Qatari firm invests in big real estate project in Sudan

May 3, 2008 (DOHA) — Qatari Barwa International Company, the international arm for Barwa real estate Company, said that it purchased a plot of land in Sudanese Al-Jazeera state to develop commercial and residential properties.

This contract confirms the growing interest of the Arab petrodollars countries to invest in the real state and agriculture projects in Sudan, as they have huge profit following the rise of the oil prices.

The real state firm said the deal was signed on Saturday May 3 in the Sudanese capital.
The land, 3milion square meters, is located on the main street leading to the capital, Khartoum, and its away 30 minutes from the international airport of Khartoum.

Ghassan Abdullah Albinali, Chief Executive officer of Barwa International Company announced that the firm has developed real estate investment in Sudan as a priority and after thorough study of the Sudanese market. He indicated that the Sudanese market is in real need for integrated real estate projects.

Albinali said that the land acquired all the necessary initial licenses to set up the project. Brawa is allowed according to the licenses to build a hotel, hotel apartments, international school and a university, in addition of villas, housing buildings, offices and commercial complex.

He further said that the company began to develop the general outline of the project in collaboration with global expertise homes.

“We expect the adoption of the general outline of the project by the competent authorities before the end of this year, at the start followed by the infrastructure of the project and build models of villas and apartment of the project.” Albinali said.

The firm said it is working to set up (Sudan Barwa Company) for the purpose of investment in Sudan and opening an office in Khartoum.

(ST)