Qatar- Real estate majors showcase projects at Cityscape

By Mohammad Shoeb

DOHA: The Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani yesterday opened the Cityscape Qatar 2016 exhibition at Doha Exhibition and Convention Center (DECC).

The Minister along with distinguished guests senior diplomats and scores of business leaders from leading companies and banks toured the entire exhibition hall. Sheikh Ahmed also visited many pavilions and interacted with the companies executives who explained to him about their projects.

The fifth edition of ‘Cityscape Qatar 2016’ is the world’s leading real estate event portfolio for emerging markets where more than 90 exhibitors from around the world including Turkey the UK the UAE and many other countries from GCC and broader Middle East are showcasing both new and current projects. In addition there is a long list of local exhibitors including many real estate giants such as United Development Company (UDC) and Ezdan Holding Group (Ezdan).

Ezdan has displayed full details of its flagship residential project ‘Ezdan Oasis’ which is expected to accommodate more than 35000 people. The project includes integrated services such as mosques sports clubs schools shops and offices as well as more than 8769 residential units.

“Ezdan Oasis is one of the most important projects we are implementing. The first phase of the project is expected to be completed by the first quarter of 2017” Ali Mohammed Al Obaidli Ezdan Holding Group CEO told The Peninsula on the sidelines of the event.

He added: “The project located in Al wukair area will be a remarkable leap to the region in terms of increasing population density and the provision of appropriate units that would meet the Qatari market demand for housing units.”

Obaidli said that more than 60 percent of the project is complete in terms of infrastructure works as well as various and diverse facilities.

He also explained that the project features modern residential concept as of the integrated different services it provides especially that the project is spread over a vast land space given preference to design process to provide various facilities for residential and commercial purposes as well as sports and administrative.

He also said that the Group meticulously planned for this project and prepared adequate studies before proceeding to implement it based on the project site and location as well as the Qatari market demand in providing appropriate number and adequate quality of housing units.

“This is not something new for the Group which is always considered a role model for real estate market and investors revealing giant key projects that commensurate with the size of the Group’s investments as well as the new property concept it launches in the market” he added. Regarding the Project’s estimated cost Obaidli stressed that the plans and preliminary assessments indicate that the total cost of the project will exceed QR4.5bn (about $1.24bn).

“We expect that this project will contribute to achieving superior returns for shareholders especially with the inauguration of the first phase and later on the following phases. The project is the first of its kind in the Middle East and may be in the world with such an enormous number of units owned and managed by one entity “ Obaidli said.

The Peninsula