United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has announced that it is approaching full occupancy of its 1,123 residences at The Pearl Island, which are currently 93% occupied or reserved for upcoming lease.
UDC’s residential leasing portfolio covers various units in Porto Arabia, Medina Centrale, and Qanat Quartier, in addition to Al Mutahidah Towers in Viva Bahriya and Giardino Gardens villa compound where 73 out of a total 80 villas were leased since the compound inauguration in September 2021.
While overall residential occupancy at The Pearl Island recorded an all-time high with 52,000 current residents, UDC reported a significant increase in demand for rental units this year in the run-up to FIFA World Cup Qatar 2022, where UDC allocated 318 units to the Supreme Committee for Delivery & Legacy in Medina Centrale and launched 58 fully furnished and all-inclusive apartments for short or long-term rental at The Pearl Island with World Cup visitors’ convenience in mind.
Retail business also picked up at the Island where 17 new stores launched their operations so far in 2022 with 31 more openings anticipated by year-end, bringing the total number of operational retail and F&B brands to 360 covering around 158,000sq m.
UDC forecast the influx of 19mn vehicles to The Pearl Island in 2022, a significant 13% increase from 2021 figures. This reflects the island’s leading position as a popular lifestyle, retail, and leisure destination among Qatar residents, as well as foreign visitors and tourists.
While overall residential occupancy at The Pearl Island recorded an all-time high with 52,000 current residents, UDC reported a significant increase in demand for rental units this year in the run-up to FIFA World Cup Qatar 2022, where UDC allocated 318 units to the Supreme Committee for Delivery & Legacy in Medina Centrale and launched 58 fully furnished and all-inclusive apartments for short or long-term rental at The Pearl Island with World Cup visitors’ convenience in mind.
Retail business also picked up at the Island where 17 new stores launched their operations so far in 2022 with 31 more openings anticipated by year-end, bringing the total number of operational retail and F&B brands to 360 covering around 158,000sq m.
UDC forecast the influx of 19mn vehicles to The Pearl Island in 2022, a significant 13% increase from 2021 figures. This reflects the island’s leading position as a popular lifestyle, retail, and leisure destination among Qatar residents, as well as foreign visitors and tourists.
