Ezdan to launch 5,000 affordable homes in Qatar

Developer says bulk of the proposed housing will be in Al Wakra

NEWS, Projects

Group CEO Alli Al Obaidli told The Peninsula on the sidelines of its general meeting that the new villages will contain over 5,000 two- and three-bed affordable apartments. Nine of the ten sites will be in Al Wakra, while the other will be built in the north of Doha.

Al Obaidli also said that the company's new Ezdan Mall is set to open in Al Gharafa on Sonday, while two other malls at Al Wakra and Wukair are planned to open on 1 February, 2014 and 1 January, 2015 respectively.

The company, which increased net profits by 18% in 2012 to $112.3m (QR: 408.7m), is also currently building three towers in West Bay that are expected to complete during the second quarter of 2013.

Speaking about the prospects for Qatar's property market, Al Obaidli said that it "has already shown signs of recovery".

"It is going to witness another real estate boom, which will continue for some time," he added.

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