(MENAFN - The Peninsula) Qatari Diar Real Estate Investment Company, an international leader in sustainable real estate development, has launched a new first-class mixed-use development project in Dushanbe, Tajikistan.
During the ceremony held here on Thursday, Qatari Diar CEO Ghanim bin Saad Al Saad visited the site of the project before presenting a model of Diar Dushanbe to Tajikistan President Emomali Rahmon at the Hyatt Regency Hotel.
To be built on 68,000 square metres of prime waterfront land located along Dushanbe's picturesque Yavonon Lake on Nizomi Ganjavi Street, the "Diar Dushanbe" development, costing between 150m to 180m, is to be built in stages in keeping with the local market requirements.
It will include residential towers, commercial and retail space, a luxurious landmark 5-star hotel, sports and leisure facilities, and a waterfront promenade. The development will be meticulously planned based on a master plan that aims to compliment and support the other developments in the area, as well as the future growth of the greater city of Dushanbe.
Speaking on Diar Dushanbe, Al Saad said: "Qatari Diar is proud to continue its strong growth and expansion, especially into new markets with an underserved need for quality residential and commercial real estates that meet the highest international standards.
"Our focus will be on creating in Tajikistan a high-quality, well-planned, desirable and innovative real-estate development that will deliver a high standard of lifestyle. Qatari Diar is fully committed to supporting the further development of Tajikistan through the company's development and investment," he said.
In appreciation of the resources and market capacity of the Tajiki capital, Dr Hassan Al Fadala, Deputy CEO for operations of the company said: "Qatari Diar sees a strong opportunity to develop an economically viable, high-quality, differentiated and integrated world-class development in Dushanbe that balances economic, social, and environmental sustainability.
Al Fadala added: "Our development aims to create a focal point in Tajikistan for quality business and residential use, serving as a magnet for both local and international clients. We look forward to helping further support and meet the growing demands of the country's continued economic and business development." Qatari Diar Real Estate Investment Company is wholly owned by the Qatar Investment Authority. It was established in 2004 to support Qatar's growing economy and to co-ordinate the country's real estate development.