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Courtesy
of Qatari Diar
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Nasser Al-Ansari
CEO, Qatari Diar
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Qatar launched one of the largest developments
in the region on December 21, 2005: the new city
of Lusail, a USD$5 billion enterprise to the north
of Doha.
On site work is due to start at Qatar’s Lusail
Development in 2006, said officials.
Contracts for the implementation of the necessary
infrastructure have already been awarded.
Covering over 35 square kilometers, accommodating
up to 200,000 people and with an estimated budget
of $5 billion, Lusail is one of the largest developments
in the region.
Situated in the North of Doha, this breathtaking
city expansion will transform the existing raw tidal
flats north of the Ritz-Carlton Hotel and dramatically
change the economic and physical profile of Qatar
for the better.
"The launch of Lusail is a major milestone
in Qatar’s development," Qatari Diar CEO
Nasser Hassan Al Ansari.
The scale and influence of Qatari Diar as a major
regional force in real-estate and property development
was confirmed when Shaikh Hamad bin Jassim bin Jaber
Al Thani, The First Deputy Prime Minister and Foreign
Minister of Qatar and Chairman of Qatari Diar officially
launched the Lusail Development.
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Courtesy
of Qatari Diar
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A rendering of the future
city of Lusail, Qatar.
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In his address at the launch event held at the
Ritz-Carlton in Doha, CEO Nasser Hassan Al Ansari,
confirmed the significance of the Lusail Development
for Qatar and the region as a whole.
Lusail Development will include a large blue water
lagoon with two marinas, major residential areas
providing quality, high and low density housing
to meet all needs, extensive commercial districts
and mixed-use areas, comprehensive leisure and entertainment
facilities including two golf courses and an entertainment
district, naturally functional silt-free beaches
as well as all the necessary social amenities such
as mosques, parks, schools, shopping centers and
medical centers.
Al Ansari explained the thinking behind the project.
"The whole development, by encouraging inbound
investment and providing world class living and
working environments, will stimulate the local economy."
"It has been a collaborative process and is
a prime example of what can be achieved through
effective partnerships across the private and public
sectors."
Conceived as a phased development, the Lusail project
has been carefully planned around the concept of
Districts in order to provide enhanced, state of
the art living and working environments that celebrate
traditional Qatari and Islamic architecture and
foster community values.
The commercial districts have been designed to
provide a comprehensive range of appropriate premises
for major multi-nationals as well as local entrepreneurs
and small to medium enterprises with an architectural
character suitable for a new urban community such
as pedestrian-friendly streets, parks, shaded areas,
restaurants, shops and easy access to transport
facilities.
Lusail Development has been conceptualized and
planned down to the last detail by recognized leaders
in their fields who are qualified in every aspect
of the design, planning, construction and management
of real estate developments. It will appeal to investors
from Qatar and the international community who are
interested in property opportunities that will,
in addition to world-class design, benefit from
best practice professional management that will
ensure that the integrity, value and viability of
their investment is maintained over the long term.
The first phase of the development, The Marina
District, a high density mixed-use area comprising
residential towers, attractive waterfront features
and community amenities, will be open for inquiries
immediately on the launch of Lusail.
The launch of the Lusail Development comes at a
time when the property market in Qatar is experiencing
a boom, with recent forecasts suggesting that billions
of US dollars worth of investments will be channeled
into the country over the next eight years.
Wholly owned by the State of Qatar’s High
Supreme Council for Economic Affairs and Investment,
Qatari Diar was established in December 2004 to
support Qatar’s growing economy and to co-ordinate
the country’s real estate development priorities.
Qatari Diar is a government-owned real estate investment
company responsible for creating and coordinating
financially sound property development opportunities
that will generate sustainable and tangible socio-economic
benefits.
Qatari Diar’s vision is to become the region’s
most trusted and effective real estate investment
company by focusing its value proposition on the
creation of quality, well-planned and desirable
developments.
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Qatar
