Qatari Diar, a Middle Eastern real estate investment firm, has announced its first international joint venture with Vinci Construction Grands Projets (VCGP), a France-based company formed out of the merger between Campenon Bernard and Dumez.

It will sign a memorandum of understanding with VCGP to set up a major contracting player with local, regional and international ambitions.
According to the company, Qatari Diar will hold a 51 per cent stake in the joint venture with VCGP retaining the remaining 49 per cent.
“This joint venture will support development in Qatar and establish high benchmarks for the construction industry. The focus will initially be on Qatar, but we plan to leverage the calibre of quality delivery to secure international tenders,” said Qatari Diar chief executive officer Nasser Hassan Al Ansari.