Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday, June 2, 2020
Home Investor Centre Qatari investment deal collapses

Qatari investment deal collapses

ACCORDING to media reports, Qatar is quitting its real estate investment plans for Cyprus. It appears that Qatar believed that the investment was too big a risk and it had expressed its discontent with the government concerning other related matters.

Last November we reported that Qatari Diar Real Estate Investment Company and the Cyprus government signed a Memorandum of Agreement to undertake feasibility studies and land evaluation for a new project in Nicosia, Cyprus.

The project was to have been located on 25,000m2 of a prime site in Nicosia and required a financial investment of some €500 million. It would have included a 5-star hotel, luxury residential villas and apartments, retail space and office buildings. It was envisaged that the project would have become a major tourist destination, aimed at sophisticated investors and tourists from around the globe.

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