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Evaluation for Qatari investment to individuals

21/07/2010 11:44
The government agreed to assign the evaluation of the property that will pass to the ownership of the Cyprus and Qatar joint venture to individuals.

The evaluation, which will determine Qatar’s investment in Cyprus, was initially to be carried out by authorized valuators of the land registry.

Qatar disagreed with this procedure, stressing that it would not be fair the evaluation to be conducted by state employees.

According to “Phileleftheros” sources confirmed by StockWatch, Qatar has said that it has its own valuators but preferred to appoint independent ones.

In his statements to StockWatch, a Finance Ministry representative said that in the past few days the government is seeking individuals to proceed with the evaluation of the property.

The list that the Minister has on his disposal includes five names of well-known domestic valuators and the government is expected to decide in the next few days.

The Cypriot state will dispose the property to the joint venture with Qatari Diar against an equal investment from Qatar for the construction of a luxury hotel.