Qatar Insurance Company to build residential tower
Qatar Insurance Company (QIC) is planning to build a storey in residential towers that surround Porto Arabia, the main marina of the Pearl-Qatar. QIC has bought one plot in the fourth and final release of tower properties, and will develop the 150-apartment tower in accordance with guidelines set down by the island's developer and promoter, United Development Company (UDC), a press release said Saturday.
The deal was signed by Sheikh Hamad bin Faisal Al Thani, member of the board and QIC's investment committee, and Khalil Al Sholy, UDC'S managing director and member of the board.
The Tuscan-style tower to be built by QIC is one of six architectural styles - Monaco, Tuscan, Provencal, Florentine, Catalan and Andalusian - conceived to reflect the Pearl-Qatar's Riviera Arabia positioning.
The tower will also feature a five-star lobby, state-of-the-art health club, swimming pool and four-floor parking facility.
Qatar Insurance Company is the country's oldest national insurer; it is second oldest within the entire Gulf region.