5 May 2005
DUBAI -- Pearl-Qatar, the $2.5 billion destination covering 985 acres of reclaimed land off the coast of the Qatari capital, Doha, have sold three islands to a domestic real estate investor for hospitality development.
The investor has bought, Marsa Arabia, an anchor island-within-an-island in the centre of Porto Arabia, the main marina of The Pearl-Qatar and Viva Centrale, the island playground of Viva Bahriya, the project's second largest bay, and Marsa Malaz island, which sits snugly in the centre of The Pearl-Qatar's smallest bay, Costa Malaz.
Nick Bashkiroff, Development Director, The Pearl-Qatar, told the Press: "The investor has stated that development will follow The Pearl Qatar's master plan and the hotels will be built in line with the initial overall concept."
He added: "The original masterplan called for a 450-room, five-star hotel on Marsa Arabia. The hotel will face an idyllic expanse of marine activity and a Riviera-style shoreline and would be an ideal place for some of the business and leisure travellers in Qatar by 2010."
To a question about the construction and reclamation work, Bashkiroff, said: "The 40 per cent reclamation work of island is completed and the piling work will commence next month. The construction of hotels and villas will start in 2006 and may be completed by 2008." Meanwhile, The Pearl-Qatar has launched the sale of around 500 town homes, in the price range of more than $300,000 to $1.3 million along the 2.5 kilometre La Croisette boulevard which skirts the main Porto Arabia harbour.
The one, two, three and four-bedroomed town homes are the final freehold residential offerings on Porto Arabia, which will be the bustling heart of The Pearl-Qatar.
BY MOUSHUMI DAS CHAUDHURY
© Khaleej Times 2005
