Pearl-Qatar at MAPIC
Delegates and visitors to MAPIC, the international market for real estate development, held in Cannes (November 15-18), got a glimpse of the exciting retail real estate opportunities on offer at The Pearl-Qatar. According to the Peninsula, the $2.5bn offshore residential island project in Qatar continues to advance on all fronts - reclamation, construction and sales - with the target of early 2007 for the first residents to move in.
The Pearl-Qatar is the first development in the region to offer 100 per cent foreign ownership of land in the development. Each purchase on the development is freehold whether a tower block or a luxurious villa. Khalil Sholy, managing director of United Development Company (UDC) owner and developer of the The Pearl-Qatar said: "We have completed reclamation of just over half the final land area in August - totally on schedule. Full reclamation is set for July 2006. Major piling has already begun; and in the coming months we'll see work on essential services and infrastructure.'"