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By Islomaniac | February 7, 2008
Although the mega island projects currently underway in Dubai are getting all of the attention, the U.A.E. is not the only nation currently expanding into the man made island market.
Like Dubai, Qatar is a tiny, oil rich nation currently diversifying its economy in order to ensure the nation remains prosperous when oil reserves have dwindled. The Pearl, is Qatar’s first entry into the luxury artificial island race.
Located in Doha, Qatar, The Pearl is a multi-billion dollar artificial island that will eventually be home to 40,000 residents and 15,000 dwellings in its 12 precincts. With an expected completion data of 2010 The Pearl is one of the largest real estate projects currently underway in the country and the first to offer freehold and 
residential rights to international investors.
The goal of the Pearl-Qatar is to offer residents a secure and exclusive island retreat which brings the ambiance and lifestyle of the Mediterranean to the heart of the Gulf. In addition to its European ambiance the Pearl is set to be one of the most technologically advanced real estate projects in the world. The island will be home to a full range of diverse technological services and solutions in what is known as the world’s first Smart Island. Smart Island technology includes innovative security systems, building management systems, energy monitory, smart-card system technology and of course user friendly home entertainment systems
The island when completely finished will have two million square feet of high-end retail, leisure, lifestyle and restaurant areas and will attract upscale retailers. Units are also selling well with 65% of retail space expected to be leased/purchased in the next few months.
It seems like Qatar is working hard to give Dubai a run for its money and it looks like the battle for artificial island supremacy in the Middle East is just getting started.
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Topics: Islands in the News, Man made islands, Island Luxury, Island Vacations, Island Technology, Islands for Sale |
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