PEARL QATAR Market (Buying or Selling Flats)

Am considering purchasing a 2-bedroom at The Pearl, rather than pay for rent.

- 2 bedroom

- Marina view

- Min. 170 m2

- Balconies at both living area and master bedroom

- 2.5 bathrooms

Pls email.

Thanks.

Check this out

http://www.qatarliving.com/node/938800

http://www.qatarliving.com/node/938800

The reason why Simons and Simons won't take your case is because they are Actually the Legal advisor for Sabban and First Qatar. Check out this website and you will know what i am talking about.

http://www.simmons-simmons.com/index.cfm?fuseaction=offices.display_left&page=2766

My personal experiences are with Al-Sharq and Al-Raya newspapers. You just have to go there and tell them that you would like to complain about such and such. They will get you in touch with a journalist who will listen to all the details and write down everything. Also, if you wish you could give the journalist a copy of your contract (or a few pages of it) and they will contact a layer to get his/her opinion about the clauses and provide some advices for clients. They will also ask you whether you like them to mention your name in the article or not.

I have done this personally, when i complained about things related to the Lusail project and the subject was covered in a full page in both newspares.

I hope this helps!!

.. the law firm I went Patton Boggs and Simmons & Simmons. One other one was smaller I cant recall the name now.

The Penisula and the Golf Times have been contacted, question as been ask and for an obscure reason do not want to dig.

Thats was why I ask for your help..

aaa, when was the last time there was anything published in either the English or Arabic newspapers that was concerning the lengthy delays at The Pearl?

The only stories I can ever recall are press releases congratulating Qatar Cool, or UDC, etc, on how great everything is.

The day I see an interview in the Gulf Times where the CEO of one of the developers offers either an explanation or an apology for causing purchasers like you lengthy delays and cost over runs is the day we'll spot pigs flying over the corniche.

I am sure most newspapers will be more than happy to publish those stories, especially since some of them actually have sections for complaints against schools, hostpitals, department stores, ministries ...etc (and written by expat journalists!), however, i don't think Aljazeera would care to publish them.

Which Law firms have you been to???? It sounds very strange they don't want to take your case !!

I've only talked to 2 "well known" law firms, and they are both waiting for my decision whether I want to proceed.

The Law system works fine here, but just like everywhere else, it requires you to have both, the patience and the money to pay for the lawer.

....aaa157 do you know a way of making them acountable? Can you talk about it on news paper, radio, Al jazzira. Or go to the diwan or meet anyone high enough on the gouvernment??? English news paper penisula or golf time are not doing there jobs it seem that journalist(expat) are scared to ask questions...

We all have sign a tick contract, on wish very little clause protect us. And the only one who does ie: getting our money back in case of delays of more then 12 months are not even respect. All law firm I visit don't want to get involve. As a foreigner it's seem like the law system in Qatar is in place to protect the Big not the Small

regards

I've had quite few experiences (problems) in doing business with unprofessional people and also heard a lot of bad stories, but they were all related to small, or private owned, companies. However, what amazes me is the number of lies those developers tell, and their unprofessional way of dealing with the clients. The worst among all is the master developer "UDC" !!!

I will say it again "DO NOT TRUST A WORD THOSE PEOPLE SAY"

I heard the same thing several months ago about the sewage. Also Qatar Cool say their plant will only be ready later this year so maybe this also has something to do with it.

I just wish there was a little honesty and transperancy with all concerned.

...Realy, well I think that they are only stalling the delivery and it is just an excuse to further posponed it. But this as been said and it's comming from different source. Go and ask First Qatar or UDC maybe we can have some truth here.

A new SPA with new clause??? This is the first time i hear about this!!

what kind of new clause?

..Did you heard that we will all have to sign another SPA with new clause in it??

Tintin, my apartment is with First Qatar as well, but they had me pay 100% of the apartment cost to get the connection fees waived (~ 152,000 QR in my case).

