Unrest in Syria Stops Qatari Sovereign Wealth Fund Project
Syria is undergoing domestic unrest and the current regime is heavily cracking down on dissenters. The security situation has made it thorny for foreign developers to continue investment projects. Qatari Diar is the real estate arm of the Qatar Investment Authority. They have temporarily stopped investment projects in Syria until the security situation clears up.
When the security situation improves Qatari Diar will resume real estate development operations in Syria. In the Syrian seaport city of Latakia, Qatari Diar is developing the Ibn Hani Bay Resort project which will cost around US$ 350 million. The luxury real estate project began in January 2010 and it stretches over 244,000 square meters on the Ibn Hani coast.
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