Qatari Diar joins forces with Saudi Binladin Group

02 March 2010

Partnership will provide range of construction and industrial services

Doha-based Qatari Diar Real Estate Investment Company (Qatari Diar) has signed a strategic partnership with Jeddah-based Saudi Binladin Group (SBG).

The jointly-owned holding company has signed agreements with Qatar’s Barwa Real Estate Company, Doha-based The First Investor Company (TFI), and Jeddah-based SBG affiliate Construction Products Holding Company (CPC) to provide construction services and supply building materials in Qatar.

Qatari Diar – which operates in 35 countries and holds 50 million square-meters of real estate in its portfolio – formed its first international joint venture with France’s Vinci Construction Grands Projects in 2006.

Qatari Diar took a large equity holding in Vinci in exchange for the transfer of France-based technology firm Cegelec in February this year (MEED 4:2:10). 

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