Bahraini lender launches $22m housing project in Qatar
- Qatar: Sunday, October 21 - 2012 at 02:40
Bahrain's Khaleeji Commercial Bank has launched a $22m luxury mixed-use development in Qatar's Lusail city, Gulf Times has reported. To be built within the Al-Erkyah district of Lusail in New Doha, the project is expected to house 1,000 to 15,000 residents. It will offer a combination of low-rise residential housing and "world-class medical services," international schools and a 146-room five-star hotel among its attractions. "The Qatari market has shown clear signs of recovery since early 2012. The value of projects in the country has grown at a compound annual growth rate of 40% between 2005 and 2011. In addition, the impact of the forthcoming World Cup 2022 has been positive on Qatar's real estate market and this will continue," said the lenders' head of investments, Ozan Korkut Benlioglu.
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