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QATARI DIAR ANNOUNCE CONSTRUCTION PROGRESS AT ITS PRESTIGIOUS DEVELOPMENT IN KHARTOUM, SUDAN

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Construction work starts on 20.6 hectares luxurious integrated community development, to be rebranded “Mushaireb”
01 November 2009 (Khartoum, Sudan)- QATARI DIAR Real Estate Investment CompanyQATARI DIAR Real Estate Investment CompanyLoading…, an international leader in sustainable development, today announced further progress for its landmark Mushaireb mixed-use community development located in downtown Khartoum. The project updates were announced at a press conference in Khartoum today, presided by QATARI DIAR DCEO for Operations Dr. Hassan Al-Fadala and Sudanese state officials, headed by Dr. Abdel Rahman Al Khader, the Governor (Wali) of Khartoum; Engineer Abdel Wahab Othman, Minister of Urban Planning and Development; and Ambassador Ahmad Shawar, Secretary-General of the Supreme Council for Investment.

At the press conference, QATARI DIARQATARI DIARLoading… emphasized its eagerness to provide a complete integration plan for its’ Mushaireb development (formerly known as Al Defaf) which will further serve to incorporate traditional Sudanese architecture with the highest standards of design to create an environment where African heritage meets modern luxury.

Dr. Hassan Al-Fadala, QATARI DIAR’s DCEO for Operations, commented on the project: “The investment in our development in Sudan is reflective of the strong growth potential we see in Sudan. At QATARI DIARQATARI DIARLoading…, our vision for Mushaireb, as with all our developments, is to provide the best and safest environments for families who will be living in the development, boost the local living conditions while enhancing local traditions and cultures, and create long-term employment opportunities and sustainable business and tourism infrastructure in the countries where we operate. By attracting foreign commercial interests and tourism, many other aspects of Sudan’s economy and society stand to benefit.”

Clarifying the timing of the launch of the project and its operational phases, which will be characterized by the highest international standards, Dr. Al-Fadala added, “We have commenced work on the site by appointing CCC (Consolidated Contractors Company LTD) as our contractor, one of the world’s most respected engineering and construction companies with a successful track record of projects throughout North Africa and the Arab world, and we have also appointed the most experienced international design firms to implement the design work particular to this project.”

Construction work on Phase-1 of Mushaireb is officially underway with excavation work having commenced earlier in 2009. Piling for Phase-1 is complete with the superstructure expected to be visible shortly. Design and architecture works are ongoing for the remaining phases. The development has already proven to be a desirable location for investors seeking prime real estate in the heart of Khartoum, as the first residential tower sold out shortly after being offered for sales.

Mushaireb, formerly known as Al Defaf, will be one of Khartoum’s most distinguished real estate developments, offering a new distinct luxurious integrated facility that will elevate the level of future Khartoum real estate projects. The 20.6 hectares mixed-use development is situated on a prime location in downtown Khartoum with views along the Nile, conveniently located just 20 minutes from Khartoum’s airport. Mushaireb will mix traditional architecture within an urban landscape, and will include a 5-star hotel, residential towers, office space and retail. As part of the project, QATARI DIARQATARI DIARLoading… will also undertake the development of the majestic waterfront corniche area along the Nile to become a family-friendly entertainment area as well as a tourist attraction.

Dr. Abdel Rahman El Khader, the Governor (Wali) of Khartoum, stated: “This prestigious project is destined to change downtown Khartoum into a vibrant commercial and tourist destination, and is part of the ongoing efforts to encourage the continued growth and development of Sudan for the benefit of all. We are proud to share such a strong and deep bond between the people of Sudan and Qatar. We look forward to working with QATARI DIARQATARI DIARLoading… as this distinctive project continues to move forward, and to achieve the mutual objectives of the cooperation between our two countries through all domains.”

Launched in 2004, QATARI DIARQATARI DIARLoading… is wholly-owned by the Qatar Investment Authority and currently has more than 30 real estate development projects active in 20 countries around the world. Qatari Diar’s unique vision of sustainable development places community and local traditions at the forefront. It creates distinguished property developments with local culture and lifestyle experience to attract tourism and residents generating sustainable and tangible socio-economic benefits.

About QATARI DIAR Real Estate Investment CompanyQATARI DIAR Real Estate Investment Company Wholly owned by the Qatar Investment Authority, QATARI DIAR Real Estate Investment CompanyQATARI DIAR Real Estate Investment CompanyLoading… was established in December 2004 to support Qatar’s growing economy and to co-ordinate the country’s real estate development priorities. QATARI DIARQATARI DIARLoading… receives broad support from the Qatari government, which aims to take advantage of promising real estate opportunities that will achieve sustainable economic and societal returns. With this support, QATARI DIARQATARI DIARLoading… has already invested in more than 20 countries around the world, with investments totaling $40 billion and more than 30 projects, 125 companies and international offices, and 11 branches functioning abroad.

QATARI DIARQATARI DIARLoading… employs more than 250 individuals to fulfill its vision of becoming the most trusted and effective real estate investment company. The company focuses its value proposition on the creation of quality, well-planned and desirable sustained developments. In the coming months, QATARI DIARQATARI DIARLoading… will also be providing local and foreign property developers with further opportunities to invest in numerous projects across the globe, including but not limited to Qatar, Syria, Morocco, Egypt and Europe. www.qataridiar.com

For further information, kindly contact:
John Watts – Brown Lloyd James
Tel: +974 687 6682

Press Release 2009
from Brown Lloyd James