixed use development.

Upon completion, the project will include a 5-Star hotel, luxury residential villas and apartments, retail space and office buildings. It is destined to become a major tourist destination, aimed at sophisticated investors and tourists from around the globe.

Speaking at the signing, Ahmed Al-Mazrouei, DCEO of Qatari Diar said:
"Qatari Diar are delighted to have signed this Memorandum of Agreement. We believe that this project highlights the strong relationship between our two countries and we look forward to working in Cyprus on the development. This is another example of Qatari Diar's focus of creating long term sustainable projects."
 
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About Qatari Diar Real Estate Investment Company
Wholly owned by the Qatar Investment Authority, Qatari Diar Real Estate Investment Company was established in December 2004 to support Qatar's growing economy and to co-ordinate the country's real estate development priorities.

Qatari Diar creates distinguished property developments with local culture and lifestyle experience to attract tourism and residents generating sustainable and tangible socio-economic benefits. Qatari Diar's vision is to become the most trusted and effective real estate investment company by focusing its value proposition on the creation of quality, well-planned and desirable sustained developments.

Qatari Diar also provides local and foreign property developers with further opportunities to invest in numerous projects across the globe, including but not limited to Qatar, Morocco, Egypt and Europe.

For further information please contact:
John Watts on +974 6876682

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