*Qetaifan Island North’s sales exceed QR1bn within 12 months and acquire international awards
*Remarkable demand on plots’ ownership despite challenges
*A new exclusive real estate product at the end of 2021 Q1, also for the first time in Qatar
*Also announced is the launch of a new residential product, "Duplex" units in limited quantities within the South Mid-rise towers on the Lusail Marina
Qetaifan Projects, owned by Katara Hospitality, on Tuesday announced the awarding of reservations for Qetaifan Island North’s Phase 2 Villa plots.
The ceremony was attended by Sheikh Nawaf bin Jassim bin Jabor al-Thani, chairman of the Board of Directors of Katara Hospitality and Qetaifan Projects, and Sheikh Nasser bin Abdul Rahman al-Thani, managing director of Qetaifan Projects and deputy chairman of Katara Hospitality.
At the event investors bid on the first down payment to own a plot in Qetaifan Island North. The ceremony followed Sheikh Nasser bin Abdul Rahman al-Thani’s sales launching announcement of Qetaifan Island North’s phase 2 villa plots during a press conference in November.
A number of ministers and other dignitaries including potential investors and Qetaifan Projects’ board members; engineer 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 were also present.
The attendees at the ceremony at Ritz-Carlton Doha adhered to the precautionary and preventive measures against Covid-19 as set by the Supreme Committee for Crisis Management and the Ministry of Public Health.
On the occasion, Katara Hospitality and Qetaifan Projects chairman 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.
He explained that investors aspire to benefit from the returns of Qetaifan Island North project through the safe environment achieved by the state to encourage and attract foreign investments and create new opportunities, noting that this will positively affect the local market and encourage competition and inspire the state’s sectors in all fields.
As Qetaifan Island North is part of Lusail city, and features seven beaches, which makes it a distinctive waterfront for the city. The island spans 1.3mn sqm, and the area of projects on the island extends to approximately 830,000sqm.
“We believe in the future of Qetaifan Island North and are working hard and sincerely to make the island a pioneering touristic destination," Sheikh Nawaf stated.
Katara Hospitality and Qetaifan Projects chairman also pointed out 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 bin Abdul Rahman al-Thani, managing director of Qetaifan Projects, expressed his delight with this achievement, saying: “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.
"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, and 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.
"Based on our study of the local market, we saw that investing in a residential villa overlooking a 5-star operated beach is currently not available, and we decided to provide a luxurious and unique lifestyle for villa owners in addition to the luxury that fits the general framework of living in Qetaifan Island North as the first entertainment touristic island in Qatar. "
Since Qetaifan Projects is keen on providing equal opportunities for all and to ensure transparency, the same sales mechanism that was used in phase 1 which was accepted by investors was applied; through bidding on the first payment in front of all investors wishing to own property in Qetaifan Island North.
Sheikh Nasser also announced the launch of a new residential product, "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. 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, a first-in-Qatar, comes with an average area of 450sqm, will be launched for the first time in Qatar at the end of the first quarter of 2021.
On the occasion, Nasser Hassan al-Ansari, chairman of Just Real Estate Company, added: “We at Just Real Estate view it as an honour to represent such an exceptional project which we firmly believe will be a new benchmark for destination development and management not only within this country but well beyond our homes shores. 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 2022 FIFA World Cup.”