Qatar’s Lusail City said to be ready by end-2014

LusailQatar’s new city of Lusail has started receiving its first residents following the completion of the bulk of its infrastructure and the town will be fully ready at the end of 2014, its developers have said according to a report in Emirates 24/7.

Many housing units in the sprawling city, nearly 15 km north of the Qatari capital Doha, have already been delivered to owners after the supply of all essential services including water, electricity and roads, said Khalil Al Sayyed, CEO of the government-owned Qatari Diar Real Estate Company, which owns Lusail. Quoted by the Qatari Arabic language daily Al Sharq, he said the infrastructure in most of the 38-square-kilometer city had been completed except for three key roads.

Lusail Real Estate Development Company, an affiliate of Diar, is developing the city, the largest single development in the gas-rich Gulf country. Launched in late 2005, Lusail is expected to house more than 200,000 people.

Sayyed said Diar, which was launched in 2005 by the Qatari Investment Authority, the country’s sovereign wealth fund, has tackled obstacles facing some of its projects abroad, mainly in Turkey, Britain and Montenegro in southeastern Europe.

“Some of our projects abroad were stalled for some reasons…but we were able in 2013 to restart those projects with full force,” he said. “Some of them have been re-launched and are now under construction… they include a project in Turkey, where the contractor is in the process of obtaining licenses…other projects are in Montenegro and in Chelsea, UK,” he added, in reference to the company’s $4.7-billion Chelsea Barracks development.



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Qatar's new city of Lusail has started receiving its first residents following the completion of the bulk of its infrastructure and the town will be fully ready at the end of 2014, its developers have said according to a report in Emirates 24/7. Many housing units in the sprawling city, nearly 15 km north of the Qatari capital Doha, have already been delivered to owners after the supply of all essential services including water, electricity and roads, said Khalil Al Sayyed, CEO of the government-owned Qatari Diar Real Estate Company, which owns Lusail. Quoted by the Qatari Arabic language daily...

LusailQatar’s new city of Lusail has started receiving its first residents following the completion of the bulk of its infrastructure and the town will be fully ready at the end of 2014, its developers have said according to a report in Emirates 24/7.

Many housing units in the sprawling city, nearly 15 km north of the Qatari capital Doha, have already been delivered to owners after the supply of all essential services including water, electricity and roads, said Khalil Al Sayyed, CEO of the government-owned Qatari Diar Real Estate Company, which owns Lusail. Quoted by the Qatari Arabic language daily Al Sharq, he said the infrastructure in most of the 38-square-kilometer city had been completed except for three key roads.

Lusail Real Estate Development Company, an affiliate of Diar, is developing the city, the largest single development in the gas-rich Gulf country. Launched in late 2005, Lusail is expected to house more than 200,000 people.

Sayyed said Diar, which was launched in 2005 by the Qatari Investment Authority, the country’s sovereign wealth fund, has tackled obstacles facing some of its projects abroad, mainly in Turkey, Britain and Montenegro in southeastern Europe.

“Some of our projects abroad were stalled for some reasons…but we were able in 2013 to restart those projects with full force,” he said. “Some of them have been re-launched and are now under construction… they include a project in Turkey, where the contractor is in the process of obtaining licenses…other projects are in Montenegro and in Chelsea, UK,” he added, in reference to the company’s $4.7-billion Chelsea Barracks development.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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