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FINANCIAL NEWS
Qatar Holding to set tourism project in Sardenia: Report
02 Feb 2013
(MENAFN) Qatar Holding is planning to invest as much as USD1.35 billion in Sardinia’s tourism sector, news service ASNAmed reported.
Alberto Ragnedda, a myor of Sardinian town Arzachena that the investment vehicle of Qatar’s sovereign wealth fund, Qatar Investment Authority (QIA), will build four luxury hotels on Sardinia’s Costa Smeralda, the news service said.
The plan includes a 150-room Harrods Hotel, a 200-room family hotel, both for the luxury market, and 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.
Last year, Qatar Holding signed an agreement to acquire Smeralda Holding, owner of luxury hotel resorts on Costa Smeralda in Sardinia, from US-based Colony Capital.
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