(MENAFN - The Peninsula) Qatari Diar and Yemen's General Holding Corporation for Real Estate & Investment Development (Shibam Holding) launched the first phase of the Al Rayyan Hills mixed-use development project yesterday.
The master plan for the Al Rayyan Hills development, one of Qatari Diar's most promising investments, will develop, serve and support the economy of Yemen.
The master plan outlines Qatari Diar's vision to develop and promote this vital project in downtown Sana'a as a prime investment destination both locally and internationally.
The project also serves Qatari Diar's commitment to encouraging the real estate sector in Sana'a, which is bursting with opportunities for further development and investment.
Yemeni Prime Minister Dr Ali Mohammad Majawar led the visitors and media yesterday in a familiarisation tour through the development site, where he officially announced the groundbreaking for the Al Rayyan Hills project.
The first phase of construction will include construction of 172 luxury villas and a residential tower, in addition to the development's basic infrastructure.
Qatari Diar's DCEO of Operations Dr Hassan Al Fadala said: "We are incredibly excited to be here with our distinguished Yemeni partners to announce the commencement of construction for the first phase of this landmark property."
He said the project was a first of its kind in Sana'a and will serve as a building block for future investment projects.
Expressing his contentment with the launch of the first phase of the project, Board Chairman of the General Holding Corporation for Real Estate & Investment Development (Shibam Holding) and the Deputy Chairman of Al Yemania Al Qatariah Saad Abdullah Sabra said: "Yemen is proud to welcome our partners and friends from Qatar to commemorate this exciting project. Al Rayyan Hills will be a landmark site in Yemen that will further strengthen the country's business and tourist infrastructure tremendously."
The master plan integrates the hilltop site into the greater Sana'a area to incorporate many commercial facilities and areas with the city's green spaces for the enjoyment of the capital's residents and visitors.
In addition to a five-star hotel, the Al Rayyan Hills development will include a variety of housing options, including a range of residential villas and luxury apartments.
The master plan also includes designs for a profusion of shopping, entertainment, and business destinations to create an integrated community well-suited to the various needs of the community.
The site of the Al Rayyan Hills development is a landmark in Yemen's capital city and is one of the highest sites in the southern part of Sana'a- Faj Attan.