The Pearl Qatar stretches on 14 million square feet, and has been valued at USD 2.5 billion. It is considered a fully integrated community, offering a mix of properties including varieties of apartments off the coast of Doha, Qatar. Both a community and a tourist destination, the creation of the Pearl Qatar aims to diversify the country’s economy and propelling the property sector in Qatar. Built on a former pearl diving site, the brand pays tribute to its strong historical and cultural ties to the sea. The Pearl Qatar is poised to provide a slew of supply of residential units for sale in Qatar, including 30,000 apartments on the man-made island.
The Pearl includes many thematic districts including Porto Arabia and Viva Bahriya which comprise 60 towers with around 13,000 apartments for freehold sale, mainly residential apartments. The Qanat Quartier and Abraj Quartier contain about 2,300 apartments. Giardino Villas which is the biggest villa district is comprises of nearly 250 villas that is around 20% of all villas within The Pearl. Upon completion, the master community may accommodate nearly 1,300 villas of different sizes, including some exclusive villas with private beaches. The most magnificent district is Isola Dana which has 9 private islands with an average plot size of 18,000 square meters, and private yacht docks; all the islands are connected to a common main road of The Pearl.
The Pearl Qatar will be always remembered to have started the renaissance of the Qatar real estate sector, in a way similar to some landmark communities in the region, instigated big residential property sales boom as unlike other areas of Qatar, the project is designated as freehold where any expat may own a unit. The Pearl Qatar remains as the preferable location for the outsider retail investors. Localities such as Al Sadd, Bin Mahmoud, and Al Nasr, however, may obtain equal demand on their properties due to accessibility, but remain behind the man-made Gulf island. Furthermore, the Pearl Qatar contributes the highest supply in residential apartments in Doha, followed by West Bay district. Minor appreciation has been seen in the Pearl property sale prices; currently, freehold properties are available in the range of QAR 10,000 to 14,000 per square meter on net saleable area.
In the same line, the Pearl Qatar and Diplomat districts, command as always higher rental fees than other localities with rental prices surging last year. This appreciation was noticed across Doha and in peripheral areas, including both apartment and villa segments.
Adding to the properties and residential apartment sales, the Pearl Qatar will be home to seven premium hotels; upon completion, around 1,600 keys will be delivered. Ultimately, the Pearl is a unique beachfront metropolis that will be home to 50,000 inhabitants enjoying the best real estate offerings in the region. Qatar’s positioning as a family friendly destination is drawing a lot of residents to the Pearl and boosting its properties’ sales.