Qatar fund plans $1.36bn Italian hotel project


02/02/2013 16:32 AST  Trade Arabia

Qatar Holding, the investment arm of the country's sovereign wealth fund, plans to build four luxury hotels - including a 150-room Harrods Hotel - on Sardinia, the second largest island in the Mediterranean Sea and an autonomous region of Italy.

The massive one-billion-euro development project coming up on Sardinia's Costa Smeralds is likely to be completed over the next 10 years, said Italian media reports citing Arzachena Mayor Alberto Ragnedda.

The plan also includes a 200-room family hotel for the luxury market, and two others, one in Pevero with 90 rooms and one in Razza di Juncu with 75 rooms, targeting young people, the report stated.

The plan also includes an aquatic amusement park inside the Liscia Ruja reserve, a low-impact electric Go-Kart route within a former landfill at Abbiadori, expanding roads and water and sewer systems, and an academy to train tourism managers.

The project, which was presented by architect Tonino Fadda for Qatar Holding, is to be debated with environmental experts to make sure it doesn't violate Sardinia's landscape protection regulations, it added.

Economic and Business News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT
Most Viewed Companies
Ticker Price Volume
RIBL 21.02 1,298,840
EMAAR 11.7 18,297,984
SPIMACO 50.75 187,448
MESC 19.11 523,598
EEC 90.02 730,935
WALAA 34.19 967,506
SAGRINSURANCE 48.77 291,386
Recent News

DIFC introduces QIF as it further strengthens its offering to asset ma
Investors, regulators and tax authorities are pushing the choice of fund domicile to the fore with requirements for good corporate governance, transparency and financial regulation, while asset manag

Investcorp to complete sale of Berlin Packaging for $1.43 billion
Investcorp announced today that it remains on track to complete the previously announced sale of Berlin Packaging, a leading supplier of rigid packaging products and services in North America, to Oak

Transco Abu Dhabi invests in LED display solutions
TRANSCO is a subsidiary of Abu Dhabi Water & Electricity Authority (ADWEA) which is acknowledged as the regional leader in transmission of water, electricity and provision of related services within

Emirates NBD PJSC NZD 100,000,000 Fixed Rate Notes due 2019
Emirates NBD PJSC (Emirates NBD) have successfully issued NZD 100 million Fixed Rate Notes, maturing in October 2019, from their $7,500 million Euro Medium Term Note Programme.

The senior

Nakheel awards Dhs120 million contract for Al Furjan infrastructure
Developer Nakheel has awarded a contract worth almost Dhs120 million for infrastructure work at its Al Furjan master community in Dubai.

The contract – with Dubai-based Target & Jima Constru

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?