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The sixth World Cup this century will take place in Qatar. Sheikh Yousef Al Shelash is the chairman of Dar Al Arkan, a premier Saudi-based real estate development company. He sees the 2022 FIFA World Cup as an advantageous time to spread into the Qatari market. According to Al Shelash, Qatar is a “sweet spot” for investments. Here’s what else the real estate developer had to say about the upcoming event.
Yousef Al Shelash told the Gulf Times, “We believe in the Qatari market, which is why we are bringing our business here. We also believe that we are in the ‘sweet spot’ considering that in a few months, Qatar will be hosting the 2022 FIFA World Cup, giving us a really good opportunity to expand in this country because we have been looking at this market for a long time.”
The FIFA World Cup is scheduled to take place from Nov. 21 to Dec. 18. Qatar has the honor of being the first Middle Eastern country to host the most prestigious soccer competition in the world. And Al Shelash sees it as an ideal opportunity to introduce prospective buyers to the stunning Dar Al Arkan’s Les Vagues residences by designer Elie Saab.
He says, “The whole world is coming to Qatar for the World Cup, so this event is absolutely an opportunity for us to promote this project, and it also presents perfect timing for our sales and marketing teams.”
Sheikh Yousef Al Shelash and Les Vagues Residences by Elie Saab
Al Shelash and Sheikh Nasser bin Abdulrahman Al Thani, Qetaifan Projects’ managing director, signed an agreement in October 2021 at the grand unveiling of Les Vagues residences by Elie Saab on Qetaifan Island North. The name Les Vagues means “the waves” in French. In conjunction with Qetaifan Projects, Dar Al Arkan debuted the premium lifestyle and residential project that is the epitome of luxury living. It’s the first project Dar Al Arkan is building in Qatar, and has the purpose of boosting the luxury property market while supporting Qatar’s real estate sector growth.
“Following our concerted efforts to provide the local market with international standards that work on developing and revitalizing sectors such as tourism, hospitality, entertainment, and of course real estate development, we are happy to bring a new, innovative project to Qatar,” stated Al Thani. “We’re looking forward to working with Dar Al Arkan and Elie Saab on this premium project that is unlike any other in the region. Qetaifan Island North is being developed as the first touristic entertainment destination in Qatar, which will put the country on the regional and global tourism map. In addition, Les Vagues residences is an integral project within the master plan of the development.”
The project comprises 70 seafront residencies — one, two, and three bedroom options — which boast an array of terraces, balconies, floor-to-ceiling windows, and interiors that reflect the luxe lifestyle of fashion designer Elie Saab. “After Dar Al Arkan’s successful project launch with the master of design himself, Elie Saab, in Riyadh, [the real estate development company is] collaborating for a second time on a premium residential project in one of the region’s most sought-after developments,” said Ziad ElChaar, the vice-chairman of Dar Al Arkan and chief executive officer of Quara Holding, which was formed in 1994 as a tactical ecosystem of real estate, financial, and technological ventures.
The modern living space is an ode to island life with a clean, contemporary design aesthetic that merges an earth-toned color palette with pops of lush tropical palms and foliage. El Chaar explained that the project on Qetaifan Island North “is unique and builds on Dar Al Arkan’s strategic aspirations of regional and global expansion through superior, high-quality real estate projects that cater to discerning clientele from across the world.”
Sheikh Yousef Al Shelash on the Importance of Cobranding
According to the chairman of Dar Al Arkan, it’s “one of the biggest real estate development companies in Saudi Arabia. Today it is doing real estate development in eight countries.” He confirms that cobranding is one of the biggest trends in luxury living right now.
“The reason it's a big trend is that we have more and more people looking to buy a limited number of units,” explains Sheikh Yousef Al Shelash. “When you do a project in a certain city with a certain brand, you only present a limited number of units. These are also limited for a very long time. So there is a big trend around the globe today of people who would like to buy units with limited numbers.” He explains that it’s similar to how people collect limited edition watches and jewelry. “They're buying everything which is a limited edition. So the cobranded real estate is the limited edition of real estate. This is a major trend these days in real estate,” says Al Shelash.
In addition to the Elie Saab interiors at Les Vagues, Yousef Al Shelash’s real estate development company has projects cobranded with other famous design houses, including Versace, Pagani, and Missoni. “This is part of making the Dar Al Arkan brand global,” says Yousef Al Shelash. “[As a] Saudi national, I take pride in showing the world another image of what Saudi is.” He says he’s accomplishing that by “being successful in countries like Dubai or in Oman or in Qatar as well as in the U.K. or in Spain or in China, and planting that Saudi flag outside Saudi. Dar Al Arkan is showing Saudi values by delivering on promises, delivering on quality, and delivering on time. This is what we are actively trying to do in our real estate projects.”
What To Expect When Qatar Welcomes the World Cup
Thirty-two teams will compete in the World Cup 2022, which will take place over the course of 64 matches across eight stadiums in Qatar — Al Bayt Stadium, Khalifa International Stadium, Al Thumama Stadium, Ahmad Bin Ali Stadium, Lusail Stadium, Stadium 974, Al Janoub Stadium, and Education City Stadium, in November and December.
The host country’s team will also make its first appearance at the biggest soccer tournament. The teams will be divided into eight groups of four, and the top two from each group will advance to the knockout matches. The quarterfinals are scheduled for Dec. 9 and 10, the semifinals will take place on Dec. 13 and 14, and the playoff for third place is set for Dec. 17, one day before the final match.
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