Doha: The sale of villa plots for Qetaifan Island North has already exceeded QR1bn within 12 months, it was announced yesterday.
Qetaifan Projects, owned by Katara Hospitality, has announced the awarding of reservations for Qetaifan Island North’s Phase 2 Villa plots at an auction ceremony which was attended by Chairman of the Board of Directors of Katara Hospitality and Qetaifan Projects, Sheikh Nawaf bin Jassim bin Jabor Al Thani and Managing Director of Qetaifan Projects and Deputy Chairman of Katara Hospitality, Sheikh Nasser bin Abdul Rahman Al Thani, at the Ritz-Carlton Hotel in Doha yesterday.
During the event, investors bid on the first down payment to own a plot in Qetaifan Island North. The ceremony was also attended by a number of Ministers and VIPs, in addition to Qetaifan Projects’ board members including Eng. Jamal Al Kaabi, Hesham Sharaf, Chief Operating Officer, Sheikh Nasser bin Abdulaziz Al Thani, Head of Business Development Department at Qetaifan Projects, and Nasser Hassan Al Ansari, Chairman of the Board of Directors of Just Real Estate Company, the Sales Agent.
Speaking on the occasion, Sheikh Nawaf affirmed that “the demand for investment in phase 1 of Qetaifan Island North reflects the position the company has reached in the local real estate development market, indicating that the project represents a starting point for Qetaifan Projects towards developing more projects and serving various state sectors.
“We believe in the future of Qetaifan Island North and are working hard and sincerely to make the island a pioneering touristic destination. Qetaifan Island North represents a commitment to investing in the development of the tourism industry and strengthening the hospitality sector in Qatar, indicating that Katara Hospitality’s vision aims to change the world of hospitality through investment and innovation, which would leave a prominent legacy for future generations in line with Qatar’s National Vision 2030,” he added.
Qetaifan Island North is part of Lusail City, and features seven beaches, which makes it a distinctive waterfront for the city. The island spans 1.3 million sqm, and the area of projects on the island extends to approximately 830,000sqm.
Sheikh Nawaf added that Qetaifan Island North serves the plans to host the 2022 World Cup, as it provides modern facilities capable of accommodating a large number of hotels, retail outlets, restaurants, and unique recreational facilities such as the waterpark and the vast green spaces.
Sheikh Nasser added: “We went through a difficult year, like everyone else, but we succeeded in defying the difficulties and the ambition of the whole team at Qetaifan Projects during this year is an example of the victory of human will in the face of challenges, and we consider our achievement of this volume of sales and the demand that we have witnessed on Qetaifan Island North’s villa plots under the current circumstances an achievement and an example to be emulated in dedication and sincerity of work. This in turn reflected positively on the investors’ trust in Qetaifan Projects and investing in the island, in addition to the promising future they see in Qetaifan Island North project in line with Qatar Vision 2030 and in line with the country’s ambitions to develop the tourism and hospitality sectors, as well as the real estate development sector.”
During the event, Qetaifan Projects also announced its new residential product, the “Duplex” units in limited quantities within the South Mid-rise towers on the marina. These distinct units are characterised by unprecedented privacy, whether in terms of design or implementation, as each unit has a swimming pool, parking lot and its own garden, in addition to a private entrance for each resident to his unit, a spa, and separate rooms for workers. The units come with an average area of 450sqm. The new “Duplex” product will be launched for the first time in Qatar at the end of the first quarter of next year, added Sheikh Nasser.
Speaking about the work progress at the island, Sheikh Nasser said: “We have worked to develop a strict plan to adhere to all preventive measures set by the Supreme Committee for Crisis Management and the Ministry of Public Health, in order to ensure the work progress without affecting the schedule of the project and we achieved more than 5 million working hours on site without any injuries, other than the small number that was replaced among the 7,000 workers who work 24 hours a day, 7 days a week. We also signed a contract with Sarner International to implement the edutainment tour in the waterpark, which will witness 3D mapping and augmented reality about the story of oil and gas discovery in Qatar, to enrich the Qatari culture.
“We also signed with Severn Lamb to manufacture the trains that will connect the waterpark with the Icon Island, as well as Interlink Company. As for Qetaifan Projects team, the Finance team got the accreditation of the Association of Chartered Certified Accountants, also 7 employees received memberships at the Chartered Institute of Marketing, and the Marketing Department received the Marcom Award for Excellence and Innovation as the best team achievement for phase 1 sales campaign. We have been awarded the Best Place to Work Award in Doha, and our efforts have recently paid off by obtaining the award for the Best Real Estate Development Company in Qatar 2020 from the Global Business Outlook, and one of our most important achievements remains the dependence on the local market, which reached 90 percent,” he added.
Nasser Hassan Al Ansari, Chairman of Just Real Estate Company, added: “This sales result is a massive vote of confidence in the iconic Qetaifan Island destination which will be a flagship to modern lifestyles within the country and its tourism and leisure potential. It is also a clear signal to the local, regional, and international markets of the resilience of Qatar’s real estate sector which still holds out highly positive investor returns as we head towards the 2020 hosting of the FIFA World Cup.”
