The National Leasing Holding Company (NLHC) released the names of Qataris who had won a raffle held to receive plots to construct villas in Lusail City, yesterday. Last year, the company had signed an agreement with Qatari Diar to purchase the property at Lusail to create an exclusive community for Qatari citizens. One of the major inspirations behind the project was to create a community that would ensure the preservation of Qatar’s unique cultural identity well into the future.
The company received over 37,000 applications since the announcement of the offer, which was available for pre-qualification for the raffle to Qataris aged 18 and above. The electronic draw was attended by officials of NLHC, Shariah Board, Qatari Diar, Ministry of Business and Trade, and Deloitte and Touche.
Each lot has been assigned to an entitled winner (895 individuals) and four preferred alternative buyers for each lot. The winner of each plot will have first rights to purchase the property. If the winner does not claim the land in 10 days, the four alternative buyers are allowed to purchase the property.
“This is the first location in Qatar dedicated to building an exclusive community for the citizens and the response to the offer has been outstanding,” said Ibrahim Abdulla Al Abdulla, General Manager of National Property Development, a subsidiary of National Leasing Holding.
“An overwhelming number of Qataris have applied to own a plot at Lusail Land. Never before has any property offer attracted such a large number of citizens and this is proof of how successful Lusail Land will be, once complete. It is also a reminder that societal and traditional values remain a distinct priority for Qataris of all ages.”
The draw, originally scheduled to be held in late 2008, was postponed due to the large number of applications for the lots. “The processing and planning of these applications took some time to finalise. The global financial crisis, though it had little impact on several aspects of the Qatari economy, still left many Qatari investors speculative. The return of robust investor confidence and the continuing growth of the Qatari economy have made this the most appropriate time to complete the selection of candidates,” said Al Abdulla.
Lusail Land, as the project is currently known, pending its development and subsequent re-branding by the master developers, Qatari Diar, is being offered by NLHC at competitive rates. The holding company is also offering a lucrative Shariah-complaint finance scheme with a repayment period of six years, beginning from the date of the agreement, comprising annual instalments of 20 percent of the total price.
The agreement will stipulate that all buyers commit to the retention of their property with no extensions or sales permitted until project completion and issuance of title deeds on full payment of the sale value.
The Lusail Land community will concentrate solely on preserving the cultural and traditional identity of the people. The advantages of Lusail Land for home owners include large built-up living spaces and a safe communal environment that accentuates a master plan that provides broad infrastructural facilities, including dynamic electricity, water and drainage systems, as well as a capacity-planned road network. Lusail Land will also include mosques, schools and shopping centres, as well as other social amenities including landscaped common areas and round-the-clock security.
All primary winners of the draw can confirm their purchases immediately by calling 4100400 or visiting the Lusail Land Purchase Registration Centre at the Doha Marriott between April 30 and May16. Details of the winners are on the website www.alijara.com.
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