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FINANCIAL NEWS
Qatar’s Diar to invest USD339m in Montenegro luxury resort
17 Nov 2011
(MENAFN) Qatar’s Diar, the real estate investment company, said that as part of overseas expansion plan, the company would invest USD339 million in a new luxury resort in Montenegro, reported Arabian Business.
The company added that the 24 hectare Adriatic resort, which would include a hotel, villas and apartments, sports facilities in addition to shopping malls, would be redeveloped over the next two and a half years.
It also said that during the first phase, the Qatari company would invest USD56.6 million, adding that the project would boost Montenegro’s tourism sector.
It is worth noting that the project, which would include around 100 hotel rooms, is Diar’s fourth project in Europe.
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