United Development Company (UDC) has upped the ante for Qatar’s luxury property market with the launching of its ‘Gewan Island’ project, unveiled by HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani at Cityscape Qatar 2018, which formally opened on Sunday.
The ceremony was held in the presence of HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada, HE the Minister of Transport and Communications Jassim Seif Ahmed al-Sulaiti, UDC chairman Turki bin Mohamed al-Khater, and UDC president and CEO Ibrahim Jassim al-Othman, along with other public and private sector officials at the UDC booth inside the Doha Exhibition and Convention Centre.
Al-Khater said: “We are pleased to unveil the model of Gewan Island, which celebrates the diverse urban landscape and real estate mix along The Pearl-Qatar. The innovative and modern island responds to the requirements of the community and its cultural needs, providing a distinctive mix of properties including entertainment, retail and residential units.
“The island is surrounded by green spaces that reflect our commitment to providing a sustainable environment for residents. We are confident that the local market will attract domestic and international capital with high investment returns.”
Speaking to reporters on the sidelines of the event, al-Othman said Gewan’s development is part of UDC’s five-year strategy, which involves QR5.5bn worth of investments, of which approximately QR2.5bn is for ‘Gewan Island’, which is situated next to The Pearl-Qatar and spans 400,000sqm with a total built up area of 388,000sqm.
The ‘Gewan Island’ project is situated next to The Pearl-Qatar
He said the island project is expected to be completed by the end of 2021 and will accommodate 3,000 residents and 6,000 visitors, including working professionals for a total of 9,000 visitors per day.
It will comprise of 611 units, including 558 apartments, 26 waterfront villas, 21 beachfront villas, and six island villas, in addition to 21,000sqm of retail space and a number of residential buildings. The island has 100,000sqm of road networks and 20,000sqm of open space, and will be accessible through three main roads.
“This strategy reflects our strong commitment to continuing our exceptional development work, improving our services, upholding our partnerships, and contributing more broadly to diversifying Qatar’s economy, in line with the requirements of Qatar National Vision 2030 and its development strategies,” al-Othman stressed.
He added: “After closely examining a number of real estate projects, we chose to develop Gewan. This project is part of our long-term commitment to diversifying our income sources and investments while undertaking leading residential and investment projects in the local real estate market in order to achieve the best returns for shareholders and investors.”
The island, which derives its name from the full-round, pink-tinted and perfectly shaped pearl from Qatar’s marine heritage, will support a mix of property types, catering for different accommodation and investment needs.
According to al-Othman, the island was designed as an extension to The Pearl-Qatar, offering its residents a comprehensive living space by merging entertainment and retail outlets with smart technologies. He said the project is expected to attract “a warm, welcoming, and youthful community seeking an urbane and vibrant lifestyle.”
The island includes a theme park, an air-conditioned outdoor ‘Crystal’ boardwalk, which acts like the island’s spine, a green park, and a waterfront retail esplanade that will attract new brands to Doha. The island will also be home to entertainment facilities, a sports club, and a mosque.
The island’s design incorporates a number of sustainability features to reduce the use of vehicles and encourage walking and biking through dedicated pedestrian and cycling networks, in addition to roads connecting the island to the public transportation network. The island was also designed to reduce urban heat by incorporating green roofs, shading, and reflective surfaces, where applicable.
Al-Othman also said UDC will be signing on Monday three major contracts related to Gewan Island’s development and contracting works.
Cityscape Qatar 2018 also featured UDC’s second stage sale of a mix of properties at Giardino Village, which include villa plots and low-rise building lots comprising a ground floor and three or five stories as well as villas under construction. Giardino Village is one of the most luxurious and promising residential areas on the island, offering a wide range of landscaped gardens in a unique atmosphere.
Similarly, Cityscape witnessed the launch of the third sale phase of residential units at Al Mutahidah Towers in Viva Bahriya precinct after successfully wrapping up Phase 1 and 2 of sales. Al Mutahidah Towers consist of high-end connected towers offering accommodation units of various dimensions, including studios and luxury apartments, as well as high-level penthouses. The towers also boast of panoramic sea-views and direct access to the beach.