‘THE LAND’, a Middle East based Real Estate development company operating across the region, had its corporate launch this week with a Gala dinner at the Four Seasons Hotel in Doha. VIP guests on the evening included, representatives from UDC and media from across the region. THE LAND is investing over 2 Billion Qatari Riyals for its first development in the country which will be one of the largest in the Porto Arabia district. The project, to build 7 residential towers at Porto-Arabia, the main marina of The Pearl-Qatar, is already underway with piling almost finished on the first tower.
Salam Said, Managing Director, THE LAND, commented: “We have chosen this time to launch THE LAND as construction has now started on the Porto Arabia site. It is important to us that the project is underway as we take our commitment to clients very seriously. We believe this ethical approach will inspire confidence in THE LAND and attract investors who are cautious about property developers over promising and under delivering.”
With huge natural wealth, owed partly to 900 trillion cubic feet of gas reserves, the Qatari economy is experiencing an unprecedented boom. According to Finance Minister Yousef Hussain Kamal, Qatar’s economy will reach over $60 billion by 2011. The additional wealth, helped by an escalation in oil revenues, has been poured into infrastructure with recent forecasts suggesting that QR120 billion worth of investments will be channelled into the country over the next 5 years for infrastructure improvement. This, together with the oil and gas reserves, has transformed the country, which is now attracting outside investment through residential purchase and the provision of leisure activities and amenities. The government is also keen to promote tourism and has already commissioned the New Doha International Airport which is due for completion by 2015 (first phase in 2009). When fully open, it will allow Doha to handle 50 million air passengers annually.
Salam Said, added:” THE LAND comprises a team of committed and successful businessmen with a focus on identifying the best possible real estate investment opportunities in the Arab world. In our opinion, the Pearl-Qatar represents one of the best, and we are proud to bring such an offering to our investors. Our corporate slogan, ‘breaking new grounds’, is representative of both the project itself, and the unique chance offered to investors to own a piece of prime real estate in the beautiful Porto-Arabia harbour district”.The Gala evening ended with a raffle for present customers of THE LAND to win a Hummer H3 car.