The Pearl-Qatar, United Development Company's flagship island development, has announced the official launch of the “Hilton Panorama Residence,” a 445-room serviced hotel apartments project.

First Qatar Real Estate Development Company, which will be investing up to $390 million in the project, said the construction is set to begin this month and is expected to complete by mid-2017.

The ribbon cutting was conducted in the presence of a number of senior officials, businessmen, investors, representatives from the tourism sector, and with a number of media representatives in attendance.

The apartments project will be located in the upscale and exclusive man-made island, The Pearl-Qatar, regarded as one of the most prestigious developments in Doha and the region.

The Hilton Pearl Residences will be ideally positioned at the Island’s entrance and surrounded by upscale and stylish coffee shops, retail boutiques and restaurants.

Speaking at the launch, Fahad Al-Ghunaim, the chairman & CEO of First Qatar Real Estate Development Company, elaborated on the strategic importance of Hilton Panorama Residence’s location at The Pearl-Qatar.

“Panorama Hilton Residence boasts an unparalleled location at the gateway of the Pearl Island,” stated Al Ghunaim.

“Designed by world-class architects, the Panorama tower will be the tallest building in Phase Three of the Island. The visibility, location and dramatic styling of the tower will all serve to establish the project's unique identity,” he added.

United Development Company acting CEO Badr Al-Meer said: “All these new schemes progressing simultaneously at The Pearl-Qatar work together by mobilizing significant resources and talents available at UDC, consequently sustaining service excellence and promoting The Pearl-Qatar as a leading mixed-use development of world-class standing.”

“We recognize that the importance of this facility and the caliber of work that will be done in it will also generate significant opportunities for further business investments at The Pearl-Qatar,” he added.

Hilton had last March announced its expansion plans in Qatar with the signing of a management agreement with First Qatar Real Estate Development Company to open Hilton Pearl Residences, Qatar.

The 41-storey apartment tower and the 51 surrounding townhouses boast a stunning view of the Doha skyline and overlook other vital districts of the Island.-TradeArabia News Service