El Chaar with Sheikh Nasser at the signing ceremony.

LEADING Saudi developer Dar Al Arkan said it has signed an agreement with Qetaifan Projects, a leading Qatari real estate company and a unit of Katara Hospitality, to develop a premium project on Qetaifan Island North, thus marking its foray into the Qatari real estate market.

Work on the luxury development, which boasts premium residential units with seafront views, is set to begin in Q2 next year. The project will offer residents the timeless appeal of seafront living coupled with modern amenities, in addition to access to specialised retail outlets on the ground floor.

On the Qatari debut, Vice Chairman Ziad El Chaar said: “We are excited to become part of Doha’s thriving real estate market. As the nation gets ready to host the World Cup next year, we believe this global event will have positive implications for the market and position Qatar as a desirable market that is equally attractive to both local residents and international investors.

“Our project on Qetaifan Island is unique and builds on Dar Al Arkan’s strategic aspirations of elevating the offerings as well as quality of the real estate sector in the region.”

Qetaifan Projects Managing Director Sheikh Nasser bin Abdulrahman Al Thani said: “We are delighted to work with Dar Al Arkan on this unique premium project. Qetaifan Island North is being developed to become an attractive and sought-after destination with its many residential, entertainment, retail and recreational offerings that will put Qatar on the regional and global tourism map.”

According to him, Qetaifan Island North is emerging as a thriving waterfront hub representing a new, modern lifestyle.

Inspired by the rich culture and nature of the region, the distinct island will feature a thrilling waterpark, an array of luxurious hotels, unrivalled accommodation, exceptional retail options, and world-class facilities that make it a vibrant and attractive community.