The Pearl-Qatar

09/08/2008

Qatar is quickly emerging as the Arabian Gulf’s most alluring leisure destination, and its most prominent gem is The Pearl-Qatar. Though the multi-billion dollar offshore island is in its initial phases of completion, The Pearl-Qatar has already become the destination of choice for investors and residents from 32 countries. They know that living the good life on a paradise island, surrounded by sun and culture, is worth reserving a space well in advance. 

The enthusiastic response is also due to all-encompassing vision of The Pearl-Qatar’s developers, United Development Company (UDC), who saw the potential to create one of the world’s most exclusive seaside communities, but with the cultural and culinary amenities of a high-end resort. “Our aim was to develop a world-class, lifestyle destination for the benefit of Qatar and the world,” says Walid Maalouf, general manager of UDC’s Hospitality Development Company. “It has been designed to convey a feeling of glamour, exclusivity and sophistication.”

Those three words will certainly describe The Pearl-Qatar, but another word to describe it is “grand.” The island will span over four million square meters when it is completed by 2011, although the first home owners are now moving into the luxury residences located on its 20 miles of coastline. The Pearl-Qatar will eventually include 10 precincts with 16,000 dwellings that over 41,000 residents call home. The master plan also includes five-star hotels, schools, gourmet restaurants, a yacht club and 1,000-slip luxury marina.

While those numbers are impressive, UDC has taken great pains to ensure a private, exclusive lifestyle for its residents, similar to the most upscale ports on the French or Italian Riviera. Unlike Europe, The Pearl-Qatar can offer exceptional year-round weather to its residents, in one of the most pristine settings in the Middle East. The island’s beaches and marinas offer instant access to the water.

Beyond its natural endowments, the community will have two million square feet of upscale retail space, much of it devoted to designer labels stores and custom boutiques. Over 250 of these shops will be located in the Qanat Quartier, an ensemble of cafes, upscale salons and specialty boutiques bordered by elegant townhouses. Like Venice, the Qanat Quartier is crisscrossed by scenic canals bustling with water taxis. Qanat’s sailing clubhouse even has elements of the Tuscan countryside.

Think of a modern Venice transported to a sunny climate, complete with the cultural assets of art galleries, a formal Museum of Art, and many antique stores. The Qanat Quartier, which will be completed by the end of 2009, will even have its version of Venice’s Rialto Bridge on its own Grand Canal. “People visiting Qanat Quartier will be struck by the majestic view from that bridge,” says Salim Abdul-Rahim, The Pearl-Qatar’s general manager of sales. “Though Qanat Quartier is young and fresh, its key attractions are truly reminiscent of Venice’s oldest landmarks.”

Yachtsmen will also be attracted to the new 1,000-berth marina, the largest of its kind in the Middle East. It is certain to become an instant cruising stop for superyachts. Ronautica Middle East LLC, a joint venture between UDC and Ronautica, the Spanish marina management firm, will manage the five-star marina and develop yachting-related activities for the entire region. The marina’s scope and quality were so impressive that it garnered CNBC’s “Best International Marina Award” in 2007.

The Pearl-Qatar will also be one of the technologically advanced communities in the world, employing a range of “smart” technologies to minimize pollution, save energy, and protect the local environment. The Pearl-Qatar is the first project of its kind in Qatar to adopt the Envac waste disposal system, a technology that will be installed around the island to reduce waste transportation and improve hygiene.

But The Pearl-Qatar is also a smart financial haven, offering its new residents full residency rights, freehold ownership and a tax-free haven. As Qatar joins the ranks of the wealthiest and most advanced nations, it is also investing in infrastructure to transform itself into a world-class destination for tourists. Towering skyscrapers rise on the edge of the bay in Doha, its capital, while high-end shopping malls and luxury hotels cater to its visitors. A new airport, which will be able to handle over 50 million passengers each year, is also in the works.

The gem in the crown will be The Pearl-Qatar. “There is a difference between a real estate project and creating a destination,” says Maalouf. “Why should people come here or visit? There is a huge emotional component.”

For most residents, that emotion will be the feeling of coming home.

From United Development Company

Mira El-Baphe
Senior Media Relations Officer
Tel: +974-5970433 – Fax: +974-4438971- email: mira@udcqatar.com
The Pearl-Qatar website: www.thepearlqatar.com
UDC website: www.udcqatar.com

About  United Development Company:

United Development Company (UDC) is one of Qatar’s leading public shareholding companies. UDC’s mission is to identify and create opportunities that contribute to Qatar’s growth and provide good shareholder value. The Company was established in July 1999 and has an authorized share capital of QR 1.0725 billion (US $294 million). It was listed on the Doha Securities Market in June 2003.

UDC’s target areas of interest include: infrastructure and utilities, hydrocarbon and energy, urban development, environment-related businesses, fashion, and hospitality and leisure.

From day one, the Company’s mandate and mission has been to become a cornerstone in the development that the region is currently witnessing; creating lasting value and maximizing returns for partners and shareholders. Through a combination of project activities and commercial enterprise, UDC has developed into the first-choice private sector joint venture partner for international investors in Qatar, and has successfully established new companies and investment vehicles across the region.

Since 1999, UDC has moved from project research into development, production and operations. Project research has culminated into the successful creation of companies that are amongst the leaders in their related fields of industry.  The Company prides itself in its ability to create quality investment opportunities both at home and overseas. The company is empowered to invest in financial instruments in Qatar.

UDC’s founders, who at launch held 45% of the shares, are among Qatar’s most successful investors and developers. Other Qatari and GCC investors are also shareholders in UDC.