Doha: Qetaifan Projects, the master developer of Qetaifan Island North (QIN), yesterday launched the sale of phase 3 residential villa plots for the much anticipated island project, which is expected to start its operations in November. To date, construction for QIN’s phase 1 projects, which include the aqua park, 5-star hotel, and other infrastructures such as the linear park and retail plaza is now 80 percent complete, Managing Director of Qetaifan Projects Sheikh Nasser bin Abdulrahman Al Thani has also announced.
Addressing a press conference, Sheikh Nasser said the sales launch was a response to the huge demand for residential real estate ownership at QIN. To date, phase 1 and phase 2 villa plots at the island have already been sold out, with sales previously exceeding QR1bn in just 12 months.
Managing Director of Qetaifan Projects Sheikh Nasser bin Abdulrahman Al Thani (left) with Chairman and CEO of Just Real Estate Nasser Hassan Al Ansari, during the press conference at the Ritz-Carlton Hotel, Doha, yesterday. Pic: Abdul Basit
“After a comprehensive and careful study of the real estate market we announce the sales launch of the third phase of residential villa plots in Qetaifan Island North – a total of 40 villa plots, comprising of beach access villas, waterfront, garden view, and for the first time villas overlooking Qetaifan Island North’s linear canal,” said Sheikh Nasser.
He added: “We have introduced new plots due to the remarkable demand for ownership on Qetaifan Island North and in response to the requirements of the market, which has been witnessing remarkable growth lately, especially after the implementation of the Freehold law for non-Qataris, in addition to allowing those who have not had the chance to own plots in phase 1 and 2, at competitive prices and financing facilities for both owners and investors”.
In addition to the beach access, waterfront, and garden view villas, a number of plots will also be offered for the first time to allow owners to build villas that enjoy privacy and access to a distinctive view of Qetaifan Island North’s linear canal and the sea. The plot areas range from 1,000sqm to 2,060sqm.
The waterfront plots areas range from 1,020sqm to 1,250sqm, and the garden view plots reach 1,200sqm. The design of villas allows the owners to construct a ground floor in addition to two floors including the first floor and a penthouse.
“To guarantee transparency and in accordance with the principle of equal opportunities, we will follow the same sales process of phase 1 and 2, which is bidding on the down payment. All those who reserved plots in Qetaifan Island North will be invited to a bidding ceremony that will be held at a hotel. Reservations will start immediately after the conference ends,” Sheikh Nasser added.
Head of Business Development at Qetaifan Projects Sheikh Nasser bin Abdulaziz Al Thani
Currently, construction work at Qetaifan Island North is under way 24/7, with over 7,000 workers and seven contractors implementing seven different project packages.
“The teams are putting all their efforts to present this project in a way that suits Qatar as the first Arab country hosting the FIFA World Cup. Everyone works sincerely and with dedication, believing in the importance of this project, its promising future, the diversity it will add to sectors such as tourism and hospitality, and how it will contribute to the future of the entertainment industry, which will stimulate domestic tourism and attract tourists from all over the world. And, one of our most important achievements, which we are proud of is our 90 percent reliance on the local market,” Sheikh Nasser said.
The large-scale mixed-use development which will also feature hotels, recreational facilities, beaches, retail, a school and a medical center in addition to the residential villas, has already won a number of international real estate awards.
Qetaifan Projects was recently awarded the Best Mixed-Use Development in the world for Qetaifan Island North development by the International Property Awards in the UK, where the company was selected among 120 real estate developers around the world.
“This, in addition to two regional awards, which puts more responsibility on us and opens the way for us to develop more sustainable projects that will benefit the country and align with Qatar’s Vision 2030,” said Sheikh Nasser.
Also speaking during the event, Chairman and CEO of Just Real Estate Nasser Hassan Al Ansari said: “The sales launch of the third and final phase of Qetaifan Island North’s residential villa plots is a milestone in the development of Qatar’s future iconic destination, as Qetaifan Island North represents an unparalleled opportunity for investors to invest in a project of national importance and benefit from its financial returns. The third phase was prepared based on what was requested in the previous phases.
“This family destination will serve as an investment magnet offering a great mix of entertainment, residential, hospitality and retail opportunities. Phase 3 investors will be those looking for a distinguished lifestyle,” he added.
Head of Business Development at Qetaifan Projects Sheikh Nasser bin Abdulaziz Al Thani (pictured) also announced during the event that distribution of the sales & purchase agreements for phase 1 and 2 plot owners will start from March 20.
Other officials who also attended the press conference were Qetaifan Projects’ Chief Operating Officer Hesham Sharaf and Chief Legal Officer Jean Antonios, Nasser Al Mawlawi, Mohamed El Emadi, Group Chief Business Officer at Masraf Al Rayyan, and Ahmad Al Boainin, Erfan Sherif, and Amena Tena from Katara Hospitality.
