Friday, October 30, 2009

Qatari investors to finance Dushanbe shopping mall, housing complex


DUSHANBE, Tajikistan — Diyori Dushanbe is scheduled to finish construction in 2011 in the Tajik capital with help from Qatar. The US$180 million complex unveiled August 27 will include housing, retail shops, a luxury hotel, sport centre and gymnasium, medical facilities, an entertainment complex and a pre-school.

The complex will cover 70,000 square metres and is owned by the real estate investment firm Qatari Diar, which also owns other properties around the world valued at approximately US$80 billion.

Qatari investors plan to break ground later this month and complete construction within 18 months. They have contracted Tajik companies to build it, creating 600 jobs in the country. Another 300 jobs will be created when the complex opens. The head of the Qatari company said the core of the complex features five 10 to 16 storey high-rise structures that will house up to 300 families.

Tajik President Emomali Rakhmon, who attended the unveiling of Diyori Dushanbe, noted that the complex will also include buildings for the embassy of Qatar and a branch of the Bank of Qatar that “our countries discussed and agreed to at the start of 2009.”

According to Committee on Investment and Management of State Property Chairman Farrukh Khamraliev, while Qatar has invested more than any other Arab country in Tajikistan, in 2008, only two percent of total direct foreign investment in Tajikistan came from Arab countries. "We hope that this figure will grow over time," he said.

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