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Posted On: 2 February 2009 07:50 pm
Updated On: 12 November 2020 02:09 pm

Pearl-Qatar tower attracts buyers

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The response to the Porto Vista residential tower at The Pearl-Qatar has been excellent, according to Qatar Sotheby’s International Realty. The 20-storey luxury tower is set in an outstanding location on one of The Pearl-Qatar’s most spectacular plots. The Land Qatar, in association with Qatar Sotheby’s International Realty, will be sponsoring the reception and private viewing for Sotheby’s first-ever major international auction series in the Middle East, to be held in Doha on March 16 to display Porto Vista. “The sales of Porto Vista opened very recently,” said Jasmine Smith, Assistant General Manager, Sales and Marketing, Qatar Sotheby’s International Realty. “The response so far has been overwhelming. People in Qatar and from other countries are keen on buying the apartments. The one- and two-bedroom apartments and studios are highly in demand,” she told The Peninsula. Sotheby’s have organised a two-day exclusive event to introduce Porto Vista at the Doha Golf Club. Qatar Real Estate Partners “QREP” is the holding company of Qatar, Morocco, Oman and Egypt – Sotheby’s International Realty franchise. “We are highly diligent and selective in the products we list for sale. The developers should meet certain standards to be a franchise. We try to ensure that our client is happy and he is going to come to us again. We looked at a number of developers here and selected a few developers. We have opened in Qatar and Morocco and will hopefully open in Oman and Egypt soon.” Commercial and retail units do not come under the projects of Sotheby’s realty. “We do only residential projects. We are looking into bringing commercial and retail sectors into our business in a few months’ time. We like to specialise and do what we know really well before we bring in another sector into our business,” she said. “When a developer brings us a property and we go into an agreement, the product is not just limited to Qatar. People all over get a chance to see it through the Sotheby’s realty network and buy the property,” she said. “We have already experienced a good response with this project. It will continue in the same manner. We have been working with a few other developers closely and in a few months we will launch other products.” While there is an economic slowdown around the world, Qatar continues to offer a fast-growing economy in 2009, especially in real estate, on the basis of most available official growth projections. This is due to it’s GDP growth, ease of foreign ownership and rapidly expanding population. “Porto Vista offers one of the most sensible investment opportunities in the current property market, hence the response we have received since the recent launch,” she said. Porto Vista will be showcased at Doha Golf Club today.