|
Qatar’s drop in the ocean
Real estate news By 7DAYS
Tuesday 16 Oct, 2007
First Qatar Real Estate Development Company will announce its latest developments at Cityscape 2007, the largest B2B real estate investment and development event in the world. This year, Cityscape officials say, the event is set to grow another 40 per cent, with 45,000 real estate professionals from 102 countries and 700+ exhibitors spread over 70,000 square metres of exhibition space. The value of projects planned or under way in the Gulf has exceeded $1,000 billion, with the UAE accounting for one-third of that.
Similar to the mega-scale Palm projects in Dubai, the Pearl-Qatar project is one of the biggest real estate projects in the region and the first freehold project in Doha for worldwide investors. Elaborating on the participation of First Qatar, Fahad Al-Ghunaim, chairman and CEO of First Qatar, said: “First Qatar will use Cityscape as a platform to interact with regional and international investors. It will keep investors posted on strategic initiatives, financing modalities and future projections.”
First Qatar is the only developer in Qatar to offer guaranteed rentals that amount to 25 per cent of the property price over a period of three years. To consolidate its rentals business segment, the company has recently announced its affiliation with RCI Global Vacation Network Group (RCI). With RCI, the company will be offering short-term rentals on its exclusive First Tower apartments that will cater to the needs of both business tourists and holiday-makers in addition to being a lucrative source of income for the owners. “First Qatar is committed to enhancing quality of life by offering a range of exclusive developments that offer superior living environments,” said Al-Ghunaim. “We are determined to sustain successful long-term relationships with our investors, partners, clients and private residents.”
Send tips or a Letter to the Editor to editor@updatere.com
|
