Lusail, the flagship project of Qatari Diar, is poised for significant transformation in the coming years, with an estimated $250 billion (QR910.12 billion) in development aimed at attracting both local and foreign investors.
During a media tour, Khalifa Al Mana, Senior Manager of City Control Center and Smart Operations at Qatari Diar, highlighted Lusail’s role as a cornerstone of Qatar’s thriving economy. He described the city as a symbol of intelligent living and a model of urban evolution, embodying Qatar’s diverse cultural landscape.
Speaking to The Peninsula, Al Mana emphasized that Lusail offers freehold property ownership and residency through a streamlined one-stop service. “Lusail’s dynamic real estate market presents vast investment opportunities, including freehold ownership and residency in Qatar. Buyers can access mortgage financing from top local banks, along with direct payment plans featuring 0 percent interest on select properties from Qatari Diar,” he said.
Investment in Lusail’s accommodation sector alone has reached approximately $12 billion (QR43.69 billion), contributing $29 billion (QR105.57 billion) to Qatar’s economy in recent years.
Al Mana also outlined Qatari Diar’s expansion plans in Lusail, including the new Huzoom Lusail district, Qetaifan Island developments, The Seef project, Tarfat Lusail, Al Maha Island, and Meryal Waterpark. He reiterated that Qatari Diar aligns with Qatar’s National Vision by fostering economic, social, and environmental prosperity.
Qatar’s real estate market, valued at $485 billion (QR1.7 trillion) last year, ranks as the country’s second-largest sector for foreign direct investment, following energy. The industry has seen remarkable growth, fueled by rising demand for residential and retail spaces, increased tourism, and major events hosted in Qatar.
The government has introduced new property ownership laws and updated mortgage regulations, effective since 2023, further opening doors for foreign investment.
“Our goal is to leverage our expertise and resources to ensure sustainable development through high-quality, well-planned projects and innovative real estate solutions,” Al Mana stated.
Qatari Diar currently oversees 50 investment projects across 20 countries, with a total investment value of approximately $35 billion.
“By integrating AI technologies and interactive applications, we aim to enhance smart city experiences, improving efficiency and sustainability,” Al Mana added.
Lusail’s smart infrastructure fosters a tech-driven environment, seamlessly connecting people, nature, and urban spaces—positioning it as a model sustainable city for the future.
(Source: The Peninsula)
