Negotiations with Qatar on joint venture with Cyprus to continue in Doha

Discussions over a proposed joint venture between the Republic of Cyprus and Qatar will continue on November 28, in Doha, the Finance Minister Charilaos Stavrakis announced today.

Stavrakis was speaking after a meeting here with the Group CEO and a delegation from the Real Estate Investment Company of Qatar “Qatari Diar”.

The Minister said that the two sides had a very constructive and useful meeting and added that they are committed to going along with this joint venture between the two governments.

“We have discussed the kind of project we want to build and it seems that there is agreement that it has to be a very high quality project, comprising a luxury hotel and real estate development with retail, residential and office developments” Stavrakis added.

The Minister said that the evaluation of the plot’s value has also been discussed during the meeting and added that the discussion will continue during the second round of talks in Doha, on November 28.

The Group CEO of “Qatari Diar”, speaking to the press, mentioned that his side is fully committed to making this project viable.

He added that they discussed the components of the project and agreed on the high quality of the development.

“We will continue our discussion for the evaluation and the finalization of the project,” the Group CEO said.

He concluded by saying that it will be his honour to host his Cypriot counterparts in Doha, in order to proceed with the negotiations.