Qetaifan Island North’s Sales Exceed One Billion Riyals within 12 months and Acquire International Awards
A Remarkable Demand on Plots’ Ownership Despite the Challenges
A New Exclusive Real Estate Product at the End of the First Quarter of 2021, Also for the First Time in Qatar
Qetaifan Projects, owned by Katara Hospitality, announced the awarding of reservations for Qetaifan Island North’s Phase 2 Villa plots at a ceremony held at the Ritz-Carlton Hotel, attended by His Excellency Sheikh Nawaf bin Jassim bin Jabor Al-Thani, Chairman of the Board of Directors of Katara Hospitality and Qetaifan Projects, and His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, Managing Director of Qetaifan Projects and Deputy Chairman of Katara Hospitality, during which investors bid on the first down payment to own a plot in Qetaifan Island North. The ceremony followed H.E Sheikh Nasser bin Abdul Rahman Al-Thani’s sales launching announcement of Qetaifan Island North’s phase 2 villa plots during the press conference held at the Ritz-Carlton Hotel in November.
The ceremony was also attended by Their Excellencies Sheikhs, Ministers, among a number of VIPs, in addition to Qetaifan Projects’ board members; Eng. Jamal Al-Kaabi, and Mr. Hamad Al-Kubaisi. Mr. Hesham Sharaf – Chief Operating Officer, Mr. Jean Antonios – Chief Legal Officer, Sheikh Nasser bin Abdulaziz Al-Thani – Head of Business Development Department at Qetaifan Projects, and Mr. Nasser Hassan Al-Ansari – Chairman of the Board of Directors of Just Real Estate Company, the Sales Agent were also present. The ceremony was also attended by a group of VIPs and investors wishing to own property in Qetaifan Island North, and the attendees were keen to adhere to the precautionary and preventive measures set by the Supreme Committee for Crisis Management and the Ministry of Public Health.
On this occasion, His Excellency Sheikh Nawaf bin Jassim bin Jabor Al-Thani – Chairman of Katara Hospitality and Qetaifan Projects, affirmed that “the demand for investment in phase 1 of Qetaifan Island North reflects the position the company has reached in the local real estate development market, indicating that the project represents a starting point for Qetaifan Projects towards developing more projects and serving various state sectors.
His Excellency also added that investors aspire to benefit from the returns of Qetaifan Island North project through the safe environment achieved by the state to encourage and attract foreign investments and create new opportunities, noting that this will positively affect the local market and will encourage competition and inspire the state’s sectors in all fields. Especially that these sectors have witnessed a remarkable revitalization in recently. As Qetaifan Island North is part of Lusail city, and features seven beaches, which makes it a distinctive waterfront for the city. The island spans 1.3 million sqm, and the area of projects on the island extends to approximately 830,000sqm. He continued “We believe in the future of Qetaifan Island North and are working hard and sincerely to make the island a pioneering touristic destination.
His Excellency explained that Qetaifan Island North serves the plans to host the 2022 World Cup, as it provides modern facilities capable of accommodating a large number of hotels, retail outlets, restaurants, and unique recreational facilities such as the waterpark and the vast green spaces. Whereas, Qetaifan Island North represents a commitment to investing in the development of the tourism industry and strengthening the hospitality sector in Qatar, indicating that Katara Hospitality’s vision aims to change the world of hospitality through investment and innovation, which would leave a prominent legacy for future generations in line with Qatar’s National Vision 2030.”
His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, Managing Director of Qetaifan Projects, expressed his delight with this achievement, saying: “We went through a difficult year, like everyone else, but we succeeded in defying the difficulties and the ambition of the whole team at Qetaifan Projects during this year is an example of the victory of human will in the face of challenges, and we consider our achievement of this volume of sales and the demand that we have witnessed on Qetaifan Island North’s villa plots under the current circumstances an achievement and an example to be emulated in dedication and sincerity of work, and this in turn reflected positively on the investors’ trust in Qetaifan Projects and investing in the island, in addition to the promising future they see in Qetaifan Island North project in line with Qatar Vision 2030 and in line with the country’s ambitions to develop the tourism and hospitality sectors, as well as the real estate development sector.”
