Sheikh Nasser bin Abdul Rahman Al Thani, Managing Director of Qetaifan Projects, said that the total investments in the Qatian Island project are estimated at 17 billion riyals, adding that the company’s investments in the project are distributed among the Qatari private sector and investors wishing to enter the project, adding that 90% of The company’s projects were awarded to Qatari companies and 10% are projects that have been awarded to specialized companies. We needed to bring their expertise and specialized equipment in order to complete the project.
On the timeline for the completion of the project, the managing director of Qetaifan said in an interview with CNBC Arabia today that the completion of the first phase of the project will be at the end of November of next year.
Regarding the idea of the project and its development, Sheikh Nasser said that the Qetaifan Island project was adopted by the Katara Hospitality Company in order to support the tourism and entertainment sector in the country, pointing out that the island was based on the water city, and then after that we began to study and bring experiences in the field of Real estate development, and the company was established and is currently working on the completion of the project.
On this giant project, the plans that have been drawn up and the challenge of its completion and the competition of time to finish the first phase before November 2021, he said that in Qetaifan Company they are able to complete it on time, adding that they have started studying the project and its designs and the time required to complete it, and then after that A fixed schedule has been set for the completion of projects and until this moment the work is proceeding according to the set plan and, God willing, it will be completed within the predetermined period.
When asked about the stage of selling the lands and the possibility of a delay by real estate developers that may lead to delaying the completion of the project, the managing director of Qetaifan said, we must separate between the first stage and the second stage for sale as well as the first stage and the second stage of development, adding: that the first stage of development includes the water city And the accompanying hotel, the island’s infrastructure in general, and commercial facilities that will be in the heart of the city, and this stage is the responsibility of Qetaifan.
He said that according to what real estate developers are looking for, we in the company believe that the beginning should be the points of attraction and the main centers of any real estate development project before the start of the land sale process, pointing out that the first phase of the Qetaifan Island project will be completed before the start of the World Cup in Qatar. 2022.
With regard to residential lands, villas, buildings, schools and hospitals in the island project, His Excellency said that it will be completed in the second phase after the 2022 World Cup.
Regarding the island project and the areas, extensions and services it provides, Sheikh Nasser bin Abdul Rahman said that the island project is located on an area of one million and 300 thousand square meters, and half of the area or a little less than half will include tourism and recreational facilities that will be provided to meet the needs of all people, including the water city that will be And a different character, which is a previously untold story of gas discovery in Qatar, and an accompanying hotel project, which consists of 350 rooms to serve visitors and tourists who want to enjoy the activities organized by the island.
This is in addition to the heart of the city, which consists of commercial facilities, as in the city center a river crosses the island in the middle, and public parks will be on the edges of the river in addition to shops, restaurants and cafes, and a daily festival will be organized in the park to meet the wishes of visitors and tourists.