DOHA - Qatari Diar Real Estate Investment Company, a regional leader in building sustainable communities, announced that all 46 plots in the Waterfront District of its master-planned Lusail development in Qatar have been sold within hours of the launch. The total sales value is expected to reach QR2.3bn.
Covering over 35 square kilometers, accommodating up to 200,000 people and with an estimated infrastructure budget of $5.5bn, Lusail is one of the largest developments in the region. Situated in the North of Doha, this breathtaking city expansion will transform existing raw tidal flats and dramatically change the economic and physical profile of Qatar for the better.
The Lusail Waterfront District will represent the pinnacle of seaside living, boasting the feel and excitement of a traditional Arabic souq while offering state of the art amenities and entertainment options. The Waterfront District will be one of Lusail's key communal areas, with designer boutiques and restaurants, a recreation center, cinema complex indoor botanical garden and an outdoor amphitheater. The plots were purchased by investors keen to capitalise on this unique opportunity.
"The Lusail Waterfront will represent the best of what Qatar has to offer. It will offer a uniquely Arabic ambiance and world-class entertainment options, all while respecting Qatar's unique cultural and artistic heritage. We believe that these waterfront properties will be among the most desirable in the entire region," said Nasser Hassan Al Ansari, Chief Executive Officer, Qatari Diar.
To ensure that all interested parties have the opportunity to invest in Lusail, Qatari Diar maintains a database of all individuals who express an official interest purchasing property. These individuals are then contacted directly and told of upcoming launch. Additionally, advertisements were taken out in a number of newspapers to ensure that all Qatari's have an equal opportunity to invest in this prestigious community.
"Lusail will continue to inspire investors' imagination, as world-class design is coupled with the principles of sustainability and respect for local cultures. This unique strategy will help ensure that Lusail represents one of the region's most compelling, valuable and viable long-term investments," concluded Al Ansari.
Lusail Development will also include a 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 a golf district, a marina district 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.
© The Peninsula 2007
