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
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 127 470,450
ETISALAT 17.15 1,265,926
GFH 0.6
MMG 0
EMIRATESNBD 8 953,900
DAMAC 3.04 4,480,836
MAADEN 48.95 8,961,398
Recent News

Maaden announces new Vice Chairman
The Saudi Arabian Mining Company (Maaden) announces the Board of Directors decision on June 21, 2017 of appointing H.E. Sulaiman Bin Abdulrahman Al-Gwaiz (non-executive member) as the Vice Chairman f

QNB sees minimal impact from standoff
Qatar National Bank said it expects to meet its earnings targets as the ongoing Saudi-led campaign to ‘isolate’ the country has minimal impact on its operations.

The Middle East’s largest le

Egypt seeks FDI boost as its economy struggles
Egypt’s investment ministry has finalised a much-anticipated set of regulations outlining incentives that it hopes will lure back badly needed foreign investors, Investment Minister Sahar Nasr told R

Qatar bourse says Gulf institutions dumped Qatari shares
The Qatar Stock Exchange on Wednesday said it believed some institutional investors from Saudi Arabia, the UAE and Bahrain dumped shares to drive down the Qatari stock market in the wake of the diplo

UAE banks clear $175bn cheques in 5 months
A total of 12.922 million cheques worth Dh643.7 billion ($175 billion) were handled by the UAE Clearing Cheque System during the first five months of 2017, according to the UAE Central Bank data.

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?