Doha, 10th December 2007: One of Qatar's newest property investors sheds light on his purchase of a second danatQatar apartment in the Pearl-Qatar development.

Mr Mohan Sreenivasan met with David Oayda, General Manager of Asteco today, at its new West Bay offices to discuss his decision to buy two of the sixty-six apartments available in stage one of danatQatar, situated within the Pearl's Porto Arabia district.

Although Mr Sreenivasan viewed other properties available within The Pearl-Qatar development, he was attracted by danatQatar's competitive pricing and practical floor plans compared to other developments, as he sought to 'buy to rent'; although the deal clincher was Asteco's unique construction milestone mortgage.

"The mortgage in particular attracted me to buy a danatQatar apartment. It was flexible and I was reassured by the fact that bank payments were made only on completion of construction milestones. I felt assured that the building would be completed to high standard and on schedule." Mr Sreenivasan explained

The revolutionary mortgage scheme devised by Commercial Bank and funded by Capital Investment, sees banking funds released to developers only on completion and after an independent survey of critical points in the construction stage to time and specification.

Like many others in the burgeoning Qatar property market, Mr Sreenivasan is looking to make a real estate investment and sees the potential of Qatar, as it becomes a hub for foreign investment.

Mr Sreenivasan added: "As a potential landlord, it was essential to receive a good return on investment from rental income, so the layout and interior were very important. I also felt reassured to learn of Asteco's property management services. I felt confident of Asteco's commitment to me as a buyer as they were prepared to offer services, advice and assistance to aid me through the rental process. "

David Oayda, Asteco GM commented: "The important distinction to be made about Asteco is that we're heavily involved throughout the life of a project; from the design phase to pricing and development. Through our expertise we're able to provide distinct added value to our buyers, whether they be home-makers or property investors."

danatQatar clearly made a big impression on Mr Sreenivasan, as shortly after buying one property; he purchased a second apartment for his own residence and recommended many of his friends to buy a danatQatar apartment, or two.

"My family are very excited to see the finished product; from the sea views and lagoon, to using the state-of-the-art facilities that will feature in our new home." Mr Sreenivasan added.

-Ends-

Editors Notes 
Asteco is an international property services company based in Dubai and is the UAE's leading property services consultancy with over 5,000,000sq ft of real estate under their management, including The Palm, Jumeirah development in Dubai. Asteco offers complete property agency services including leasing and sales, development advice, property management and marketing and feasibility studies for residential, commercial and retail developments.  

Released on behalf of Asteco by Hill & Knowlton - for further information or to arrange an interview, please contact:
David Oayda
General Manager
Asteco
Tel: +974 449 7700
Email: davido@asteco.com

Kerry Morris
Senior Account Executive
Hill & Knowlton,
Qatar
Tel: +974 413 1260
Email: kerry.morris@hillandknowlton.com

© Press Release 2007