Qatar fund plans $1.36bn Italian hotel project


02/02/2013 16:32 AST

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.

Trade Arabia
Economic and Business News
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
EEC 22.07 825,654
DHBK 38.35 54,728
APBS 0.71 5,000
ALMAL 21 4,368,824
RIBL 10.26 978,863
GFH 0.24
DSI 0.49 20,060,859
Recent News

Muscat bourse resumes trading of Galfar shares
Muscat bourse on Wednesday resumed trading of Galfar Engineering and Contracting Company’s shares, after the company posted a detailed disclosure statement on the Muscat Securities Market on its comp

Personal loans of Oman banks register 10% growth
Oman’s conventional banks have posted a robust 10.44 per cent growth in aggregate personal loans, or consumer loan portfolios, which stood at OMR7,680.96 million by the end of June 2016.

T

Seminar spotlights SAP Business One solutions
Infoline LLC, the leading BPO & IT Enabled Service provider in Oman along with their technology partner WMS, recently organised a seminar on SAP Business One solutions at Crowne Plaza Muscat.

Euro-sterling parity is a reality, says HSBC
When UK businessman Paul Frampton bought the spending money for his family vacation to Tuscany this month, he was astonished to be charged almost a pound for each euro he purchased.

“I was f

Doha Bank gets cardholder data security certification
Doha Bank was awarded the PCI-DSS Level 1 certification by the renowned PCI Certification body SISA. PCI is the only standard dedicated to security of cardholder data and rated as one of the most str

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

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?