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.
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Singapore government tour The Pearl-Qatar
- United Arab Emirates: Thursday, December 22 - 2005 at 08:34
- PRESS RELEASE
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United Development Company (UDC), owners and developers of The Pearl-Qatar, the USD2.5 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.
Singapore delegation at a Pearl Qatar presentation during recent visit to Doha
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Posted by Anne-Birte Stensgaard, Senior News EditorThursday, December 22 - 2005 at 08:34 UAE local time (GMT+4)
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This article was updated on Tue Dec 27 2005.
Notes and Media Contacts »
ABOUT THE PEARL-QATAR:
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.
ABOUT UNITED DEVELOPMENT COMPANY (UDC)
The Pearl-Qatar's developer, UDC, is one of the country's leading private sector shareholding companies with a mission 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 825 million (US $227 million), was listed on the Doha Securities Market in June 2003, and is a Gulf Business Top 100 company.
ABOUT THE STATE OF QATAR:
Qatar has strong historical and cultural ties to the sea. Pearl fishing was the traditional mainstay of the economy until oil and gas took over around 50 years ago. Although pearling is no longer a key economic driver, it has left a legacy of skills, stories, music, art and poetry that is a source of identity and pride for Qataris today.
Qatar has growing inbound tourism ambitions with The Qatar Tourism Authority this year targeting arrivals of 1.25 million tourists and the Doha International Airport undergoing huge expansion to cope with the anticipated increase in passenger traffic. When completed in 2015, the airport will handle around 50 million passengers a year.
The Qatari government has a pro-business stance on foreign investment and is encouraging the growth of the country's private sector, stimulating progress with an active privatisation programme.
For media information, please contact:
Nathalie Visele
Director
Shamal Marketing Communications (SMC) FZE
PO Box 24459
Suite 712
The Fairmont
Sheikh Zayed Road
Dubai
United Arab Emirates
Tel.: +971 50 4576525
Fax: +971 4 3124313
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.
ABOUT UNITED DEVELOPMENT COMPANY (UDC)
The Pearl-Qatar's developer, UDC, is one of the country's leading private sector shareholding companies with a mission 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 825 million (US $227 million), was listed on the Doha Securities Market in June 2003, and is a Gulf Business Top 100 company.
ABOUT THE STATE OF QATAR:
Qatar has strong historical and cultural ties to the sea. Pearl fishing was the traditional mainstay of the economy until oil and gas took over around 50 years ago. Although pearling is no longer a key economic driver, it has left a legacy of skills, stories, music, art and poetry that is a source of identity and pride for Qataris today.
Qatar has growing inbound tourism ambitions with The Qatar Tourism Authority this year targeting arrivals of 1.25 million tourists and the Doha International Airport undergoing huge expansion to cope with the anticipated increase in passenger traffic. When completed in 2015, the airport will handle around 50 million passengers a year.
The Qatari government has a pro-business stance on foreign investment and is encouraging the growth of the country's private sector, stimulating progress with an active privatisation programme.
For media information, please contact:
Nathalie Visele
Director
Shamal Marketing Communications (SMC) FZE
PO Box 24459
Suite 712
The Fairmont
Sheikh Zayed Road
Dubai
United Arab Emirates
Tel.: +971 50 4576525
Fax: +971 4 3124313
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