Maximizing Value for All Stakeholders: The Benefits of QIN on the Real Estate Value Chain in Qatar

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The “value chain” concept in real estate development has become increasingly important, as it plays a key role in strategic planning. This value chain encompasses the entire process of “Creating”, “Developing”, and “Delivering” real estate projects, from conceptualisation to construction, enabling projects’ commercial viability and contribution to other sectors and the overall market.

maximizing qin
Understanding and considering the 3-value chain is a fundamental key business drive of Qetaifan Projects. As a result, a multitude of benefits are unlocked for all involved stakeholders.
Development, in general, is a very dynamic process, especially Qetaifan Island North (QIN) development. This is due to its uniqueness and speciality in the real estate product mix and what it offers to the end user.

In this article, we will present the advantages of QIN, which adheres to the real estate value chain and ultimately creates a win-win situation for developers, investors, communities, and consumers.

1. Efficient resource allocation:
Following the real estate value chain enables developers to allocate resources effectively. This means careful planning, including allocating funds, labour, and materials, resulting in cost-effective development. Qetaifan Projects’ development strategy is divided into two phases.

By 2023, Phase 1 of the development of (QIN) had been completed, allowing the island to establish itself as an exclusive destination on the market. These include the island’s infrastructure, canal, linear park formation, Mosque Twenty-Seven, Meryal Waterpark, Rixos Qetaifan Island Hotel, Azure Beach Club, and the Retail Plaza.

Phase 2—Qetaifan Projects will offer B2B and B2C investment opportunities for mostly residential and mixed-use properties besides the development. It notes that community services such as medical and educational components are offered on a Build-Operate-Transfer (BOT) basis to ensure the overall development is well-serviced before occupancy. This will increase property value and, hence, optimise investors’/owners’ returns on investment through this efficient resource management strategy.

2. Risk Mitigation
By following the value chain, developers can identify potential risks and challenges at each stage of the development process. This proactive approach allows risk mitigation strategies to be implemented, resulting in fewer costly setbacks.

As a real estate developer, Qetaifan Projects recognises various relevant development activities, including potential risks and challenges. These risks and challenges may have positive or negative outcomes. Managing these risks systematically and proactively is vital to addressing them properly and on time. As the project progresses, the continuous monitoring/reviewing and communicating/consulting process supports decision-making and risk management. Monitoring the effectiveness of the risk management process will reassure investors that there will be minimal financial risk.

3. Quality Assurance:
Quality control measures are required at all value chain stages, from design to construction to post-development. During construction, the Qetaifan Project adheres to integrated design guidelines. In addition, it has a set of design codes and guidelines that explain the masterplan intent, its districts and parcels, and guidelines for various development typologies. This ensures implementation in each district following the Lusail Development planned by Qatari Diar Real Estate Investment Company as the master developer.

General development rules, standards, guidelines, constraints, expected form, style, and material treatments explain typical and mandatory controls. Complying with other statutory documents and codes issued by the Ministry of Municipality and Urban Planning and other Government departments and authorities is also obligatory.

Qetaifan Projects is committed to integrating the highest quality and ensuring that the final real estate product meets or exceeds industry standards. As a result, investors and buyers have greater confidence in the developer.

4. Confidence-building for investors:
Real estate developers who follow the value chain build a reputation for reliability and transparency. Investors trust developers who consistently meet their commitments, leading to increased investment opportunities.

Qetaifan Projects delivers qualitative emotional value based on know-how, performance, experience, and vision that reflects the organisation’s activities in the eyes of investors. This represents a shift from the investor’s perception of the brand to the relationship with the brand and translates into consumer behaviour, which leads investors to be loyal to the corporate brand “Qetaifan Projects.” Furthermore, it is possible to observe the results of this behaviour directly in the form of sales.

5. Community Engagement:
A key aspect of the value chain is stakeholders’ engagement, including the local community. Lusail City provides an environment for businesses and families that attracts discerning investors seeking freehold property opportunities.
To complement the community positively, Qetaifan Projects develops a vibrant world-class master-planned district with a coherent and self-sustaining urban environment, including residential villas, mixed-used towers, retail and F&B shops, a recreational linear park, a one-of-a-kind waterpark, Meryal, an all-inclusive hotel, Rixos Premium Qetaifan Island North Resort, a school, a medical centre, and Mosque Twenty-Seven.

