What is The Pearl-Qatar?
This is a US multi billion man-made island covering 985 acres (400 hectares) of reclaimed land offshore the Arabian Peninsula state of Qatar - the Arab world's wealthiest per capita country. The Pearl-Qatar is the country's first international real estate venture, its largest real estate development and the first to offer international investors freehold. It is a four-phase mixed-use development comprising 10 distinct, themed districts to be developed over five years housing beachfront villas, elegant town homes, luxury apartments, exclusive penthouses, 5 star hotels, marinas, schools as well as upscale retail and restaurant offerings. It will be a destination in its own right - a lavish, secure and exclusive island retreat with a Riviera-style community.
Where in Qatar is the project?
It is being built offshore eastern Qatar, immediately east of the West Bay shoreline. The Pearl-Qatar will be approximately 20 kilometres north of the central business district of the Qatari capital, Doha. The island will be just 20 kilometres from Doha International Airport in the south. The island has been positioned with the greatest respect for the marine environment and topography.
Who is the developer?
The project developer is United Development Company (UDC), Qatar's largest private sector shareholding company with a mission to identify and invest in long-term projects that contribute to the country's growth and provide good shareholder value. UDC's founders, who on launch in 1999 held 45% of the shares, are among Qatar's most successful investors and developers. Equity is also held by a large number of other Qatari and regional investors.
What is the rationale behind the project?
UDC intends to make The Pearl-Qatar a unique living and cultural experience that integrates the best of the country's past and present. A primary objective is to incorporate a diversity of high quality living environments - from high-end luxurious villa living with private sandy beaches to fashionable apartment-style accommodation with sweeping sea views. Diversity and quality of accommodation is a key objective in the project's master planning.
The Pearl-Qatar will be a secure, family oriented environment. It will be like no other destination in the Middle East. Modeled on the best of the Mediterranean, it will be the Arabian Riviera (Riviera Arabia) and will offer a lifestyle reminiscent of France and Italy in the heart of the Arabian Gulf. The Pearl-Qatar, with 40 kilometres of reclaimed coastline and 20 kilometres of pristine beaches, will be a tourist destination in its own right.
Is Qatar ready for a development of this nature?
As Qatar has joined the ranks of the world's wealthiest and most advanced nations, it naturally seeks to develop its resources and build world-class environments. The people of Qatar deserve nothing less than the finest developments which give expression to their rich cultural heritage and national destiny. The Pearl-Qatar will live up to these expectations reflecting Qatari cultural values and economic strength while being sensitive to environmental stewardship.
Why was the name The Pearl-Qatar chosen?
Both the island's name and location, on the site of a former pearl diving site, leverage the country's strong cultural ties with the sea. This is an island rediscovered. The name pays homage to the previous mainstay of the economy - pearl fishing. Although pearling is no longer a key economic driver, it left a legacy of skills, stories, music, art and poetry that is a source of identity and pride for Qatari's today.
When will the project be complete?
Construction is in four phases with a target completion date end of 2011.
Will the island be linked to the main land?
Yes, a causeway will be constructed. Though The Pearl-Qatar will be an exclusive retreat, the causeway will ensure the island is closely integrated with, and has easy access to, the capital, Doha's, thriving community.
Is investment restricted to Qataris only and are there any conditions applied to ownership?
The project is open to investors both from within Qatar and overseas. This is the first project in Qatar to offer freehold residential rights to the international community.
Are mortgages available to local and international investors and, if so, through which financial partners?
Mortgages are available for up to 25 years and up to 85% of the total purchase price could be financed.
What are the terms of sale?
Initially a deposit of 20% is required upon reservation. The remaining 80% is due upon completion.
How many residences will be on the island and how many people will eventually reside on The Pearl-Qatar?
When fully developed the island will house around 16,000 luxury villas, town homes , penthouses and apartments which will, in total, be home to up to 41,000 residents. Exclusive luxury villas will be located in clusters, around the island's perimeter, with private beaches and stunning sea views. Also planned are medium-sized private, luxury villas and fashionable apartments, again with breathtaking sea views.
When will the first investors take up residency?
December 2008.
How many hotels will there be on the island?
Current plans are for three five-star hotels with a total room capacity of 800.
How many marinas will there be and what is their capacity?
In total there will be three marinas with mooring for 1004 boats. Extensive private and public moorage is planned and the island will have canals, lakes and interior navigable coves. The island will host a yacht club of world-class standing to cater to the international, regional and local yachting community
What is the retail capacity of the project?
The total retail space is 2 milllion square meters of retail, leisure and restaurant space, which will be targeted at the top end of the market.
What community facilities will there be on the island?
Locations have been identified for three primary schools and a secondary school. In addition, there will be several kindergarten and day care centres. The island will have several public parks and accessible open spaces.
What will set The Pearl-Qatar apart from other real estate ventures in the Arabian Gulf?
|
1 comments:
The project u r speaking about is one of the most "incredible" man made island in the worldwide.I have been to Qatar last month,and have visited the "Oyestr"-the Marketing & Sales Centre of the project,a magnificent oyster shape like building that add to the unprecedented project of its kind.I think the most luckiest people will live there.It is the true paradise.
Post a Comment