DOHA: The construction works for the first phase of Al Mutahidah Towers at The Pearl Qatar (TPQ) has been completed, and the United Development Company (UDC), the master developer of TPQ, has already started selling out the apartments and retail spaces at the iconic towers, said a top official of UDC.
Al Mutahidah Towers project was unveiled at the ‘Cityscape Qatar 2016’ exhibition. The project consists of about 450 high-end apartments and retail space, which is located at Viva Bahriya in TPQ.
“The construction process and other works at Al Mutahidah Towers are going on very smoothly. The project is on schedule. We have started selling for the first phase, which is already complete. The other phases will also be completed as per schedule,” Abdulrahim Al Ibrahim (pictured), Executive Director (Commercial) at UDC, told The Peninsula.
Al Ibrahim added: “Exceptional efforts are being made to add value to UDC’s growth activities by identifying new commercial opportunities and managing marketing efforts that help generate sustainable revenues for the shareholders of the company.”
The construction works on Al Mutahidah Towers was started by the end of 2016, and was expected to be completed within three years since the inception of the construction works.
Once completed, it will have luxurious apartments and retail space. The property will also have state-of-the-art amenities such as gymnasium and indoor and outdoor swimming pools with sea view.
The Pearl, being developed at an estimated cost of over $15bn, is an artificial island spread across nearly four million square metres.
Some of the major residential and commercial developments in the man-made island include Porto Arabia, Viva Bahriya Towers, Qanat Quartier, Abraj Quartier, Medina Centrale among others. In addition, there are a lot of commercial establishments, retail space and world-class amenities, including beach resorts, restaurants, showrooms, meeting halls and entertainment facilities and others.
It was the first land in Qatar that offered freehold ownership by foreign nationals. Currently, there are over 25,000 residents living in the island, and several thousand workers maintaining the facilities.
Once fully completed, it will create over 32km of new coastline, for use as a residential estate with an expected 18,831 dwellings and 45,000 residents. “Currently the number of residents is between 25,000 and 30,000, which include expatriate communities from 54 countries. In addition, to indoor staff and support workers, there are about 3,000 additional people working outside the apartments in maintaining the different facilities, including parks, gardens, roads and walkways,” said Al Ibrahim.
Commenting on the occupancy rates in the island, he said that it would be difficult to provide the exact percentage of occupancy levels as there are different types of properties and a lot of them are owned by different companies. But the number of residents is growing every month with the completion of new projects. Asked about the timeframe for the completion of the construction works across the island and the total number of towers, he said that the total number of towers will be the same as per the master plan, so there is no question of downsizing the numbers.
“Actually we have increased the number of towers in the Porto Arabia from 18 to 31. We have towers in Viva Bahriya and Abraj Quartier as well. So once fully completed, the total number of towers are expected to be around 64. As far as the construction process is concerned, it may continue for some time as there are several other private developers, and investment decisions are dictated by market forces.”