This approach can result in goodwill, positive project approvals, and support from local authorities.

6. Sustainability Practices:
Following the value chain often involves adopting sustainable development best practices. All buildings and landscape areas are expected to meet the GSAS 2 Star Rating requirements established in GORD, 2019, Lusail City. This applies to the design of energy-efficient buildings, thermally comfortable outdoor spaces, and water consumption in landscape areas that should use native and drought-tolerant plant species and low-water use irrigation systems.

Qetaifan Projects focuses on the bioclimatic design of architectural components that greatly impact building energy efficiency and human thermal comfort. Further, it also focuses on aspects of water conservation, waste management, and the use of sustainable building materials.

Bioclimatic design advice is based on analysing the climate in Doha and using the standard historical weather data to build thermal performance simulations available for that location.

Following these sustainable practices and guidelines that provide a significant sustainable improvement, the Master Developer may offer incentives, including GFA gains. These will be considered on a project-by-project basis and can encourage developers, investors, and buyers alike to make environmentally responsible choices that benefit the environment and appeal to the environmentally conscious.

7. Market Competitiveness:
It is known that developers who follow the value chain are more competitive because by demonstrating a track record of successful projects, adhering to timelines, and building a reputation for high-quality work, they attract more investors and buyers, resulting in a rise in their business. Ultimately, based on its extensive real estate development know-how, Qetaifan Projects wishes to be perceived locally, regionally, and globally by the end user and investors as a result-driven brand. Further, as a brand, Qetaifan Projects is eager to be associated with offering different qualitative values to the real estate market.

Qetaifan Projects has established high industry standards by pushing real estate development boundaries and investing in the work environment and the staff, which will affect deliverables, progress, and investors’ returns.

8. End User Benefit
Developers who follow the value chain deliver a high-quality product to end users. This will likely increase customer satisfaction and lead to more positive referrals from others.

Qetaifan Projects acknowledges that end-users are the main source of demand, and their role in sales is pivotal. Providing customer-centric services catering to their needs and preferences is a paramount business goal for Qetaifan Projects. To be able to approach that seeks to create, develop, and enhance relationships with carefully targeted customers to improve customer value. Given what Qetaifan Island North offers, from hospitality to entertainment, retail to recreation, and community facilities such as the mosque, school and medical centre, it is an ideal location for long-term investments.

Qetaifan Island North is a thriving waterfront hub representing a thrilling and innovative way of life. As a future iconic destination for Qatar, it represents vision, insight, and aspiration.

9. Long-Term Sustainability:
Developers contribute to the long-term sustainability of their businesses by following the real estate value chain. A strong foundation for future growth and prosperity is built on satisfied stakeholders, sustainable practices, and successful projects.

Qetaifan Projects is committed to developing an innovative real estate product mix, leaving its mark in the local real estate market, and establishing the brand internationally by offering high-standard projects to improve consumers’ lifestyles based on 3 core values: hospitality, leisure, and entertainment. In addition to contributing to Qatar’s national vision of 2030 through a mix of dedicated, well-experienced, and enthusiastic staff, creating an exceptional workplace and preserving and respecting cultural values, the company serves all stakeholders.

Conclusion
In the real estate development industry, the value chain is not just an effective practice; it’s a strategy that benefits all stakeholders involved. Developers, investors, communities, and end-users can all reap the rewards of efficient resource allocation, risk mitigation, quality assurance, and timely project delivery. It is directly affected and dependent on multiple continuously changing factors such as market conditions, economic factors, investors’ interests, and social factors. This is why the real estate industry is a crucial and integral part of any economy.

Therefore, continuous assessment and analysis of all these factors is required to ensure that development corresponds to them and is progressing in the right direction towards achieving its strategic objectives and targets. Further, adhering to the value chain fosters trust, enhances reputations, and promotes sustainability, ensuring benefits extend well into the future. It’s a holistic approach to real estate development that creates a win-win situation for everyone involved.

REFERENCES:

  • Planning & Design Guidelines Qetaifan Island North District, Rev 1 – Lusail City March 2022
  • Qetaifan Island-North Project, Business Plan 2023 (updated)
  • Qetaifan Island North Master Plan, Detailed Master Plan Vol. 1, Atkins – July 2019
  • Real Estate Value Chain, LeverageJoe – 21 October 2015