Sheikh Hamad Bin Nasser Al-Thani, from the Qatar royalty with his Indian partner has expressed interest in investing multi-billion dollars in the `smart cities’ project announced by Prime Minister, Narendra Modi over the coming years.

The focus of the investment will be on ten smart-city projects in the first phase. There is also interest in other areas – power, solar energy, infrastructure development, healthcare and education for investments.

“The partnership between Sheikh Hamad Bin Nasser and Mitesh Sharma, an Indian entrepreneur who has also partnered with us in Doha will be identifying the project areas and Sheikh will be taking decisions over investments”, a release from the Qatar Office said.

The partners recently (November 20-22) met the Chief Minister’s of Andhra Pradesh, N Chandrababu Naidu and Uttar Pradesh, Akhilesh Yadav respectively. They also signed an MOU in AP for a smart city project. An investment of upto $3 billion is needed to develop each smart city.

“We cannot deny the Modi wave in attracting foreign investment, but again as India’s real estate is one of the most profitable sectors, we see a big opportunity to launch our self as a developer in India. The investments will be the Prince’s personal and the Hamad group of companies has experience in various sectors to take up projects”, the release said.

Sheik Hamad Bin Nasser is Chairman, Future Pipe industries and Deputy Chairman, Dalah Brokerage & Investment Holding Co. Mitesh is based in New Delhi, with consultancy services and Managing Director of Al Natroon Trading & Contracting company, Qatar.

comment COMMENT NOW