Launch of Qatari Diar heralds new approach to real-estate development

Capitalised at US$ 1 billion, Qatari Diar will be hugely significant in driving property development and investment opportunities in Qatar and the wider region.

Fully owned by the State of Qatar's High Supreme Council for Economic Affairs and Investment, Qatari Diar will facilitate infrastructure and socio-economic development in the wake of Qatar's phenomenal economic growth and will manage the creation and co-ordination of financially sound property development opportunities that will generate sustainable growth for years to come. The company will re-define property investment across the region and around the world.

Built on the principles of sound economics and internationally recognized best practice, Qatari Diar will certainly create real estate propositions that will enhance and enrich the quality of life in every community it serves, generate investment opportunities for sustainable growth and, by aligning development with Qatar's national strategy, further the economic development of the country and the region as a whole.

Founded to support Qatar's rapidly expanding economy, and to provide structure and quality controls to the country's real estate development priorities, Qatari Diar is uniquely positioned to both drive and add value to the booming property investment industry.

Nasser Hassan Al-Ansari, Chief Executive Officer of Qatari Diar is confident that the Company has all that is required to make it a pioneer in the real estate development in the region.

"Qatari Diar has significant advantages including the state-patronized sound investment climate. Although Qatari Diar is owned by the state, it is structured on recognized, best-practice private sector principles that guarantee transparency and efficiency in all aspects of the business. In addition, the Company is managed and staffed by recognized leaders in their fields who are qualified in every aspect of the design, planning, construction and management of real estate developments as well as training local staff,"

Al-Ansari said.

This combination of innovative thinking and effective muscle has already brought dividends. In addition to furthering growth opportunities in Qatar, Qatari Diar is also actively seeking to generate investment opportunities across the region. In recent months, Qatari Diar has announced two significant projects, the first of which is a US$170million luxury tourist resort (230 hectares) on the Hawara Coast in Tangier including a 5-star hotel with all supporting facilities, coastal chalets, exhibitions center, golf club surrounded by state-of-the-art residential units, coastal sports-and-recreation club, restaurants and cafes, in addition to a souq for traditional and cultural handicrafts. The second project is in collaboration with the Omani Government and aims to create an ideal eco-tourist destination (200 hectares) in Sur County's Ras al-Had.

Nasser Al-Ansari said that Qatari Diar will launch the US$5billion Lusail Development, one the largest and most innovative projects in the country in terms of total area, investment cost and philosophy, in the third week of December 2005. He added that the first phase of "Lusail" will start by the end of this year and that the project will aim to build an entire new expansion of Doha, complete with state-of-the-art buildings, services and facilities that will cover a total area of 35 km2 to eventually accommodate 150-200 thousand people.

The timing of the launch of Qatari Diar is significant and comes at a time when the property market in Qatar is experiencing a boom, with recent forecasts suggesting that investments worth billions of Qatari riyals will be channeled into this sector over the next few years. As a Master Developer, Qatari Diar will provide interested local and foreign property developers with opportunities to invest in numerous projects in Qatar and the wider region. In addition, Qatari Diar will provide interested investors with opportunities to invest in numerous financial and real-estate related companies.