The small Arabian Gulf state of Qatar has big plans for its latest real estate development, a 985 acre man-made island just off the coast from its capital, Doha. Already dubbed the Arabian Riviera, The Pearl-Qatar promises to bring a taste of Mediterranean living to the Middle East and when completed in 2010 it is expected to be home to some 40,000 residents.
Qatar itself is a former British protectorate that gained independence in 1971. Once famous for its pearl fishing, it is now one of the richest nations in the world courtesy of its extensive oil and natural gas reserves. It is also a country that embraces visitors - in fact foreigners outnumbers native Qataris thanks to a booming constructing industry and gas and oil.
Qatar sees tourism as a big part of its future, and the expansion of the Doha International Airport in three phases underlines this. By 2015, it will be one of the largest and most modern airports in the world, with the capacity to handle 50 million passengers a year. It will also be the first airport in the world designed specifically to accomodate the new two-floor Airbus A380-800, the largest passenger aircraft ever built.
The Pearl-Qatar development presents the first opportunity for foreigners to actually own property freehold in the country. In June, 2004, the Emir, Sheikh Hamad Bin Khalifa Al-Thani, passed a dcree stating that property owners would be entitled to apply for a residency visa upon the purchase of a property on the island. This visa includes dependent children and is valid until the property is sold.
Pearl-Qatar will be connected to Doha by a causeway, but it is designed to offer exclusive living in a community that will boast marinas and upmarket retail outlets as well as schools - three primary and one secondary - medical facilities, supermarkets and public parks.
Three main marinas will be set within distinct residential zones, each with unique characteristics and lifestyle features. The first phase of the development is Porto Arabia, the gateway to the island, with the first units scheduled to be ready for occupancy towards the end of 2007.
Then there is the Costa Malaz, a quiet haven of up-market lifestyles in the second harbour. Here, stand-alone villas are arranged to overlook a sweeping harbour, which is entirely bordered by a beach. Viva Bahriya, described as “a perfect home for families” will be at the geographical centre of The Pearl-Qatar, while Isola Dana is an exclusive chain of islands which enable owners to style their own residences. They will extend out into the Arabian Gulf to afford considerable privacy and discreet independence.
Property available on Pearl-Qatar will run the full gamut from apartments, townhouses and villas. Prices will start at around US$250,000 for a 120 sqm one bedroom apartment.