Anyway, just like everyone else, I kept hearing that the developers are ready to handover once they get the completion letter from UDC. So, I tried to chase this story and heard that the island's sewage system is not installed yet. Basically, UDC's towers dispose off sewage using truck tanks. Some of the developers asked UDC if they could do the same, but it seems that UDC is not willing to let them do so.

This is the final story i heard so far. Who knows? maybe next moth we will hear another one !!!

It was around 588qr per m2...

..Voila only UDC are allowed to move in...

I cant believe that you paid 95% of your unit.

Was the connection fee going to be that large doe you?

What a rip-off.

Who is your developer?

With Sabban, it ended up being Quite reasonable.

I am thankful that our down payment is not borrowed. No interest but the money is tied up and I am not looking forward to paying he balance if we cant sell.

UDC

..Who's your developper???

Mine is handed over, all being well, this Sunday. Don't really think Qatar will be the same as Dubai's situation, not yet anyway. Dubai has hundreds of these luxury developments. Qatar has 1.

I considered buying in the summer of 2007. At that time HSBC were offering a 90% mortgage and the banker there mentioned that I could apply for and get another 10% as a personal loan from another bank. That looked like a pretty good 0% down deal. The mortgage payments were lower than what I was about the pay at Beverly Hills (200k a year).

I put it off since I couldn't live in it and would have to pay rent and a mortgage for about a year. That was about 3 years ago!

When I lived in Beverly Hills I ran into a QA pilot who was sharing an apt. with another QA staff and was paying the mortgage and the rent. Two years later he was still bitching because he couldn't sell it and couldn't break-free of the bank and live in Qatar. Plus he made a down payment.

If anyone is thinking of buying, only do so if

1. you can move in rightaway and

2. mortgage is less than the rent you'd pay and

3. you make no down payment.

That's my 2 cents free.

.. we had to pay our developer 95% of the flat before the handover date so he could wave our connection fee's

I dont think that the government or a group is involve since lot's of Qataris have also invested in the project.

I really don't know what's going on apart from the fact that I can't take it much longer. I can't continue to rent by the month and for that pay my landlord a monthly extra 2000qr plus of course the rent and the mortgage, because nobody tell us the truth.

I't been 4 month that we are living in boxes..

Could it be that the government, or the small group of influential people in Qatar are trying to keep rents high/stable by not having too many apartments delivered to the market at one time?

I dont know if most Pearl apartment owners are going to live in Pearl or rent the units.

Dont forget, that the builders must be more desperate for the handover than the buyers because I am sure that the builders have financed their projects and are still paying interest payments to banks. The sooner the builders get the handover, the sooner the builders can get their money from us.

There a green day or something like at the pearl in few days let's go and trash there party. I'm tired of them

I'm with you Tin Tin.... Why are the delays to the sub-developers? Its a great question as many of these places have looked ready to be occupied for many, many months.

I do not believe for one instant that it is only the fault of the developers for this delay.... One or 2 delayed and no problem, but all are delayed... there is an issue that is not being made public.

Hi guys, Is there anybody here who know why UDG delays the apartment handover to sub-developer ie: Sabban, The Land, First Qatar ?? Only UDC tower have been delivered so far....

Companies like www.mycoreo.com focus quite heavily on the resale of turnover. Resales have slowed down since the economic downturn, but there are still transactions in the market if the properties are priced right. It's still a guessing game as to what the right price is as a large supply has not entered the market, however, the prices that the developers are marketing at will not sell at such high rates. I've seen a lot of people favor renting than selling to try to wait the market out. Hope that helps answer some of your questions.

PS. The people at COREO are quite helpful so drop them a line on the site above if you need any help.

Hi Nina,

First of all there are a lot of hoaxes about the project and people like to talk negative about the Pearl(maybe jealousy!). So, we shouldn't believe and act according to those hoaxes. On the other hand there is a certain fact that the project is delayed a lot... So, before making any decision I think you should consult with UDC officials and your developer first.

After my investigations, I am convinced that the main reason of delays are not because of main developer(UDC)or any governmental issue, instead the problem is most probably with your developer.

