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Home: Editorial comments
The Pearl - Qatar
The Pearl in the crown
Author: Andy McTiernan Saturday, May 14, 2005 at 12:42
Rating:    

The Pearl-Qatar is unfolding with all the panache that its Riviera role model in southern Europe is renowned for. The project that is widely regarded as the freehold jewel in the crown among the elite nautical destination developments taking shape in the Arabian Gulf, has unequivocally risen above sea level. Andy McTiernan returns hotfoot from Doha to report on the ongoing metamorphosis
From the rooftop of the nearby Ritz Carlton the ultimate terrain of this rediscovered island is clearly visible, complete with breakwaters and appropriately reminiscent of a seashell from this lofty perspective. The forward vista across the gently lapping ocean extends to the horizon, and to the right the Doha shoreline of the bay and its buildings stand incandescent in the afternoon sun. The location is indeed beautiful beyond reproach.

Statistically speaking, The Pearl-Qatar covers four million square meters of terra firma, which will divide into ten distinct precincts with an anticipated population of 35,000 people as it reaches maturity. The island’s infrastructure will embrace residential villa homes, mid-rise apartment towers to a maximum of 20 storeys and a complete lifestyle support system, including social, education and medical facilities.

Districts themed with a fusion of Riviera Arabia will pamper residents and visitors via both land and sea, with three luxury hotels, four marinas, combined mooring for over 700 boats and 60,000 decadent square metres of retail and restaurant space. Union Development Company (UDC), the project promoters and developers, expect to welcome the first owner-occupiers to this US$2.5 billion haven of exclusivity in early 2007.

From a legal standpoint, The Pearl-Qatar is currently the only Middle East development to offer complete ownership in perpetuity - an issue settled by a watertight freehold legal framework, which is fully ratified by the Qatari government. The law conferring the absolute right of ownership resolves all matters relating to inheritance and self-determination with regard to the title owner.

Mr Hussain Al Fardan, Chairman of UDC, delivers a very clear and uncompromising message when answering questions from the floor relative to the build quality of the project and it’s mission in life when he says: “Our target is to be the best in terms of quality, maintaining the very highest standards and quality of life”

As has been obvious to keen property market watchers, many developments further afield in the GCC have been subject to intense speculative high volume buying, and Mr Khalil Al Sholy, Managing Director of UDC is swift to dispel this impression relative to The Pearl-Qatar, stating: “We have received offers to buy whole towers, precincts and in fact the whole island, an approach which we have actively discouraged.”

Of the phase one inventory, 60 per cent was taken up by Qatari investors and the remainder by foreign buyers. Khalil Al Sholy has no hesitation in confirming that this was a premeditated allocation process: “The intention was to offer the first phase to Qatari’s out of preference.” However, in a further declaration of intent he is emphatic that: “Phase two will be directed much more toward foreign investors, supported by an active worldwide marketing campaign.”

Phase one, consisting of 43 luxury La Plage West villas and seven apartment towers, in keeping with the pattern applicable to the initial offering of most prestigious island-based projects across the world, was sold out. La Plage West is the first of three ocean front La Plage districts with strong Mediterranean architectural overtones, which will look toward Doha, enjoying sweeping views of the capital´s beaches. There are six distinctive villa design options, ranging from three to six bedrooms, with all residences enjoying their own discrete private pool and beachside manor.

Moving right along to phase two, scheduled for release in the first week of February (so in the words of the song ´the time for hesitations through´). This phase will focus on the La Plage Centrale district containing 50 villas, each with an open seaside aspect, and a further seven towers consisting of 150 apartments each. It is understood that this release will attract a 10 to 15 per cent price increase over phase one.

This particular roving reporter also raised the question of the application of solar energy as a partial source to meet the power requirements of the community, given the abundance of sunshine. Mr Al Sholy confirmed that: ”We will utilise state-of-the-art technology to reduce wastage, however, the island is too small in area to truly make use of solar energy technology.”

I have to say that my daytrip to Doha was an enlightening experience, albeit that the reestablishment of this former pearl fisherman’s base camp is at a relatively early stage of development. A new island haven with all the hallmarks of a Mediterranean setting, located in a fascinating part of the world, will undoubtedly capture the imagination of many as a unique residential environment. Especially secure in the knowledge that as you are only 350 meters from the mainland, it will be immune from the more distressing effects of the elements, close enough to onshore facilities should you feel the need to plunge back briefly into the commercial grind - and therefore, an exclusive island life without tears.

Quite frankly, the design element is splendid, the quintessential architectural elements of time and space will be maintained, the very essence of the Mediterranean will be on your doorstep, and The Pearl-Qatar is without doubt an intelligent investment. What more is there left to say, other than yes, a veritable Pearl in the crown.




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