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FINANCIAL NEWS
Qatar to establish USD5.5b Oryx Island for 2022 World Cup
28 May 2013
(MENAFN) Barwa Real Estate CEO, Abdulla al-Subaie, stated that the company will develop a USD5.5 billion island off the coast of Doha to accommodate World Cup fans, reported Arabian Business.
Al-Subaie added that the Oryx Island will include 5 floating hotels that have the capacity to house up to 25,000 soccer fans, luxury villas, and a water park.
The company, part-owned by Qatar’s sovereign wealth fund, expects demand for residences and hotel rooms to rise in the country as it prepares to host the 2022 World Cup tournament.
It is worth noting that Barwa is Qatar’s largest listed real estate developer, and has properties in France, Switzerland and the UK.
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