Remaining units of company's Paradise Lusail development sold out, while sales of other residential and commercial projects impress
Al Madar Property Investments, a leading property developer in the GCC and part of the Al Madar Group, has announced that its participation in the recently concluded QREX 2008 property exhibition in Doha, Qatar, has been extremely successful, with the company closing several sales deals for the range of residential and commercial properties it showcased at the event.
The first two days of the exhibition saw all the available units of Al Madar's Paradise Lusail residential development in Qatar being sold out, while there was an overwhelming investor response to other projects such as Coopet and Siraj Tower Al Madar's G+4 and G+29 developments in Arjan, DubaiLand; the 9-storey office building, Bellagio Tower in Liwan, DubaiLand; the 'Hotel' project in Qatar; and '114' the commercial office tower in Doha. In addition, Al Madar launched its latest residential project currently called Paradise 2, during the exhibition. This 15 storey tower is set to be the first residential building in Qatar that will be sold with a smart home system as part of the specification.
Commenting on their success at the exhibition, Eng. Haider Al Mashaddi, Managing Director, Al Madar Group, said, "The major response generated by our projects at the QREX 2008 exhibition is testimony to the favourable market reputation we enjoy in Qatar, built through our 16-year presence in this market with over 130 high quality developments."
"The real estate sector in Qatar is growing at a phenomenal pace currently, attracting massive investments from regional and international investors alike. The unprecedented property market growth has also spurred an overall economic boom in Qatar, in turn boosting the demand for quality residential and commercial properties, and Al Madar is pleased to address this market demand with our range of mixed use, residential and office projects coming up across the country," he added.
Al Madar's Paradise Lusail development in Qatar is a five-floor building in the new freehold zone of Doha and is the Group's first development in a freehold zone in Qatar. The project comprises studio, one, two and three bedroom apartments.
The 12-storey 'Hotel' project overlooking the corniche in Doha, offers 81 rooms or single suites, and also provides rooftop leisure deck features including an open air pool, a sauna and a steam room.
Bellagio Tower in DubaiLand is an Italian-style 9-floor office building that offers state-of-the-art facilities, while the '114' is a 15-storey commercial office tower located adjacent to the corniche in Doha.
Coopet is a mixed-use, 5-storey building in DubaiLand that offers 61 studio, 24 one-bedroom, 16 two bedroom and eight three bedroom apartments. The project boasts of a range of amenities such as rooftop swimming pool, state-of-the-art gym and 24-hour security and maintenance.
Al Madar Group was founded in 1992 in Qatar as a company specialised in the design and construction of civil and industrial projects as well as infrastructure and marine development works. The Group has since grown to become one of the premier business houses in the Gulf and today has a presence in several business and industrial sectors, including real estate, contracting, engineering, manufacturing and trading.
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Editor's Note:
The Al Madar Group has been operating and developing property in Qatar since 1992 and has earned a reputation for delivering high quality projects on time. Originally concentrating on the design and development of villa complexes, the Group now develops multi-storey complexes and currently has several residential, commercial and hotel developments in Doha and is also strengthening its presence in the UAE.
© Press Release 2008
