Qatari Diar Real Estate Investment Company has signed an agreement with Germany’s Hochtief to form a joint venture to provide construction services on Qatari Diar projects.
Qatari Diar is building the Lusail development in Qatar, a 35-square-kilometre masterplanned community that will accommodate 200,000 people. It also has projects in Yemen, Seychelles, Mauritania, Morocco, Oman and Egypt.
In 2006, Qatari Diar formed a similar joint venture with France’s Vinci Construction Grand Projects.
Vinci and Hochtief are also part of the consortium that was awarded the construction contract for the Qatar Bahrain Causeway in May (MEED 11:5:08).
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