Qatari Diar Real Estate Investment Company, a leader in sustainable real estate development, has announced the launch of a separate company for development, construction and ongoing operations of its flagship Lusail project.

The Lusail development project is one of the largest and most elaborate developments being undertaken around the world, over a substantial area of 35 sq kilometres.

Lusail Real Estate Development Company will be operated separately from Qatari Diar, said a company official.

The creation of the new company will facilitate dedicated relationships with Lusail's primary stakeholders including the investors and development partners in Lusail, said Qatari Diar CEO Ghanim bin Saad Al Saad.

Mohammed Bin Ali Al Hedfa has been named its chief executive officer, who will report to Saad Al Saad.

Al Hedfa said the Lusail Real Estate Development Company would personalise Qatari Diar's relationships with its current primary stakeholders.

'We will offer the investors and developers of Lusail a wide array of services to meet their development and construction goals,' he noted.

'Its sole purpose being to focus on Lusail - its development, construction, and ongoing operations as a municipality'.

Lusail project will encompass not only new residential, commercial, and retail opportunities, but a full array of community needs for approximately 200,000 people, complete with schools, hospitals, entertainment and gathering centres.-TradeArabia News Service