Participants hear about exciting achievements and continued growth of the multi-billion dollar island
Officials from The Pearl-Qatar, the multi-billion dollar offshore island recently told a group of investors and corporate executives about latest developments and achievements at The Pearl-Qatar.
Nick Bashkiroff, Development Director of The Pearl-Qatar, spoke at the MEED conference for non-energy projects in Qatar on Monday and outlined the vision of the island and the present state of construction.
"As of today, we have reclaimed more than 75 percent of the 4 million square meters of the Island and we expect to have all reclamation works completed by July of this year," Bashkiroff said.
"The second phase of development has already begun with the awarding of a piling contract last July. The scope of the work includes the piling of Porto Arabia townhouses. Test piling has been completed and groundbreaking work has begun," he added.
Bashkiroff also told participants of the conference about The Pearl-Qatar's retail opportunities and the growing interest from a number of posh retail outlets and designers.
"In addition to housing and accommodation, the retail and entertainment sectors in Porto Arabia have generated significant interest from investors and corporations."
The Pearl-Qatar features more than 2 million square feet of retail space and will have more than 800 outlets, Bashkiroff said, adding that the project is positioning itself to become a destination for upmarket retailers and shoppers alike.
After his speech, Bashkiroff took questions from the audience and responded in greater detail to the queries from the various businesspeople and executives.
"When completed in 2009, The Pearl-Qatar will be a destination of elegance, beauty, excitement, class, touristic attractions, shopping, dining, and experiences of world-class magnitude. It is destined to become this region's Riviera Arabia," he said.
The island will be home to some 40,000 residents by 2009 and the first units will be ready for occupants in late 2007.
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© Press Release 2006
