(MENAFN- The Peninsula) Sachin Kumar |
The Peninsula
Doha: Ezdan Real Estate Company will launch over 4,000 residential units by the end of this year. Spread over eight residential compounds in Al Wakra and Al Wukair, these housing units will boost the supply of housing units in Qatar's real estate market.
“We have already released 500 units from these 4,250 units in the past couple of months and they have been occupied fully by national and international companies,” said Hani Dabash, Deputy Group CEO at Ezdan Holding Group addressing the press conference held at Ezdan Hotel - West Bay Towers.
He added that there is high demand for residential units that has prompted the company to launch these new units. About the pricing of these units, he said the rents will be decided based on the demand-supply situation in the market. The launch of these units, which include apartments of different sizes and villas, will trigger a boom in the properties market by adding high-quality real estate product at competitive rentals that respond to the rising demand for properties.
Ezdan Holding Group owns about 32,000 multi-purpose units across Qatar.
Talking about Ezdan's latest developed project 'Murooj Al Wakra' residential compound, he said that it features integrated services, modern furniture and all means of comfort.
“We regard Murooj Al Wakra compound as a complete success to be added to the record of achievements of Ezdan Real Estate Company, but it marks a new chapter in the history of the company. This aligns with the announcement of the company's plans to launch a series of completely modern residential compounds, which will introduce more than 4,000 residential units to the market, no later than the end of this year,” said Dabash.
Hani Dabash, Deputy Group CEO at Ezdan Holding Group, addressing the press conference held at Ezdan Hotel - West Bay Towers. Pic Rajan Vadakkemuriyil
The project has over 187 residential units that are very unique in quality, in a vital location in Al Wakra, in addition to a package of reliable services that include high-quality furniture, kids play area and playgrounds, gyms and a swimming pool, along with a number of shops and a supermarket.
Murooj Al Wakrah compound comprises about 126 fully furnished two bedroom apartments, 61 villas with four rooms, bathrooms, kitchen and backyards, in addition to three shops and a supermarket.
He said that one of the recently opened compounds by Ezdan Real Estate Company is 'Hayat Al Wakra', which consists of 294 units, including 287 fully furnished residential units, varying between apartments and villas, and it has already been fully leased to one of the major companies operating in Qatar.
Commenting on the new project, Dabash said“Our choice of the name as 'Murooj' in Arabic denotes our belief in the importance of our care for the environment, and our keenness to include green spaces in our new properties, giving our compounds a new dimension that gives all its residents comfort, tranquility and optimism. We have worked to consolidate this trend by providing services that add luxury to the residents, such as gyms, swimming pools, billiards and squash halls, in addition to the saunas and steam baths.”
Ezdan's Deputy Group CEO reiterated that Ezdan Real Estate focuses on improving and developing its services continuously and in a timely manner. In fulfilment of this commitment, the company revealed an integrated time-bound scheme for the comprehensive development of a large number of villages and residential compounds during the current year that entailed 37 residential villages, with a total number of units exceeding 15,000 units, in five phases.
“We have developed a holistic plan, that aims to satisfy our customers, and we have conducted a comprehensive re-evaluation of all properties affiliated with Ezdan Real Estate Company to determine the condition of all residential units and their requirements between construction developments, furniture, electrical appliances, air conditioners, etc,”
“As part of such relentless endeavours, we have launched the plan, which is being implemented in successive phases, seeking to cover up to 17 compounds and residential villages during the current year. We expect to reap the first positive results of the development process soon, with the announcement of the completion of operations in one of our compounds,” he said. The revamped villages include residential ones in Al Wakra and Al Wukair and buildings in Doha. The development operations include replacing floors, painting walls, and performing integrated maintenance operations for buildings, in addition to replacing most of the furniture, electrical appliances and air conditioners in the mentioned residential units.
Ezdan Real Estate Company had recently announced that the occupancy rate of residential units in all phases that were opened within Ezdan Oasis exceeded 90 percent during 2021, signalling a remarkable success. The number of residents in Ezdan Oasis exceeds more than 18,000 people.
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