A multi-billion dollar offshore island and one of the largest real estate developments in Qatar, The Pearl-Qatar is quickly attracting top international and regional retailers who see the dynamic retail potential of The Island.
Hussam Ahmed, General Manager of Retail at The Pearl-Qatar beams with pride and satisfaction as he highlights the significance of the multi-billion dollar development for Qatar and international retailers alike.
"The Pearl-Qatar will provide superb market positioning for retailers to benefit from a unique residential community of some 40,000 people as well as for the many visitors expected every day," he said. "From day one, the advanced conceptual design has showcased the creation of a world-class residential community, a breathtakingly ambitious new wave development and a distinctive, lifestyle-oriented shopping mall with a difference."
"This is one of the most special and unique developments of its kind in the whole Middle East. It symbolizes Qatar's history, and is leading the path to Qatar's future," he added.
The Pearl-Qatar's 'Riviera Arabia' will eventually comprise Porto Arabia, containing the largest of the planned marinas offering investors a choice of residential locations: Apartments, penthouses and town houses surround a lagoon with a 300-room Four Seasons Hotel operating from the central island of Marsa Arabia.
Riviera-style boardwalk will encircle the 400-boat marina in Porto Arabia, one of three planned marinas to characterize The Pearl-Qatar, which, in addition to ample private and public moorage, will also feature water canals, navigable bays and creeks and a world-class yacht club.
"We are already securing the highest percentage of high-brand outlets anywhere in the region, and an increasing number of international operators today see the dynamic retail potential of The Pearl-Qatar," says Ahmed, who is a veteran of the retail sector with wide experience in the Middle East and North Africa.
TPQ attracts global and regional retailers spanning from the U.S., Europe, Asia, and the Arab World, including the most prominent regional retailers.
More importantly, many of the Island's international and specific outlets will be new to the region, showcasing world-class brands covering one million square feet in the first phase retail area of Porto Arabia, expected to be completed in 2008. Overall, The Pearl-Qatar will house over 2 million square feet of retail space when it is completed in 2010.
"The anticipated lifestyle experience within the island's innovative retail landscape will be unequalled to anything previously lived by TPQ's residents, clients and visitors," said Ahmed.
According to Ahmed, the selection and style of restaurants, the grandeur of the architecture for shopping areas, the location of the multiplex cinemas and family entertainment centre, the design of access points to the open arcades, including state-of-the-art climate control systems, are all embedded with advanced design and quality internal fit-outs representing sheer quality and class appropriate to the overarching vision of the mega-project.
"The development of The Pearl-Qatar proceeds according to the master plan, and in 2008, the Island's Waterfront retail district of Porto Arabia will showcase the world's finest brands in one of the world's most fashionable and high-end shopping destinations," concluded Ahmed.
The Pearl-Qatar is the largest island in Qatar's waters. During the two-year land reclamation process, four million square meters of new land were created with a 32-kilometer shoreline, three coves, and navigable canals in addition to numerous other features.
A gem in the Arabian Gulf, The Pearl-Qatar is the country's first international real estate venture, and will be home to approximately 40,000 residents in more than 15,000 dwellings within 11 inspiring precincts by 2010.
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The Pearl-Qatar fast becoming world-class retail destination
- Qatar: Sunday, July 08 - 2007 at 11:51
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With its array of unrivalled facilities benchmarked by the very best in the world, The Pearl-Qatar is on track to becoming one of the Middle East's most fashionable and sophisticated locations for international retailers.
Hussam Ahmed, General Manager of Retail at The Pearl-Qatar.
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Posted by Lara Lynn Golden, News EditorSunday, July 08 - 2007 at 11:51 UAE local time (GMT+4)
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ABOUT THE PEARL-QATAR
The Pearl-Qatar is a multi-billion dollar offshore, Riviera-style man-made island, covering 985 acres of reclaimed land. It is Qatar's first international real estate venture, one of the largest real estate developments in the country and the first to offer freehold and residential rights to international investors. It will create over 30 kilometres of new coastline.
The Pearl-Qatar will eventually house 40,000 residents in an up-scale, 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 12 distinct districts to be developed over five years. The Riviera Arabia themed districts will house three luxury hotels, three marinas, with combined mooring for over 800 boats, and more than 2 million square feet of luxury retail, recreation and restaurant space.
Built 350 meters offshore the West Bay Lagoon area of the country's capital, Doha, the Island will offer an exclusive retreat with 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.
ABOUT UNITED DEVELOPMENT COMPANY (UDC)
United Development Company (UDC) is one of the country's leading public shareholding companies. UDC's mission is to identify and invest in long-term projects contributing to Qatar's growth and providing good shareholder value. The company was established in 1999 and has an authorized share capital of QR 1.072 billion (US $294 million), was listed on the Doha Securities Market in June 2003, and is a Gulf Business Top 100 company.
