RSSThe $2.5 billion “Pearl of the Gulf” project, Qatar’s first real estate venture offering freehold properties to international investors, is to be launched soon. Located on a 400-hectare man-made island, the Pearl of the Gulf project is an example of the country’s rapid transformation.
The island will house 30,000 residents, with expatriates being granted freehold ownership and residential rights in some 7,500 high-quality residential units. The development will have 10 distinctly designed and inter-related themed districts during the next five years, with the first residents scheduled to occupy their properties by the beginning of the fourth quarter of 2006.
The island is being built 350 metres offshore, close to the West Bay Lagoon area of Doha, and will accommodate three large bays that will maximize the available water and beach frontage, in addition to four marinas providing mooring for more than 700 yachts.
The development will also have a minimum of three luxury themed hotels, offering some 900 rooms between them, and provide 60,000 square metres of retail and restaurant space.
The 10 themed residential districts of the Pearl of the Gulf include a variety of exclusive villas and stylish townhouses, in addition to quality apartments and luxurious penthouses in residential towers. The island aims to represent a link between Qatar’s pearl diving heritage and the world’s latest modern architectural designs, facilities and lifestyles.
The project’s facilities will include shopping, entertainment and recreational areas, schools, community centres and parks, blending the past and the present in a way that will provide inspiration and aspiration for residents and visitors alike, and establish an island city within a city concept.
The location of the island has been carefully selected with the greatest respect to the marine environment and topography of the area in order to achieve both environmental integrity and construction practicality.
The Pearl of the Gulf has been designed to include all the latest facilities and services in an exclusive island retreat. It will become a peaceful haven offering a lush environment where families can live in secure harmony. The properties are available for anyone willing to buy or invest, private home-owners, institutions and corporate investors.
