United Development Company (UDC), owners and developers of The Pearl-Qatar, the US $2.5 billion offshore island and the largest real estate development in the country, recently accompanied a delegation from the Singapore government to tour the island development.
Led by the Minister of National Development Mr Mah Bow Tan, the delegation spent a day touring The Pearl-Qatar and leaning about its progress via the director of development Nick Bashkiroff.
Commented the minister: “We have heard so much about The Pearl-Qatar and wanted to get a greater understanding of the project. What we have seen so far has been a stunning success.”
Added Nick Bashkiroff: “It’s extremely gratifying that the reputation of The Pearl-Qatar is spreading, not just here in the Middle East but also further afield. The Singapore delegates were very keen to learn about all aspects of the project including investment opportunities within the retail sector.”
In 2004 total external trade from Singapore exceeded US$580.370 billion, and with a population of just over 4.2 million people, the island state is widely regarded as the dynamic powerhouse of the Asean region.
The Pearl-Qatar is a US $2.5 billion offshore, Riviera-style man-made island, covering 985 acres of reclaimed land. It is Qatar's first international real estate venture, the largest real estate development in the country and the first to offer freehold and residential rights to international investors. It will create over 30 kilometers of new coastline.
The Pearl-Qatar's name and location, on a former pearl diving site, leverages the country's traditions, and strong historical and cultural ties to the sea - it is an island rediscovered.
• The Pearl-Qatar is a multi-cultural residential community which will be a secure and exclusive island retreat bringing the ambience and lifestyle of the Mediterranean to the heart of Arabia.
• The four-phase development comprises 10 distinct districts to be developed over five years, with the first investors expected to take up residency in early 2007. The Riviera Arabia themed districts will house three luxury hotels, three marinas, with combined mooring for over 700 boats, and more than 1.6 million square feet of luxury retail, recreation and restaurant space.
• The Pearl-Qatar is being built 350 meters offshore the West Bay Lagoon area of the country's capital, Doha. While offering an exclusive retreat, the island will also be closely integrated with, and have easy access to, the capital's thriving community.
• The Pearl-Qatar is being developed and promoted by United Development Company (UDC), one of Qatar's leading private sector shareholding companies.
© 2005 Al Bawaba (www.albawaba.com)
