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Lusail tenants start moving in

Doha, February 13, 2014

The tenants of Qatar's new city of Lusail have started moving in following the completion of its infrastructure the developers said in a report.

The town will be fully ready at the end of this year, said the Emirates 24/7 report.

Many housing units in the sprawling city, nearly 15km north of Doha, have already been delivered to owners after the supply of all essential services including water, electricity and roads, Khalil Al Sayyed, CEO of the government-owned Qatari Diar Real Estate Company, which owns Lusail was quoted as saying.

Lusail Real Estate Development Company, an affiliate of Diar, is developing the city, the largest single development in the country, which is expected to house more than 200,000 people.

Diar, which was launched in 2005 by the Qatari Investment Authority, the country's sovereign wealth fund, has tackled obstacles facing some of its projects abroad, mainly in Turkey, Britain and Montenegro in south eastern Europe, said the report.

"Some of our projects abroad were stalled for some reasons, but we were able in 2013 to restart those projects with full force," he was quoted as saying.

"Some of them have been re-launched and are now under construction...they include a project in Turkey, where the contractor is in the process of obtaining licenses...other projects are in Montenegro and in Chelsea, UK," he added, in reference to the company's $4.7 billion Chelsea Barracks development.




Tags: Doha | Lusail | complete | tenant |

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