Maybe you know, before the handover, the developers are needed to pay fees, give commitments v.s. to the main developer. The issue of delay could be caused by those things. But of course they will never say that the delay is due to themself, instead blame master developer. Look at what happened with the First Qatar. The developer is charging the complete connection fees to the owners. I never ever heard such thing in anywhere in the world!

So far I never heard of anybody cancel SPA so far but a lot of people thinking and discussing this option.

Personally I am not at that stage yet because I want to live in there and believe that soon this misery will end.

Good luck!

There is not enough people to occupy the already finished buildings, don’t even mention the ones that are under construction and the so many more that are on the way.

Qatar is slowly but steadily catching up with Dubai’s failed model!

Pearl was the first scam made public, gives a great idea to everybody how projects are managed and executed in this region.

I, and several others I know, sought legal advice on this point. They said technically and legally according to the contract yes you can cancel and get your money back, but in reality it is highly doubtful.

You will likely need to go to the courts and nothing on the Pearl has a precedent so in all matters involving freehold ownership the outcome is unclear. Lawyers are expensive and, even if you win, you can't claim costs so you wear that expense. The case may take years to come to court, meanwhile the developer may have counter-sued you for not paying a final instalment or something else creative to stall your case, meaning you cannot leave the country until that case is heard or the developer decides to drop it - most likely this will happen immediatly after you drop your suit.

In the region things are rarely built on time so the courts may be lenient on the timing, especially if the developer says it will be handed over soon, and remember that this is a flagship project, of course it will be a little overdue….

The lack of delivery is costly for those that have borrowed part of the down payment. The initial delivery date was Feb 08. Your paying rent for where you now live plus interest on the down payment.

I hear from the builder some units are being re-sold pre-delivery but I dont trust that. Why would they try to sell my unit if they have other units to sell.

I cant sell my unit, rent it or live in it.

I am considering canceling the Seller/Purchaser Agreement SPA? but I am sure that the builder will not easily give back the money.

Have you heard of other Buyers Terminating the contract (and getting their deposits back)??

I think one of the main problem with this project is transparency. We are not informed or "correctly informed" about what is going on(problems, real reason of delays v.s.). I know one of my friend who has been told that his apertment will be handovered next month since 8 months! and the reason of delay is changing every month. My apartment is already delayed almost 1 year. My developer is saying the handover will be in March. But after all, I can't believe them... It will be a big surprise if they do so...

I want to hear from people who have bought apartments at the Pearl. We bought a 1 BR unit with Sabban and it is still not delivered...not to mention this issue of whether it is possible to sell on the secondary market.

What are other peoples experience?

Please comment

Thats the problem. Nobody expected QatarCool and the service charges to be such extortionate fees. These fees will certainly drive people away.

Does anyone have information on Qatar Cool and/or Service Changes at the Pearl?

Thanks,

Nina

in The Pearl.

Have heard from those with the incentive to spread mis-truths that there is going to be a huge demand for The Pearl flats????

Rental can only drop in Qatar for all types of properties and for me especially high end the influx of people here are not big spenders but low wage workers and there must be an estimated 1,000 flats coming up over the next few months that surely no one has the money to rent e.g. 2 bed unfurnished The Pearl 18,000!! Come on who really has the money to spend that. Most workers started to heavily subsidise their home allowance here to just afford decent living and prices have really noticeably dropped.

Personally I have a client looking to rent a 3 bed unfurnished for 18k and think that will be extremely likely but at the same time with the Qatar Cool costs and service charges being so high will we see people making a loss through rental?

Qatar Expat,

Thanks for your input, quite useful and objective.

You said it all:

"Qatar has no long term future due to the shallowness of economic diversification. Economic fundamentals in this Country cannot, and never will support the amount of property being built, the Country is literally building homes for project managers who are building the homes, that is unsustainable."

I can assure you first hand that the "lenders" are not "lending!".

Well, that could mean anything. And the statement doesn't make the claim that anyone is actually *buying* a property, he's just saying some people are 'interested'.

So, for the sake of the argument, 10,000 people could have visited the Pearl to go and have a cup of coffee and look at the shops.

