The signing ceremony
Dar Al Arkan Real Estate Development Co. signed a memorandum of cooperation (MoC) with Qatar's Qetaifan Projects, owned by Katara Hospitality, to develop a project on Qetaifan Island North, as reported by Al Watan Qatar Newspaper.
Under this partnership, Dar Al Arkan will develop a project that includes luxury housing units, Qetaifan Projects said.
Work on the project will begin in the second quarter of 2022, and its total sales are expected to exceed QAR 1 billion.
The company pointed out that the cooperation represents the first project of Dar Al Arkan in Qatar.
According to data compiled by Argaam, Qetaifan Island North is considered the first recreational and tourist island in Qatar, which is a part of Lusail City and includes six beaches.
The island is spanning an area of 1.3 million square meters (sqm), as the projects’ area on the island extends to approximately 830,000 sqm.
The island capacity, after the completion of all phases, is 30,000 people (15,000 residents and 15,000 visitors per day).
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