"Qatar Diar Real Estate Investment Company (Qatar Diar) is planning to take a 70 per cent stake of Sama Dubai in Salam Yiti intergrated tourism comlex project, which was halted in the second half of 2009 due to global economic crisis.
The government is in talks with Qatar Diar for the Qatar firm to take Sama Dubai's 70 per cent stake in the project.
"We are in discussions with them and hope to reach an agreement soon. And the project, hopefully, will restart in a slightly different shape and positioning will be different. Today, the market is very different from 2007, when the project was conceived," explained the chief executive officer.
The original plans for the 4.19 square kilometre development (with Sama Dubai) included three five-star hotels, more than 1,000 apartments, 720 townhouses, around 400 villas and a golf course. "
'via Blog this'
No comments:
Post a Comment