This would be more than the number of people visiting the Pearl in the past (because there was nothing to visit in the past) so, strictly speaking, the 'interest' in the Pearl, is 'unprecedented'.

Disingenuous, deceptive and misleading, sure. But not actually untrue.

Sales = Sales

Newspapers here = lies

Security = insecurity

As long as the Riyal is connected to the Dollar, it would act/invest with caution.

USA, well on it's way to become a SECOND WORLD country.

Solely war-industry can save the mighty pretentious Americans, as long as Europe pretends not to have an own opinion.

Legal,

By now I realize your are a man of little words, yet again I have to request:

Please elaborate.

Climber

Maybe you need to peg yourself to the forum or try to open a forum on finance pegging....

American car sales man do have to follow specific laws of each state, Example: Lemon laws, Full disclosure of the history of the car and many other things and honoring the warranties if any.

Abdullah Araj is showing that he is working under pressure for sales of those units. The problem is that people will fall for his rhetoric of demand.

Others won't fall for the bull crap of those Arab sales man, because inequity and severely outdated laws that will not protect you as a consumer do not exist. Unless, you are a Qatari National or have millions to throw around.

Heres another quote from the article in todays Gulf Times: Salim Abdul-Rahim, general manager of sales at the Pearl: The Pearl continues to generate "UNPRECEDENTED INTEREST" ! I would love to hear his explanation of just what exactly "unprecedented interest" is! Is it more interest than the rest of the world? Or more interest than last month? Both of which are not too impressive. AGAIN, NO NUMBERS TO BACK UP HIS CLAIM. Good try Salim. Keep em' coming!

While on the subject....

An Australian lady informed me that one of the zigzag towers is sinking..... IS THIS TRUE?

I do not believe it, howwwwwwwwwwwwwwwwever....

We all know the story about the Leaning Towers in Al Dafna, near Salam Plaza/City Centre, and how this building needs to be demolished.....

So, anything is possible here.....

Who knows, tell me!!!

Personally I think...

Buying in Qatar equals flushing your money through the toilet.

Why?

1 - Not a tourism designation

2 - Unstable laws/regulations

3 - Booming Real Estate Market, competition increasing

4 - Global economy, extremely slow recovery.

5 - Ask yourself: Who will retire in Qatar? Who will buy now?

My opinion, Real Estate here.... is a HUGE risk. Invest your money in secure businesses.

FUBAR ! Good ones and I heard many more on the sales tricks! Quite amusing. I think alot of these sales agents took the same courses American car salesmen take.

Your right, dont believe a word of the BS these people spew unless you personally know an insider. Its truly sad that these people do not have any idea good business is built on trust. Once that is gone, the customer is gone.

Anyone catch that total BS in todays Gulf Times abouth the Pearl? Abdullah Araj, exec VP making it out that units are in STRONG DEMAND. Very offending what little he thinks of the people who make up the market here.

I find it amusing that these developers voicepieces NEVER back up their claims with numbers. Like price per sq meter, number of units sold, you know, TRANSPARENT information that exists in reliable markets. But I guess that is too much to ask of Mr Araj. GOOD LUCK and keep your eyes wary.

actually, is there much selling or buying activity for the developers or in the secondary market????

I dont think so.

I think the only thing going on at pearl is is renting units to the original purchasers.

Buyers and banks are still unsure of the market and banks are making it tougher to get a loan.

There's a huge secondary market coming about in Qatar for freehold/leasehold properties and are at much more favorable rates than what the developers have been selling at.

A great site to take a look at what 'second hand' properties are going for, take a look at

www.mycoreo.com and click on Property Search.

All the best!

for the sake of all the original owners that bought for around that price and much more since then. However, let the free market reign!

The place is very beautifull, I am impressed. Anybody knows if I can get 3 bdrms for 10,000 QR/meter.

Hi Fubar,

Please note that I am not trying to sell you anything. My last post was unclear. The builder did not tell me about the rent amount. It was a friend I worked with who told me in passing about one of his friends. He has no connection to Pearl in any way.

