United Development Company launches today the sale of luxury seaview apartments at the "Costa Del Sol", the second beachfront tower at Viva Bahriya, one of the most desirable addresses on The Pearl-Qatar.
Ideally situated in Viva Bahriya, the second largest precinct on The Pearl-Qatar, the 19-storey tower offers potential buyers luxury studios, one, two and three-bedroom apartments, all of which have been designed with a beach or open sea view- making Costa Del Sol unique on the Island.
Viva Bahriya's direct access to 2.5km of pristine beach, water sport facilities, a marina club, in sea restaurants as well as trendy beach clubs, makes it an ideal location for homeowners seeking a relaxed and more family oriented lifestyle.
"We expect a rush for these new apartments," says Salim Abdul-Rahim, General Manager of Sales at The Pearl-Qatar. "They have been designed to cater to people looking for the best in beachfront living.
What makes this precinct highly desirable is its own stretch of pristine sand and the fact that it is a haven for water sport enthusiasts," he added.
Though the more than QR 50 billion (14 billion dollars) offshore island is in its initial phase of completion, The Pearl-Qatar has already become the destination of choice for investors and residents from 32 countries, and is expected to be home to an up-scale, multi-cultural community of over 41,000 residents when completed in 2011.
As Qatar joins the ranks of the most affluent and most advanced nations, it naturally seeks to develop its resources and build world-class environments based on an open market. Being part of this growing young nation, The Pearl-Qatar is a smart investment that adds to the economic strength of the country with its offerings of full residency rights, freehold ownership and tailored payment schemes.
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About The Pearl-Qatar
The Pearl-Qatar is an offshore, Riviera-style man-made island, covering 985 acres of reclaimed land with an estimated cost in excess of QR50 billion ($US 14 billion). It is Qatar's first international urban development venture, one of the largest developments in the country and the first to offer freehold and residential rights to international investors. It will create over 32 kilometers of new coastline.
The Pearl-Qatar's name and location, on a former pearl diving site, highlights the country's traditions, and strong historical and cultural ties to the sea. It is an island rediscovered.
The Pearl-Qatar will eventually house over 41,000 residents in an up-scale, multi-cultural residential community which will be a secure and exclusive island retreat bringing the ambience and lifestyle of the Mediterranean to the heart of Arabia.
Spanning over approximately 4-million square meters of land, and over 32 kilometers of new coastline, The Riviera Arabia themed districts will also include 3 five-star hotels, two boutique hotels, three marinas with combined mooring for over 1000 boat and, a yacht club, schools, restaurants and lifestyle amenities, and two million square feet of upscale retail space proffering some of the world's most renowned luxury brands.
Built 350 meters offshore of the West Bay Lagoon area of the country's capital, Doha, the Island will offer an exclusive retreat with easy access to the capital's thriving community.
The Pearl-Qatar is being developed and promoted by United Development Company (UDC), one of Qatar's leading private sector shareholding companies.
About United Development Company
United Development Company (UDC) is one of Qatar's leading public shareholding companies. UDC's mission is to identify and create opportunities that contribute to Qatar's growth and provide good shareholder value. The Company was established in July 1999 and has an authorized share capital of QR 1.0725 billion (US $294 million). It was listed on the Doha Securities Market in June 2003.
UDC's target areas of interest include: infrastructure and utilities, hydrocarbon and energy, urban development, environment-related businesses, fashion, and hospitality and leisure.
From day one, the Company's mandate and mission has been to become a cornerstone in the development that the region is currently witnessing; creating lasting value and maximizing returns for partners and shareholders. Through a combination of project activities and commercial enterprise, UDC has developed into the first-choice private sector joint venture partner for international investors in Qatar, and has successfully established new companies and investment vehicles across the region.
Since 1999, UDC has moved from project research into development, production and operations. Project research has culminated into the successful creation of companies that are amongst the leaders in their related fields of industry. The Company prides itself in its ability to create quality investment opportunities both at home and overseas. The company is empowered to invest in financial instruments in Qatar.
UDC's founders, who at launch held 45% of the shares, are among Qatar's most successful investors and developers. Other Qatari and GCC investors are also shareholders in UDC.
For more information, please contact:
Mira El-Baphe
Senior Media Relations Officer
Tel: +974-5970433 - Fax: +974-4438971
Email: mira@udcqatar.com
© Press Release 2008
