A Saudi-based property developer has described Qatar as a “sweet spot” for investments, citing the 2022 FIFA World Cup as an opportune time to expand into the Qatari market.
Yousef al-Shelash, chairman, Dar Al Arkan Real Estate Development Company, expressed confidence in the Qatari market, citing the country’s rapid economic development.
“We believe in the Qatari market, which is why we are bringing our business here. We also believe that we are in the ‘sweet spot’ considering that in a few months, Qatar will be hosting the 2022 FIFA World Cup, giving us a really good opportunity to expand in this country because we have been looking at this market for a long time,” al-Shelash told Gulf Times.
In March, al-Shelash signed an agreement with Qetaifan Projects managing director Sheikh Nasser bin Abdulrahman al-Thani during the exclusive unveiling of Les Vagues residences by ELIE SAAB.
Qetaifan Projects and Dar Al Arkan launched the premium residential and lifestyle project on Qetaifan Island North marking Dar Al Arkan’s first entry into Qatar with the aim of driving the development of the luxury property market and supporting the growth of Qatar’s real-estate sector.
In an earlier press statement, Qetaifan Projects noted that work on the development will start in the second quarter of this year and total sales are expected to reach over QR1bn.
Qatar will be the first country in the Middle Eastern to host the FIFA World Cup, which is slated this year from November 21 to December 18. According to al-Shelash, the tournament also serves as a key element in marketing Les Vagues residences by ELIE SAAB to prospective buyers.
“The whole world is coming to Qatar for the World Cup, so this event is absolutely an opportunity for us to promote this project, and it also presents perfect timing for our sales and marketing teams,” al-Shelash pointed out.
During the launch event, Sheikh Nasser previously said: “Following our concerted efforts to provide the local market with international standards that work on developing and revitalising sectors, such as tourism, hospitality, entertainment, and, of course, real estate development, we are happy to bring a new innovative project to Qatar.
“We’re looking forward to working with Dar Al Arkan and ELIE SAAB, a global pioneer in design, on this premium project that is unlike any other in the region. Qetaifan Island North is being developed as the first touristic entertainment destination in Qatar, which will put the country on the regional and global tourism map, and Les Vagues residences is an integral project within the master plan of the development.”
Qetaifan Island North is emerging as a thriving waterfront hub representing a new, modern lifestyle. Inspired by the rich culture and nature of the region, the distinct island will feature a thrilling waterpark, a luxurious hotel, unrivalled accommodation, exceptional retail options, and world-class facilities that make it a vibrant and attractive community.
The island is also a symbol of the vision, insight, and aspiration to develop into an internationally acclaimed and recognised landmark location and Qatar’s future iconic destination.
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