Why dont you check out some Pearl rental prices and let me know. I would appreciate it.

Thanks,

Nina.

So after all the pressure and usual selling tricks that the sales people became famous for:

this is the last one, if you don't buy it today there will be none left tomorrow...

I have a special offer just for you...

The contract just fell through on a great apartment. There is a waiting list, but I can give it to you for a special price...

Your apartment will be ready next September, and if it's late we'll pay you a penalty...

And now when they say that someone is paying 20,000 to live there, you believe them?

There's one born every minute.

Actually I heard from our build Sabban, that UDC has delivered 30 units in their tower and people are ready to move in.

I also heard that someone is paying 20K QR/month to rent a studio (or 1 BR - not sure). That is not a bad return !

New expectations, prices are going to get stable again,

some of the Towers in Porto Arabia are going to be handed to there owners soooooooon. and that's why the owners are changing their minds about the prices which they were going to sell at earlier. but who ever got the cash now... can buy for really good price, if you're going to wait till September the prices are going to increase.... Fact.

It looks like no one was able to place ads for a while but it is working now...

thanks,

Nina

I tried few times to post an advert for the property sale on QL Classifieds and every time there is the message: "This service is not available to you. If you think this is an error please report it here. Please provide full details of the problem." Am I doing something wrong?

(Source: Info-Prod Research (Middle East))trackingAccording to Al-Sharq newspaper (February 8, 2009), a recently released survey by the Permanent Population Committee (PPC) shows that 93% of the economically active population in the State of Qatar are expatriates. The private sector employs 78.4% of the expatriate workers in Qatar. The public administration sector employs 73% of the economically active national Qatari population.

From Qatar's own surveys:

The 2007 Qatar Labour Force Survey provides a wealth of important labour statistics that will

greatly assist in the monitoring of the work force and in planning for its development. The survey

estimated that there were 831.9 thousand people economically active in the last week of October

2007 out of a working age population (15 years and above) of 977.0 thousand. There were 63.6

thousand economically active Qataris (7.6 percent of the total labour force) and 768.3 thousand

economically active non-Qataris (92.3 percent of the total).

Most of the economically active were male (87.6 percent), with an even higher proportion of non-

Qataris being male (89.4 percent). 64.5 percent of the Qatari labour force was male.

Most Qataris (54.7 thousand or 88.6 percent of the Qatari employed) worked in the public sector

(government departments and government companies), while most non-Qataris (600.6 thousand

or 78.4 percent of non-Qatari employed) worked in the private sectors (excluding mixed, domestic

and diplomatic sectors). (These statistics are based on an analysis of the number of

economically active people excluding new entrant unemployed but this is a very close estimate of

the number of employed since there were almost no unemployed with previous jobs.)

I bought one for QR1.3m nearly 2 years ago. Delays and more delays mean I reckon it might be early next year now when it is ready. Rent has been projected at 14 to 16K a month. I can't believe this, so I halved it when the real estate person told me it. Even if you quarter it to say 3.5K a month, that is still a 5% tax free return, which is what you'd probably better than what you'd get in the UK, then it'd be taxed. But I reckon it'll go for around 10K a month. I'll never live in it, it's just an investment. Went and had a look last week, the finishes are great.

The credit crunch has come at just the right time. They'll finish the Pearl but other projects will be delayed now as developers take fright. The population here has doubled from 850,000 to 1.6m in the 2 years I've been here and is still rising so I reckon with Qatar's healthy economy this will carry on. There are a huge amount of other projects about to start, including the underground system, which has been signed off and is due to start in May, with a stop at The Pearl. But I always look at worst case scenario where investments are concerned, and I am still glad I did it.

I'm not going to try to persuade anyone from either buying or not buying, that's up to the individual.

Nice web site...

It looks like you have some units at good re-sale prices and also some rentals.

thanks,

Nina

Prices going down, lots of flats available for sale, best prices now if you're interested in buying, I can get you an apartment for 10,500 qr per SQM, regarding the local banks, I have a contact with one of the banks who would gives 50% finance...

