Sharaka Holdings remains committed to Qatar's luxury segment
Sharaka Holdings' chairman reaffirmed the group's commitment to Qatar's luxury megaproject segment
Qatar's Sharaka Holdings has reaffirmed its commitment to luxury megaprojects.
Chairman Sheikh Abdulla bin Ahmed Al Thani said that the group would continue to invest in luxury real estate projects through its real estate arm, Le Mirage.
Such projects, he noted, will be necessary in the lead-up to the 2022 FIFA World Cup, and will help to realise the 2030 Qatar National Vision.
Despite current economic challenges, Sheikh Abdulla said that Qatar's real estate outlook remains generally positive in the long term, according to Qatar Tribune. He emphasised that the country is continuing to invest in its built environment, and that it has embarked on several initiatives to diversify its economy away from the hydrocarbon sector.
"The current population has reached an all-time high, and is expected to rise further," he commented. "This in turn will ease demand for realty projects in the country. This is the time when real estate companies should invest in projects to reap benefits in the long run."
Citing Qatar as one of the biggest markets for luxury realty projects in the Middle East region, Sheikh Abdulla noted the country's ability to attract white-collar expatriate workers in large numbers from across the world to work on various projects.
The influx of well-placed expatriates would create demand for luxury realty projects in the country, he said, adding that the number of Qatari nationals interested in such high-end projects was also large.
Sheikh Abdulla said Sharaka Holdings has launched several projects in a bid to target Qatar's luxury segment. He concluded: "Le Mirage is the first real estate company in the country to build the special, air-conditioned rooftop track for jogging in Qatar, on top of our Le Mirage City Walk project."