Qatari Diar launches Qatar's single biggest development

Covering over 35 square kilometers, accommodating up to 200,000 people and with an estimated budget of $5 billion, Lusail is one of the largest developments in the region. Situated in the North of Doha, this breathtaking city expansion will transform the existing raw tidal flats north of the Ritz-Carlton Hotel and dramatically change the economic and physical profile of Qatar for the better.

In his address at the Launch Event held at the Ritz-Carlton in Doha, Nasser Hassan Al Ansari, CEO of Qatari Diar, confirmed the significance of the Lusail Development for Qatar and the region as a whole.

"The launch of Lusail is a major milestone in Qatar's development. It will generate significant economic diversification which in turn will create great opportunities for our nation and the wider region."

Mr. Al Ansari, is proud of the effective blend of financial acumen, environmentally friendly development policies and social responsibility that Lusail Development represents. "Lusail will be a unique, vibrant development, master-planned to complement and support other developments in Qatar and promote the sustained growth of our nation," he said.

Lusail Development will include a large blue water lagoon with two marinas, major residential areas providing quality, high and low density housing to meet all needs, extensive commercial districts and mixed-use areas, comprehensive leisure and entertainment facilities including two golf courses and an entertainment district, naturally functional silt-free beaches as well as all the necessary social amenities such as mosques, parks, schools, shopping centres and medical centres.

Mr. Al Ansari explained the thinking behind the development. "The whole development, by encouraging inbound investment and providing world class living and working environments, will stimulate the local economy. It has been a collaborative process and is a prime example of what can be achieved through effective partnerships across the private and public sectors."

Contracts for the implementation of the necessary infrastructure have already been awarded and on site work on Lusail is due to start by early 2006. Conceived as a phased development, the Lusail project has been carefully planned around the concept of Districts in order to provide enhanced, state of the art living and working environments that celebrate traditional Qatari and Islamic architecture and foster community values.

The commercial districts have been designed to provide a comprehensive range of appropriate premises for major multi-nationals as well as local entrepreneurs and small to medium enterprises with an architectural character suitable for a new urban community such as pedestrian-friendly streets, parks, shaded areas, restaurants, shops and easy access to transport facilities.

Lusail Development has been conceptualized and planned down to the last detail by recognized leaders in their fields who are qualified in every aspect of the design, planning, construction and management of real estate developments. It will appeal to investors from Qatar and the international community who are interested in property opportunities that will, in addition to world-class design, benefit from best practice professional management that will ensure that the integrity, value and viability of their investment is maintained over the long term.

The first phase of the development, The Marina District, a high density mixed-use area comprising residential towers, attractive waterfront features and community amenities, will be open for sales enquiries immediately on the launch of Lusail.

The launch of the Lusail Development comes at a time when the property market in Qatar is experiencing a boom, with recent forecasts suggesting that billions of US dollars worth of investments will be channeled into the country over the next eight years.