Al Maha Island
Doha: Qatari Diar’s flagship project - Lusail is expected to witness transformative development in the coming years; with an estimated amount of $250bn (QR910.12bn) to attract local and foreign investors.
During a media tour, Khalifa Al Mana, Senior Manager, of City Control Center, and Smart Operations at Qatari Diar emphasised that the city serves as a cornerstone of Qatar’s booming economy, a symbol of intelligent living, and a model for the nation’s urban evolution and diverse cultural landscape.
Speaking to The Peninsula, Al Mana noted that Lusail provides freehold properties and residency, all through a convenient one-stop service. “Lusail’s vibrant real estate market presents significant growth opportunities for investors, with the option of freehold ownership and residency in Qatar for buyers. Mortgage financing is available through top local banks, along with direct payment plans offering 0 percent interest on select properties from Qatari Diar,” he said.
A view of Lusail
Meanwhile, investment opportunities in the accommodation sector came to around $12bn (QR43.69bn), contributing $29bn (QR105.57bn) towards the Qatari economy during recent years.
Al Mana further briefed the press regarding Qatari Diar’s plans and expansion projects in Lusail including The new Huzoom Lusail district, Qetaifan Island projects, The Seef project, Tarfat Lusail And Al Maha Island, and Meryal Waterpark.
He said, “Qatari Diar supports Qatar’s national vision by contributing to the creation of a more prosperous, stable future across economic, social, and environmental sectors.”
Qatar’s real estate market was valued at $485bn (QR1.7 trillion) last year and ranks second in attracting foreign direct investments, following the energy sector.
The industry has experienced notable growth in recent years, driven by increased demand for residential and retail spaces, rising visitor numbers, Qatar’s hosting of major events, and developments in business and trade.
Qatar is opening up new avenues for investment through updated property ownership laws for foreigners and changes to mortgage regulations, effective since 2023.
Al Mana said, “Our goal is to leverage our resources and expertise to ensure sustainable development, delivering high-quality projects with meticulous planning and innovative real estate solutions.”
Qatari Diar is currently developing 50 investment projects across 20 countries worldwide, with a combined investment value of approximately $35bn.
“By integrating AI technologies and interactive applications, we aim to provide superior smart city experiences, enhancing both efficiency and sustainability, he said.
The city also provides an ideal foundation for a tech-driven environment, creating an interconnected network of people, nature, and infrastructure, positioning it as a model sustainable city for the future, the official remarked.
Al Mana highlighted Lusail’s future-focused lifestyle services including e-education, e-health, automated weather forecasting, and smart cards, among others. “Businesses within the city will also benefit from smart access, control systems, and cloud-based services that support efficient, tech-enabled operations,” he added.
The iconic city, which hosted the FIFA World Cup matches including the finals is one of Qatar’s largest real estate projects, spans 38 million square meters, and represents a $45bn investment in infrastructure.
