Just Real Estate, the developer of The Lane Residence Project, has announced the start of excavation and foundation works at project site in Lusail Boulevard.Collaborating with Dutch Foundations Qatar Co, this marks the beginning of construction for the 11-storey residential building.Over the next few weeks, the project site will undergo major works including pile foundations, excavation, site preparation, soil works, and concrete pillar installations, in addition to dewatering and shoring.Sheikh Mansour bin Jassim bin Thani al-Thani, the development owner, expressed confidence in Dutch Foundations Qatar Co’s expertise, ensuring adherence to timelines and standards.The Lane Residence project holds great importance as the first residential development in Lusail Boulevard area, which became a local and global attraction.Sheikh Mansour said he envisions a vibrant community with various amenities and services.He said, “We are positioning ourselves in the best possible position to successfully achieve the project’s objectives within our timeline. The preliminary works will be carried out by the Dutch Foundations Qatar Co, which has extensive experience, especially in the areas of Lusail City. This stage is considered one of the critical stages, especially since the works will be in a developed area full of various activities.”Engineer Nasser al-Ansari, chairman of Just Real Estate Co, describes The Lane Residence as a cornerstone development tailored to meet market demands and investor expectations, highlighting the project's rapid sales momentum, with 30% units sold in an early phase, attributed to flexible payment plans despite high interest rates, attractive investment opportunities and its unique concept. He highlighted that residents can make monthly instalments as if they are renting the apartment or to invest and leverage rental income to cover the instalments.Ali al-Tahan, general manager of Dutch Foundations Qatar Co, operating in Qatar since 1996 and specialising in excavation and foundation works for buildings and towers, expressed pride in collaborating with Sheikh Mansour on the project and his commitment to delivering superior craftsmanship within the agreed timeline and with the highest standards.Expected to be completed by December 2026, The Lane Residence project promises to redefine urban living in Lusail City. Comprising of 79 residential units spread across 11 stories, the development offers a variety of housing options, including studios, one-bedroom, two-bedroom, and three-bedroom apartments.Additionally, it introduces exclusive units featuring private pools and terraces, a unique offering in the local market. Residents will be treated to magnificent panoramic views of the iconic Lusail Towers. Moreover, The Lane Residence will be equipped with smart amenities such as electric vehicle charging stations and seamless smart home integration. Furthermore, residents will have access to a private padel court.

Qatar's inflation-adjusted (real) economy is estimated to have grown 1.2% year-on-year during the third quarter (Q3) of 2023, mainly on faster expansion in the hydrocarbons sector, according to the official data.The real gross domestic product (GDP) rose faster at 4% on a quarterly basis during the review period as the non-oil sectors grew much faster than hydrocarbons, according to the Planning and Statistics Authority data.The mining and quarrying sector, under which hydrocarbons fall, is estimated to have grown 2.3% year-on-year and the non-mining and quarrying sector by 0.6% to take the overall real GDP to QR177.33bn during Q3-2023.The agriculture, forestry and fishing sectors grew 1.7% on an annualised basis in Q3-2023, but was down 1.5% quarter-on-quarter.On a quarterly basis, the real GDP (at constant prices) growth during Q3-2023 was on account of a 0.8% rise in the mining sector and 6% in non-mining and quarrying sector.Within the non-hydrocarbons sector, the accommodation and food service segment is estimated to have expanded 13% year-on-year in Q3-2023, followed by transport and storage by 7.1%, manufacturing 1.8%, real estate by 1.5% and wholesale and retail trade 0.5%.Nevertheless, information and communication saw a 17.8% plunge year-on-year, construction 3%, finance and insurance 1.7% and utilities 1% during the review period.On a quarterly basis, the accommodation and food services zoomed 38.2%, utilities 18.5%, wholesale and retail trade 18.1%, finance and insurance 10.7%, construction 8.2%, information and communication 7.6%, transport and storage 5.4% and manufacturing 4.5%; even as realty declined 2.4% during Q3-2023.On a nominal basis (at current prices), Qatar's GDP is estimated to have declined 25.7% on an annualised basis but shot up 6.2% quarter-on-quarter at the end of Q3-2023.The mining and non-mining sectors plummeted 25.7% and 1.7% year-on-year and quarter-on-quarter basis respectively during Q3-2023.On a quarterly basis, both mining and non-mining sectors witnessed 8.7% and 4.6% expansion, leading to a growth in nominal economy during Q3-2023.Within the non-hydrocarbons sector (in nominal terms), there was 13.2% plunge in the manufacturing, 6.9% in construction and 6% in information and communication; whereas finance and insurance saw 20.6% surge, utilities 11.1%, accommodation and food services 8.7%, realty 3.4%, wholesale and retail trade 1.8% and transport and storage 0.3% during Q2-2023.On a quarterly basis in nominal terms, the accommodation and food services segment shot up 37.4%, utilities 17.8%, manufacturing 10.2%, information and communication 8.9%, finance and insurance 8.6% and transport and storage 6.4% during the review period.However, the construction and real estate sectors recorded 5.5% and 4.6% contraction in nominal terms on a quarterly basis during Q3-2023.The import duties, on real terms, are estimated to have declined 10.9% year-on-year but rose 2.6% quarter-on-quarter at the end of Q3-2023.On nominal terms, the import duties reported a 9.8% contraction year-on-year, whereas it shot up 2.4% on a quarterly basis during the review period.