Qatar property gets boost from Barwa deal

Qatar-based Barwa Real Estate Company has agreed to purchase a plot of land for its landmark Al Khor Resort project.

The resort will offer people looking to buy property overseas with a range of options, including residential apartments, bungalows and beach chalets. The completed resort will also boast hotels, a marina and leisure and sports facilities including an 18-hole golf course.

The site for the property project was bought from owners Quatari Diar Real Estate Investment Company. It is expected to take up to five years to complete at an estimated cost of QR5 billion and will stretch for almost eight million square metres.

The property will be located on the north-east coast of Quatar, but the developers have pledged to respect the area's environment and ecology during the construction. The site is also situated close to Ras Laffan, which will fuel demand for property because of its importance as a centre of the oil and gas industry in the Middle East.

Chief executive officer of Qtari Diar, Nasser Hassan el-Ansari told the Gulf Times the project "provides immense investment opportunities for foreigners".

Those interested in investing in overseas property can find further information at homesgofast.com.

© Adfero Ltd

08/05/2006

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