regional overview 10
One of the country’s most renowned mega projects is The Pearl-Qatar,
an artificial island spanning nearly four million square metres with over
32 kilometres of new coastline
Also under construction is Al Wa’ab City, by Nasser Bin Khaled
and Sons Group (NBKS) and Al Wa’ab Development Company.
Covering a total of 1.4 million square metres, the US$3.2 billion
project will contain several hundred villas and apartments,
88,000 square metres of retail space and a 300-room hotel.
The project is expected to be completed in Q4 2010.
One of the country’s most renowned mega projects is The
Pearl-Qatar, an artificial island spanning nearly four million
square metres with over 32 kilometres of new coastline. The
island’s master developer is United Development Company, while
sub-developers are undertaking individual projects. The Land
Development Company is developing a US$550 million complex
of seven 20-storey residential towers in the Porto Arabia area;
each tower will cover a built up area of 67,700 square metres,
with associated entertainment facilities. Al-Darwish United
Real Estate Investment Co is also developing the US$100 million
United Tower, which is due for completion this year.
Meanwhile, Qatari developer BARWA is undertaking a number of
projects in the country. Khalid Al Delaimi, president of development,
says that, so far, all of the company’s projects are on track: “We are
delighted to announce that all BARWA projects remain on schedule
for completion as originally stated. The first phase of BARWA
Housing Program is complete and was handed over as scheduled in
February 2009, while the first phase of BARWA Al Baraha, BARWA
Al Baraha Truck Park, was recently inaugurated.
Above: The Pearl Qatar
Qatar “Certainly BARWA is not stepping back from its commitm ents.
In Doha, the US$5.5 billion Lusail project is being developed by Our local projects are being executed as planned. To cater for
Qatari Diar. The project will have 18 different districts with a capacity our strategic expansion plans, BARWA is currently increasing its
for 200,000 people. The scope of work includes hotels, villas, human resources. Neither reducing our work force nor cutting back
apartments, more than 300,000 square metres of retail space on our project plans are being considered at this time.”
along 8.5 kilometres of shoreline, a large lagoon with two marinas,
leisure and entertainment facilities, two golf courses, 22 schools, Al Delaimi believes that the country’s real estate strategy is well
parks, mosques, medical facilities, entertainment facilities, and a light prepared to cope with the downturn: “Let’s be honest, the region
railway rail service which will be linked to the New Doha Rail Network. is experiencing signs of slowdown – something which several
In February 2009 it was announced that the main contract for countries within the region didn’t plan for. Yet Qatar is able to digest
infrastructure packages five and six will be awarded this year. the crisis, and it is strategically planning for alternative solutions to
cope with the situation. Development in Qatar, while growing at an
Work is underway on Qatar Entertainment City, a US$3 billion incredible rate, has been controlled wisely by the government and
project within the Lusail development, by Majid Al Futtaim Group leading developers such as BARWA and Qatari Diar.”
of Companies, Qatari Diar Real Estate Investment Company
and Abu Dhabi Investment House (ADIH). The project involves There is high demand for luxury property in Qatar, according
the construction of a variety of leisure facilities and resorts for to Al Delaimi: “While luxury property development in many
individuals and families, including park rides, four five-star hotels – countries is dependent on international investors, many of
each with a capacity of 300 to 400 rooms – as well as restaurants, whom have been affected by the financial crisis, in Qatar it is the
gardens, theme parks and theatres. The scheme covers an area of Qatari nationals and high-end expatriates who are the major
one million square metres and will accommodate around 50,000 buyers in developments such as The Pearl-Qatar. Qatar is rapidly
people. It is scheduled to be completed in 2013. becoming the hotspot for luxury property in the Middle East.”
PREVIEW Cityscape Dubai
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