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Posted On: 12 February 2009 08:24 am
Updated On: 12 November 2020 02:09 pm

The Land unveils new project at Pearl-Qatar

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THE Land Real Estate & Development Company (The Land), one of the region's largest developers, has unveiled Perlita Gardens, a “first private gated community” on The Pearl-Qatar. Perlita Gardens offers the choice of “limited edition” signature villas, four-bedroom villas, four-bedroom town houses and two and three bedroom luxury apartments. In all, there will be 324 units split into four signature villas, 73 semi-detached villas, 37 townhouses and 10 low-rise buildings of two and three-bedrooms. The construction on the project has already begun, The Land sales and marketing director Hussain Fakhri told Gulf Times on the sidelines of the project unveiling at the Ritz Carlton last night. He said the unit price starts at QR3mn for an apartment to QR15mn for the limited edition villas. The Perlita Gardens project is estimated to be completed within two years, he said. “Offering five-star luxury in a secluded location amidst 23, 500sq m of lush, landscaped gardens and serene water features, Perlita Gardens guarantees a superior quality of life for residents within walking distance of The Pearl-Qatar's enticing entertainment and shopping facilities,” Fakhri said. While many developers are either cutting back or cancelling projects, The Land is confident that Qatar's real estate market will generate demand for long-term investments. “With Qatar's ambitious plans on growing its banking and financial sectors and developing media, telecommunications and private health care markets, the sustainability of a viable and competitive property sector is guaranteed for discerning homeowners and investors alike. Researches have shown there is still a heavy demand for quality properties in Qatar and that this will last at least eight more years. Still, demand outstrips supply in the country,” Fakhri noted. He said some 40% investors at Perlita Gardens are Qataris and the others mainly from the region and Europe. Acknowledging that other real estate developers have laid off staff in recent months, The Land cited Qatar's “immense natural resources, growing personal wealth and well-positioned government investments” as the main reasons for its project push in the country. “Early this year we have recruited some people to market our project locally and abroad. We remain quite bullish about our prospects in Qatar,” Fakhri said. In 2013 Qatar's revenues will equal half of Saudi Arabia in dollar terms, thanks to its rapid development in oil and gas industry. The population of the country is also expected to double from 1.6m today to over 3mn within 10 years. “The fabulous turnout and overwhelming response The Land received for Perlita Gardens during the unveiling ceremony is a clear indication that buyers have quickly realised that Perlita Gardens is the gateway to owning their luxury dream home on The Pearl-Qatar, a world-scale development,” Fakhri added.