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Satyendra Pathak
Doha
Investments in Qatar's real estate sector would yield positive results in the long run, Sharaka Holdings Chairman Sheikh Abdulla bin Ahmed al Thani has said.
Sheikh Abdulla told Qatar Tribune that Sharaka Holdings would continue to invest in mega luxury realty projects through its real estate arm 'Le Mirage', as the country requires such projects to prepare itself for the 2022 FIFA World Cup and to achieve the goals of the 2030 Qatar National Vision.
Despite current economic challenges, Sheikh Abdulla said, outlook for the country's realty sector is quite positive in the long-term.
"There is no doubt that the real estate sector in the country is currently facing challenges due to low energy prices. But the challenges are unlikely to continue for long as the country has embarked on several projects to diversify its economy away from the hydrocarbon sector," he said.
"The population of the country has been rising at a fast pace. The population has reached all-time high and expected to increase further. This in turn will increase demand for realty projects in the country. This is the time when real estate companies should invest in projects to reap benefits in the long term," Sheikh Abdulla noted.
Citing Qatar as one of the biggest markets for luxury realty projects in the Middle East region, he said, the country attracts white-collar expatriate workers in large numbers from across the world, to work on various projects.
The influx of high-end expatriates would create demand for luxury realty projects in the country, he said, adding that the size of Qatari nationals interested in such projects was also very high.
In a bid to target this segment, Sheikh Abdulla said, Sharaka Holdings has launched some of the unique projects in the country.
"Le Mirage is the first real estate company in the country that will be building the first air-conditioned rooftop track specialised for jogging in Qatar, on top of our M City Walk project," he said.
Le Mirage City Walk is a residential real estate project expected to be completed by the end of 2018, and will include 400 modern apartments."Built across 93,092 square metres, the jogging track located on top of the five buildings will give runners a bird's eye view of the city, while keeping them safe from the outdoor heat," he said.
Being a Qatari holding company, Sheikh Abdulla said, Sharaka Holdings is more about focusing on improving people's lives than just doing business.
"We don't just build beautiful properties, we create extraordinary environments in which beautiful lives are lived," he said.
"We own and develop the most exclusive properties in Qatar. Every Le Mirage property makes a statement. The hallmarks of a Le Mirage property encompass visionary design, ultimate comfort, stunning efficiency and unparalleled levels of service, safety and security," he said.
Besides M City Walk, he said, Le Mirage is also developing and constructing a range of other luxury real estate projects in Qatar.
"Several new properties in the residential, commercial and hospitality sector are under advanced stages of design, development and construction," he said.
