All the gen on Qatar’s property sector

In the last few years, Qatar - a country that is barely 40 years old - has gained worldwide recognition. Its prominence is partly due to the TV network Al Jazeera, headquartered in Doha, but also to its natural gas resources which are among the largest in the world and have enabled the country to accumulate considerable wealth. But despite the impressive prosperity generated by gas, no one rests on their laurels here. This is particularly true in Doha, where great efforts are being made to expand and perfect the infrastructure which will help to make tourism another of the country's important economic factors.

There are two projects which will add to the panache that Doha has already started to develop. One is called Lagoon Plaza Tower which in fact consists of two towers, located at the seashore, in the heart of the new Doha West Bay Lagoon. This will be a prestigious residential complex also known as Zig Zag Towers. The entire project has been initiated by Dar Investment & Development Company, established in 2004. The strategy was to make a successful entry into the Qatari market by introducing this, the firm's first project in Doha. Zig Zag Towers are 144 metres in height and have 34 storeys each, all in all offering 748 residential units. Both buildings are connected in the centre by a platform which functions as a public plaza with a variety of public amenities such as stores, coffee shops, supermarkets and movie theatres. In the future "Dar" will launch its second project, Palm Towers.

Until a few years ago foreigners were not allowed to purchase real estate in Qatar, but since June 2004 foreign ownership has been granted. However, it is limited to specially designated developments - of which Lagoon Plaza Tower is one - and comes with permanent residency visas for the property owners and their families.

Each tower and each floor has between 10 and 14 units ranging from one to three bedrooms. Amenities include a health club, fitness centre, jacuzzi and steam room as well as round-the-clock security. The project has been open to residents and tenants since July 2009 but units do keep coming up for sale on the market every now and then.

Another interesting development will be located in the city of Lusail, a carefully planned urbanisation project on the east coast, just outside Doha. This planned community will be built on a plot of 35 square kilometres, offering homes to around 200,000 people upon completion. One part of this development will be Paradise Qatar, located in the heart of Lusail and executed by the Qatari-based Al Madar Group, one of the Middle East's most successful real estate companies. Al Madar has more than 15 years of experience and has handed over more than 125 development projects in the region such as commercial office towers, residential tower apartments, hotels and land developments.

Paradise Qatar will offer luxurious and stylish residencies including an impressive array of amenities. The project, in the residential area of Foxhills, is surrounded by business and entertainment districts, yet overlooking parkland, and is strategically designed to accentuate the view of the Gulf. The Paradise Qatar building will be situated on a plot of 2,570 sq m, and will consist of a basement plus four storeys. The basement and part of the ground floor will be for parking. All the interiors will be elegantly designed, all facilities will be easily accessible and there will be free parking with each apartment. Why not become one of the first to own a home in a cutting-edge residence in Lusail, one of the most fascinating developments the 21st century has seen so far?