My advice is to wait till Aprill or May.... then contact me if you're ready with the cash. :P

Re-sale prices at the Pearl and other freehold areas are currently quite attractive. Our market in Qatar is much different than that of Dubai and the prices are bound to bounce back up once the Pearl & Zig Zag open for people to start living there.

.

Get a general idea of what prices are currently sitting at here: http://www.mycoreo.com/property.aspx

Dubai never had a law. There was nothing in ink just an understanding between the developers and the immigration department.All the government did was reminded the people that there is no such law and refused to issue any more visas!!!!

How do you know the Emiri decree won't change?

Dubai had one law, and is now going to change it to another.

It's no different.

:-)

Dont buy in Dubai. The visa policy is ambiguous and they can change it at any time. Qatar on the other hand has an Emiri decree guranteeing visa to property owners.

Dubai's hype went bust when the international financial market went flat but qatar has loads of oil and gas money which is holding the market together to a certain extent.The scenario isnt as bleak as everyone thinks.

Dear AbuYousif,

here is the link:

http://www.qatarliving.com/classifieds/accommodation?filter0=71&filter1=440&filter2=

thanks,

Nina

having read all comments above can some one indicate what the current prices are at the zigzag

have they dropped and if yes to what percent?

what are the current prices at the pearal?

cheers

Simply do not support the prices of the properties. This recent boom then crash was caused by the over valuation of all assets including property. Prices on the Pearl start at around 1.9 million. That simply is not justified.

Qatar simply does not operate like a normal economy, if we lose our jobs here we can't come back for 2 years, so why would you buy here. Without the freedom to find another job what is the justification of buying.

Simply the only people buying here and in Dubai were speculators sold on a fantastical idea that Oil and Gas money would continue to pour into the economy therefore resulting in a long term sustainable economy.

They were wrong, instead Oil and Gas money flowed straight into the banks of locals who built speculative towers, road projects, Asian Games stadia and huge Villa compounds. The labour was brought in cheaply and only a few professionals were needed, and it was the professional class who were the only ones who could even possibly afford any thing built here.

Locals became richer as they owned all the cement factories, steel producers and raw material imports. The money flowed and flowed but only to a small group of people.

What money does make it down to us mortals is generally saved and then sent abroad, again fatally undermining the economy.

Back to the towers, I had heard that the Zig Zag was in breach of copyright as someone had already done a similar design, I also heard that due to increasing material costs it cost 1 billion rials or it could have been dollars to build. Amazing that they could spend so much money and for it to look so cheap. I doubt they will be demolished.

As for the Pearl, the finish could be amazing, but they still won't have fully fitted kitchens with integrated appliances, and they still won't have luxury spa bathrooms, they won't have solid wood floors or solid marble worktops. And even if they did they would still be small and overpriced.

Also I heard today that all licenses for the Pearl were revoked and it will be dry except for the hotels.

So much for an entertainment destination.

dont buy anything until they start delivering......their are huge delays, and owners keep getting fed the same BS lines, i do accept that its a huge project, and delays are common, but we are speaking of delays which could last up to over a year on the minimum, if UDC could not handle a project like that, then why start it in the first place....their 1 million page contracts if you have the time to read it (i suggest you teach your child to read english when he is about 5, he might and i stress on the word might be able to get though the contract by the team he goes to college) mentions nothing about delays and fines for delays, it mentions that if in 1 year of the agreed upon date you dont get delivery of your house, then you inform them, and in 60 days they give you your money back.....

my suggestion, either buy in dubai palm islands (prices are dirt cheap supposedly their now) or wait for the first phase of the pearl to finish, or as others mentioned try other projects such as barwa al khor (i heard some very good things about it)

dont buy anything until they start delivering......their are huge delays, and owners keep getting fed the same BS lines, i do accept that its a huge project, and delays are common, but we are speaking of delays which could last up to over a year on the minimum, if UDC could not handle a project like that, then why start it in the first place....their 1 million page contracts if you have the time to read it (i suggest you teach your child to read english when he is about 5, he might and i stress on the word might be able to get though the contract by the team he goes to college) mentions nothing about delays and fines for delays, it mentions that if in 1 year of the agreed upon date you dont get delivery of your house, then you inform them, and in 60 days they give you your money back.....

my suggestion, either buy in dubai palm islands (prices are dirt cheap supposedly their now) or wait for the first phase of the pearl to finish, or as others mentioned try other projects such as barwa al khor (i heard some very good things about it)

I'm not going to comment on the quality of The Pearl.

