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Qatar, Tajikistan sign deal for Diar Dushanbe

Dushanbe-Tajikistan: Qatari Diar Real Estate Investment Company , an international leader in sustainable development, celebrated the signing of an agreement between the State of Qatar and the Republic of Tajikistan in the Tajiki capital Dushanbe. The agreement allows Qatari Diar to begin construction on mixed-use development "Diar Dushanbe," which will be located in the capital of Tajikistan and will provide a range of residential, commercial and entertainment opportunities, a press release said yesterday.

Minister of State for International Cooperation H E Dr Khaled bin Mohamed Al Attiyah signed the agreement on behalf of the Qatari government, in the presence of Eng Mohamed bin Ali Al Hedfa, GCEO of Qatari Diar , with Dawlat Ali Saeidoof, Tajik Minister of Investment.

The agreement comes as Qatari Diar concludes an extensive study and rigorous design and planning process as well as a series of discussions with the local government in order to begin work on the Diar Dushanbe project. The project supports wider relations between Qatar and Tajikistan and will encourage further cooperation between the two countries.

Eng Mohamed bin Ali said: "We are thrilled that Diar Dushanbe will be Qatari Diar 's first project in Central Asia. The agreement signed today will help support the Tajiki economy and strengthen relations between our two countries, while also diversifying Qatari Diar 's global project portfolio."

Wholly owned by Qatari Diar Real Estate Investment Company , Diar Dushanbe will create an integrated community development that will stretch across 68,000 square meters on the idyllic waterfront of the Gissar Canal overlooking the Kuli Javonon Lake. The project is expected to be completed by 2014.

The Diar Dushanbe mixed-use development will include five luxury residential buildings, a five-star hotel, and three commercial buildings with extensive retail and office space. The development will also provide sports and leisure facilities, a shopping centre, and a waterfront promenade surrounded by ample green spaces and landscaped gardens.

Qatari Diar is the first developer to bring a real estate project of this type to Tajikistan, and has worked extensively with local authorities to ensure that Diar Dushanbe will respect the surrounding environment while serving the needs of the local community, as the city of Dushanbe expects significant future growth.

Eng Mohamed bin Ali added: "We see great potential in this country, and Diar Dushanbe is only the beginning of our investment to revive the local market and support social and economic progress in Tajikistan. This project will not only become a point of attraction for further investment by other countries, it will also create an opportunity for long-term transfer of expertise to the local workforce as the development is built and operated according to the highest international standards."

Diar Dushanbe will support the people and economy of Tajikistan by providing local job opportunities, including 1,500 jobs during project implementation and 400 jobs for the ongoing operation of the hotels, stores, restaurants and other facilities included in the development.

© The Peninsula 2011