A New Real Estate Product for the First Time in Qatar
The bidding activities witnessed a turnout of investors and owners to own property in Qetaifan Island North, and they expressed their contentment with this ambitious national project, which is considered the first entertainment touristic destination in Qatar, due to the unique facilities that the island has to offer. The new real estate product, which was launched for the first time in Qatar, has witnessed a remarkable demand by investors. In this regard, His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, Managing Director of Qetaifan Projects, added, “The real estate development process is not limited to construction only. But it is a process that begins first with a study of the market and its needs and based on supply and demand, the real estate product is determined, and here, innovation plays a major and important role in bringing about new, innovative real estate products with investment returns that benefit the owner and increase the value of the project as a whole. Based on our study of the local market, we saw that investing in a residential villa overlooking a 5-star operated beach is currently not available, and we decided to provide a luxurious and unique lifestyle for villa owners in addition to the luxury that fits the general framework of living in Qetaifan Island North as the first entertainment touristic island in Qatar. ”
Bidding Activities and the Launch of Another New and Exclusive Product in Qetaifan Island North
Since Qetaifan Projects is keen on providing equal opportunities for all and to ensure transparency, the same sales mechanism that was used in phase 1 which was accepted by investors was applied; through bidding on the first payment in front of all investors wishing to own property in Qetaifan Island North. On this occasion His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, Managing Director of Qetaifan Projects valued this mechanism, saying, “We were keen in Qetaifan Projects in the second phase of sale, and after the opening of reservations, to work hard on our marketing plans so that our products reach everyone without exception and that everyone has equal opportunities, using most if not all available and possible means of communication, and our campaigns are based on advertising on the company’s social media platforms and media such as talk shows, radio, SMS campaigns, and online advertising. Accordingly, our efforts culminated with everyone attending the bidding ceremony. We promise the new investors and those wishing to own property in Qetaifan Island North that this is not the end, we still have more distinctive real estate products in our portfolio, that will actively contribute to reshaping and developing the real estate development market in Qatar. On this occasion, Qetaifan Projects is proud to launch the new residential product, which is “Duplex” units in limited quantities within the South Mid-rise towers on the marina. These distinct units are characterized by unprecedented privacy, whether in terms of design or implementation, as each unit has a swimming pool, parking lot and its own garden, in addition to a private entrance for each resident to his unit, a spa, and separate rooms for workers. The units come with an average area of 450 square meters, and this product will be launched for the first time in Qatar at the end of the first quarter of next year. His Excellency indicated that the auction activities were carried out within the legally recognized controls in addition to the application of terms and conditions. In line with Qetaifan Island North’s developers’ goal in preserving the environment and sharing Qatar Vision 2030 in establishing long-term sustainable projects and in order to increase the green areas on the island, each owner got a gift that is an olive tree to be planted in the villa.
On this occasion, Mr. Nasser Hassan Al-Ansari, Chairman of Just Real Estate Company, added: “We at Just Real Estate view it as an honor to represent such an exceptional project which we firmly believe will be a new benchmark for destination development and management not only within this country but well beyond our homes shores. This sales result is a massive vote of confidence in the iconic Qetaifan Island destination which will be a flagship to modern lifestyles within the country and its tourism and leisure potential. It is also a clear signal to the local, regional, and international markets of the resilience of Qatar’s real estate sector which still holds out highly positive investor returns as we head towards the 2020 hosting of the FIFA World Cup.”
Achievement and International Awards Despite the COVID-19 Pandemic
“… as if nothing happened” This is how His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, Managing Director of Qetaifan Projects expressed the year 2020 and he continued, “This year has witnessed many challenges that may seem to some as obstacles, but we at Qetaifan Projects have succeeded in overcoming obstacles and we turned challenges into opportunities. ” His Excellency added, “First, and since Qetaifan Projects is keen to ensure good health for everyone, we have worked to develop a strict plan to adhere to all preventive measures set by the Supreme Committee for Crisis Management and the Ministry of Public Health, in order to ensure the work progress without affecting the schedule of the project and we achieved more than 5 million working hours on site without any injuries, other than the small number that was replaced among the 7000 workers who work 24 hours a day, 7 days a week. We also signed a contract with Sarner International to implement the edutainment tour in the waterpark, which will witness 3D mapping and augmented reality about the story of oil and gas discovery in Qatar, to enrich the Qatari culture. We also signed with Severn Lamb to manufacture the trains that will connect the waterpark with the Icon Island, as well as Interlink Company. As for Qetaifan Projects team, the Finance team got the accreditation of the Association of Chartered Certified Accountants, also 7 employees received memberships at the Chartered Institute of Marketing, and the Marketing Department received the Marcom Award for Excellence and Innovation as the best team achievement for phase 1 sales campaign. We have been awarded the Best Place to Work Award in Doha, and our efforts have recently paid off by obtaining the award for the Best Real Estate Development Company in Qatar 2020 from the Global Business Outlook, and one of our most important achievements remains the dependence on the local market, which reached 90%.”
In conclusion, after completing the bidding process, and on behalf of Qetaifan Projects, His Excellency Sheikh Nasser bin Abdul Rahman Al-Thani, Managing Director of Qetaifan Projects, thanked all the investors and attendees, saying, “We can only express our gratitude to all of you for your attendance and confidence in Qetaifan Projects and Qetaifan Island North project. This demand for ownership on the island means a lot to us and places more responsibility on our shoulders as a company and team towards this huge national project through which we seek to lay the foundations for development in all fields, especially the field of real estate development and contribute to serving the state sectors. His Excellency added, “We always strive in Qetaifan Projects to keep pace with the development that the country is witnessing recently in various sectors by providing innovative real estate solutions of international quality, and we must repeat, that all involved parties; starting from the team and ending with the investor in addition to the partners, whether local or International are winners and lucky to work on this project, and we still have more plans and products that will enrich the real estate development market in Qatar, all at competitive prices.”