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DOHA: With Qatar planning a series of mega projects in the run up to the 2022 Fifa World Cup event, the number of insurable assets in the country is set to increase at high rate, Lussail Real Estate Development Company chief executive Essa Mohammed Ali Kaldari said.
Addressing a session at the Multaqa 2013 conference, Kaldari said that Lusail City, where more than $45bn worth of investments has been announced, opens up immense opportunities for insurers.
Kaldari said :“We partner with the best project and management consultants. Our idea is to focus on a model that integrates contractors, risk management and insurance. Previously, insurance was taken by contractors. We are seeing the benefits of taking direct control over insurance.”
The Lusail City mixed-use development project is under construction and will be a “self-contained, holistic, all-inclusive” city that will accommodate 200,000 residents, 170,000 workers, and 80,000 visitors, Kaldari said. It will also feature a rail transport system that connects to Doha.
The futuristic project is one of the most ambitious and ground breaking concepts of Qatari Diar Real Estate Investment Company, which aspires to become the most internationally renowned company in real estate investment.