State Minister Elsimaih Elsideeg Alnur delivers a speech to potential investors at the Dubai Forum.

The $4 billion Almogran project is located at the confluence of the Blue and White Nile Rivers.

ARAB investment is a key target for Sudan, so Dubai was a natural choice of venue for the inaugural event of the Sudan Development Program (SDP).

More than 70 Sudanese businesses were represented at the forum, at which foreign companies could meet Sudanese firms and make direct contact with government officials.

After the event, State Minister of Investment Elsimaih Elsideeg Alnur said, “This has helped a lot in creating awareness of Sudan’s investment potential. Many of the companies we talked to are very serious about entering the Sudanese market. Indeed, many signed memoranda of understanding with Sudanese companies and federal states.”

Funded by the government, the aim of the SDP is to raise the economic profile of Sudan and promote investment projects in all sectors of the economy. The Dubai summit will be the first of a series of such events.

The program is endorsed and supported by the World Bank, which last year opened its Sudan office for the first time in 30 years.

Christopher Higgins, the Managing Director of the SDP, has been affiliated with Sudan for more than 20 years. He says that current times are the most optimistic he has witnessed, urging potential investors to visit and see first-hand.

“Sudan is a very good place to look to for joint ventures and all aspects of business. It is a hugely promising, undiscovered treasure of Africa.“

The optimism from the business community is unprecedented, says Mr. Higgins. “There is no doubt that this is the place to be. The country is moving forward. You can see this around Khartoum, where buildings are going up all over the place.”

Since the signing of the CPA, Khartoum has become a magnet for investors and financiers, and is about to get a new 21st century look.

A new high-rise, hi-tech business and residential district is to be built where the Blue and White Niles meet. The $4billion Almogran project will change the face of the city, and give it new status as a focal point in the East African market.

The huge project is a joint venture involving the DAL Group, a leading Sudanese conglomerate, Khartoum State, and the National Social Insurance Fund culminating in the Alsunut Development Company. Construction will be carried out in two phases over eight years.

Phase one, a 160-acre state-of-the-art central business district, is already under way, and expected to be completed within five years. Phase two will add a 1,420-acre residential and leisure estate, complete with an 18-hole golf course.

Hani H. El Khidir, Managing Director of Alsunut Development Company, says there has been an excellent response to the scheme so far. “The existing sales and the people who have shown interest have exceeded our expectations. Most of the investors so far are from the Middle East.”