Construction work on Qatar's mega multi-bilion-dollar freehold resort has been launched with the start of dredging work on the project.

Billed as the largest real estate project in the country,  Pearl of the Gulf – as the resort is called – will rise from the sea 350 m off the Doha coast to house 30,000 people in a multi-cultural residential and commercial community covering 400 hectares of reclaimed land.
Bookings will begin in May and officials are confident it will be sold out within a few hours.
“The first release sales of this unique property will be launched in May and it will be snapped up by global investors within hours,” says Khalil Sholy, managing director of the United Development Company (UDC), which is developing the $2.5 billion project.
The project will offer freehold and residential rights to the international community, a first in the country. An agreement has been signed with the government with regard to this and the by-law has been ratified, Sholy says.
The island will include a variety of low-rise exclusive villas and stylish townhouses, quality apartments and luxury penthouses situated in high-rise buildings.
Facilities will also include retail shopping areas, restaurants, at least three themed luxury hotels, entertainment and recreational facilities, marinas, schools, community centres and parks.
Ten unique districts will be developed over the next five years with the first residents due to take up ownership in September 2006.
Qatar’s Prime Minister Shaikh Abdullah bin Khalifa Al Thani marked the start of construction work by ordering dredgers to begin reclaiming land at a ground-breaking ceremony.
Al Fardan made it clear that the Pearl of the Gulf is not a competitor with other such projects in the region. The need of Qatar market is different from others and the project will serve this market, he says.
“Top ranking international education institutions are setting up universities in Qatar and people working in these institutions are some of our target customers,” says Sholy.
“Our properties are available for anyone, including private home-owners and institutions,” he points out.
The developers have taken extra care not to disturb the ecological balance in the area. “We have positioned the island with the greatest respect for the marine environment and topography,” Al Fardan adds.
“We will work with nature, not against it, throughout the development phase and beyond.”
As well as accommodating three large bays, which maximise the available water and beach frontage, the island is also within easy reach of Doha's city centre and golf courses.
UDC is Qatar’s largest private shareholding company, which was founded in 1999 and is now listed on the Qatar Securities Market.