Istanbul: Qatari Diar, and the Turkish Ministry of Environment and Urban Planning, have laid the foundation stone for a project to redevelop the historic Sulaymaniyah district in the Turkish city of Istanbul.
Eng. Abdullah bin Hamad Al Attiyah, CEO of Qatari Diar and Minister of Environment and Urban Planning of Turkey Murad Koroum laid the foundation stone in the presence of the Mayor of Istanbul and a number of dignitaries.
The project, owned by Qatari Diar, has a total area of 102,000 square meters in the center of Istanbul’s historic area. It is comprised of residential and commercial buildings, hotels, roads and pedestrian areas, parking lots and re-development of archaeological and heritage sites such as mosques, wells, fountains and more. The cost of investment of the project is approximately QR3.1bn.
The project is designed to be a cultural turning point for the Sulaymaniyah area within the framework of a clear strategy that preserves the heritage nature of the area by developing a modern city in a historic area to be a shining sign reflecting the civilized face of Istanbul.
It is planned that the project will be completed by the end of 2023. The project development work plan, consultancy studies, preparation of the master plan and the approval of government agencies have been completed. and the engineering work has been initiated.
Qatari Diar Real Estate Investment Company was established in 2005 as a member of the Qatar Investment Authority (QIA) to support the growing Qatari economy and implement real estate development projects inside and outside Qatar. Qatari Diar has a capital of $8bn, with more than 60 projects under development in Qatar and 24 countries around the world, with investments estimated at more than $35bn.