UDC's target areas of interest include: infrastructure, energy-intensive industries, downstream hydrocarbons, real estate, construction and environment-related businesses. UDC established the Qatar Dredging Company (QDC), a joint venture with the State of Qatar and Belgium's Dredging, Environmental & Marine Engineering NV, and formed Qatar Cool, a district cooling company, in partnership with Tabreed of the United Arab Emirates. UDC also partnered with Seef Limited, a joint venture with Qatar Petroleum, to develop a plant to produce linear alkyl benzene (LAB), which is the main feedstock for detergent manufacture. The plant started operations in 2006 with a production capacity of 100,000 tons a year. UDC has also invested in the Gulf Formaldehyde Company as a joint venture partner with Qatar Fertiliser Company (QAFCO) and other Qatari investors. Operations began in 2004.
In November 2005, United Development Company entered into a new joint venture with BESIX NV of Belgium to establish a ready-mix concrete facility, with shareholding split between UDC (32%) and BESIX NV (49%). The remaining shares were acquired by local Qatari investors. Production began in June 2006. On May 31, 2006 UDC entered into a partnership with a Turkish biological wastewater treatment company (Millenya Inc.). Under the terms of this partnership, UDC acquired 60% of Millenya's equity.
United Development Company's latest business partnership was signed on November 28, 2006 when the company concluded a joint venture agreement with Spain's Ronautica S.A. The agreement will see the establishment of Ronautica-Middle East, a Marina Operations and Management Company. UDC will hold a 60 percent stake while Ronautica S.A. will hold the remaining 40 percent in the new firm.
UDC's founders, who at launch held 45% of the shares, are among Qatar's most successful investors and developers. A large number of Qatari and GCC investors are shareholders in UDC.
The Pearl-Qatar is a multi-billion dollar offshore, Riviera-style man-made island, covering 985 acres of reclaimed land. It is Qatar's first international real estate venture, one of the largest real estate developments in the country and the first to offer freehold and residential rights to international investors. It will create over 30 kilometres of new coastline.
The Pearl-Qatar will eventually house 40,000 residents in an up-scale, 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 12 distinct districts to be developed over five years. The Riviera Arabia themed districts will house three luxury hotels, three marinas, with combined mooring for over 800 boats, and more than 2 million square feet of luxury retail, recreation and restaurant space.
Built 350 meters offshore the West Bay Lagoon area of the country's capital, Doha, the Island will offer an exclusive retreat with 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.
ABOUT UNITED DEVELOPMENT COMPANY (UDC)
United Development Company (UDC) is one of the country's leading public shareholding companies. UDC's mission is to identify and invest in long-term projects contributing to Qatar's growth and providing good shareholder value. The company was established in 1999 and has an authorized share capital of QR 1.072 billion (US $294 million), was listed on the Doha Securities Market in June 2003, and is a Gulf Business Top 100 company.
UDC's target areas of interest include: infrastructure, energy-intensive industries, downstream hydrocarbons, real estate, construction and environment-related businesses. UDC established the Qatar Dredging Company (QDC), a joint venture with the State of Qatar and Belgium's Dredging, Environmental & Marine Engineering NV, and formed Qatar Cool, a district cooling company, in partnership with Tabreed of the United Arab Emirates. UDC also partnered with Seef Limited, a joint venture with Qatar Petroleum, to develop a plant to produce linear alkyl benzene (LAB), which is the main feedstock for detergent manufacture. The plant started operations in 2006 with a production capacity of 100,000 tons a year. UDC has also invested in the Gulf Formaldehyde Company as a joint venture partner with Qatar Fertiliser Company (QAFCO) and other Qatari investors. Operations began in 2004.
In November 2005, United Development Company entered into a new joint venture with BESIX NV of Belgium to establish a ready-mix concrete facility, with shareholding split between UDC (32%) and BESIX NV (49%). The remaining shares were acquired by local Qatari investors. Production began in June 2006. On May 31, 2006 UDC entered into a partnership with a Turkish biological wastewater treatment company (Millenya Inc.). Under the terms of this partnership, UDC acquired 60% of Millenya's equity.
United Development Company's latest business partnership was signed on November 28, 2006 when the company concluded a joint venture agreement with Spain's Ronautica S.A. The agreement will see the establishment of Ronautica-Middle East, a Marina Operations and Management Company. UDC will hold a 60 percent stake while Ronautica S.A. will hold the remaining 40 percent in the new firm.
UDC's founders, who at launch held 45% of the shares, are among Qatar's most successful investors and developers. A large number of Qatari and GCC investors are shareholders in UDC.
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