Qatar unveils major real estate project
Sheikh Hamad bin Jassem bin Jabor Al Thani, Qatar's First Deputy Premier and Foreign Minister and Chairman of Qatari Diar, officially launched the Lusail Development project in Qatar.
Speaking at a news conference Tuesday Sheikh Hamad bin Jassem said bids had been invited for the groundwork of the site for future development with bids for services to follow soon. The land plots ready for construction would be handed to investors within between 24 and 30 months, he said.
According to the Peninsula, Sheikh Hamad bin Jassem said that the whole project would be completed by 2010. Situated in the North of Doha, the Lusail Development project, with an estimated budget of $5 billion, will cover over 35 square kilometres and can accommodate up to 200,000 people.