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
Most Viewed Companies
Ticker Price Volume
EMAAR 9.7 5,267,368
RIBL 19.1 5,134,816
ARTC 4.05 93,976,309
MMG 12.55
ZAIN 640 374,689
SAPTCO 38.52 625,023
SABIC 128.58 6,335,372
Recent News

SAMA net foreign assets reach SR2.737 trillion
The Kingdom’s M3 money supply growth edged up to 12.3 percent year-on-year in June from a five-month low of 12.1 percent in the previous month, Saudi Arabian Monetary Agency (SAMA) data showed.

GCC projects underpin sustainable development
Driven by higher capital expenditure, GCC countries will see projects underpin their sustainable development and diversification, a new report has shown.

According to QNB, GCC countries ha

Dubai industrial rents up in first half
Enquiries for industrial property in Dubai were significantly stronger in first half of 2014, compared to six months earlier.

However, due to the limited availability of stock, leasing de

Arabtec Q2 net profit up 11pc
Arabtec, the construction company at the centre of Dubai’s stock market turmoil, reported an 11 percent rise in second-quarter profit yesterday, missing analysts’ estimates.

Net profit cli

Saudi water membrane facility project awarded
The Dow Chemical Company has awarded Fluor Corporation the engineering, procurement and construction (EPC) contract for its Reverse Osmosis (RO) manufacturing facility in Saudi Arabia.

Lo

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?