Qatari Diar, the state-owned property developer, is to forge a joint venture with Saudi Binladin Group, one of the Gulf’s largest construction conglomerates, as it embarks on billions of dollars worth of projects around the world.

The move comes one month after Qatari Diar became the largest shareholder in Vinci Construction Grands Projets of France when it exchanged Cegelec, a technical solutions firm, for 31.5 million shares.

The National