Browse
related articles
Centrally located in the Arabian Gulf, the peninsula state of Qatar, with 900 trillion cubic feet, controls five percent of the world's proven natural gas reserves. It is the richest Arab nation with a per capita income of US $34,000 per annum. Eighty percent of the Qatari population, which is now approaching one million, is based in and around the capital, Doha.
For potential investors in this lucrative market, The Pearl-Qatar is the first development in the region to take the bold step of offering 100 per cent foreign ownership of land in the development.
The Pearl-Qatar is a unique, true freehold investment opportunity in a safe, relaxed and luxurious environment. This is the Middle East's most glamorous address where Pearlesque names, crafted from an intriguing mix of Italian, French, Spanish and Arabic, summon up the charm of the old world, and the spirit of the new.
Each purchase on the development is freehold whether a tower block or a luxurious villa. By agreement with the Government of Qatar, this freehold grants the total property rights to the buyer.
The buyer also benefits from a 'perpetual visa' allowing them the right to reside in the property or to visit it at any time.
Khalil Sholy, managing director of United Development Company (UDC) owner and developer of the The Pearl-Qatar said:
"We have completed reclamation of just over half the final land area in August - totally on schedule. Full reclamation is set for July 2006. Major piling has already begun; and in the coming months we'll see work on essential services and infrastructure.'"
When completed, The Pearl-Qatar will house more than 35,000 residents in an upscale, multicultural community. "We're building a real, thriving community - complete with schools, healthcare facilities, shopping and entertainment. And we have even set up a network of water taxis linking the West Bay business area. It's a great way to travel to work - certainly beats the traffic jams!"
There are substantial and flexible mortgage offerings. Mortgages are available for up to 85 percent of the cost price of each property - and for a generous repayment period of 25 years, if necessary. Two of the Gulf's leading banks, Commercial Bank of Qatar and Qatar National Bank now work hand in hand to meet all purchaser requirements.
The entire island will be managed, serviced and maintained by the developer in perpetuity and is a vital part of the agreement with every buyer.
Continued Sholy: "Our two initial villa releases on the southern waterfront have sold out. We have also released a further series of 145 luxury villas. Sales interest has been fantastic and we predict that these will all be sold out very soon. On the retail side we have recently signed an agreement with the Alshaya Group the region's leading retailer which represents such global brands as Starbucks, Debenhams, Next, Mothercare and Estee Lauder. It's an exciting time for us and for the region."
Posted by Lara Lynn Golden, News Editor