And property 'value' means different things to different people.

However, when you look at what a nightmare the Dubai property market has become, who wouldn't get cold feet?

Aside from the huge losses and extended delays that buys are experiencing, there are also the practical uncertainties with regard to the amount that will be levied for maintenance, the connection of utilities, and most importantly, the issuance of visas.

The UAE looks set to change property ownership laws such that an owner will get a SIX MONTH, RENEWABLE RP upon purchase:

http://www.khaleejtimes.com/DisplayArticle08.asp?xfile=data/theuae/2009/February/theuae_February414.xml§ion=theuae

For me, that is a totally unattractive proposition, made worse by the knowledge that the visa law could change again at anytime.

I would have a hard time believing that such a thing would be unlikely or impossible in Qatar.

gerryqs - I find that hard to believe. Care to elaborate?

if you are sure they will be demolished then you should really buy, cause the government are paying good money :-))

gerryqs---really? Have you heard why? The waste of money is incredible.

There are plans for its demolition

controlpas, that is the true... and not just on the zi zag towers. i follow closely a lot of the projects in development here and a few already done... and have to say, it is unbelievable how bad buiding industry is here. in every levels.

Expat, I agree with you. The zigzag tower was horrible and terrible. I've been there and knew some of the people who's working on the project from the designers to the contractors. The material used was not the same as previously advertised. The designer seems to approved cheaper kind of materials with worst quality. In general, the building stands with its name as the same as its' quality "zigzag".

Is anyone naive enough to still believe there is ANY reason to put hard earned money on a property in Doha??? I would like to understand why people still insist on it. Good on you Qatarexpat.

A two bed flat in the Zig Zag. I made a profit and exited the market before the global turmoil really kicked off last year.

The quality of the apartment was terrible and I sold immediately after I saw it. It was not worth the money I brought it for let alone the money I SOLD it for.

I consider my self very lucky to have got out when I did.

the Pearl is a very impressive development of that there is no doubt, but they will have to bulldoze half of Doha to fill the flats, there are thousands of them.

In a recent newspaper article. It was stated that in Qatar at least 38% of people in the Country were directly employed in construction, this to me means that when the construction is finished there will be no demand for property.

Qatar has no long term future due to the shallowness of economic diversification. Economic fundamentals in this Country cannot, and never will support the amount of property being built, the Country is literally building homes for project managers who are building the homes, that is unsustainable.

Check the classifieds for people trying to sell on the Pearl.

I might get back into the market but only when I can buy a 2 bed flat for less than 1 million.

Actually, home prices are over inflated because rents are over inflated. The high home prices are relatively in line with the high cost of renting which is based on the high demand and the lack of supply.

I could argue some points but can't be bothered. I guess we all have our own opinions on whether Qatar is feeling the effects of the economic crisis and whether house prices (especially Pearl & ZigZag) are massively over inflated.

it has a font entrance and i can see the downside of having the mall not finished , but the pearl is not finished either.

The hole area is going to kep up it's price and for sure it's going to go up. Zig Zag is the first to be finished. Where else can you buy as an expat in Doha??? Exactly. Now look at Dubai . The prices whent down , but not that much and they have a huge offer for the expats. Here the offer is limited yet and so few finished -ready to live in.

Plus Qatar's economy is not in a crisis, but financing and helping others.

Can you move into the Zig Zag even though they're still constructing the shopping area that's attached to it?

And what are you basing your minimum 50% gain on, considering the prices have already been inflated by the "flipping" that went on when they first went on the market?

if you want to get something ready, you can go for the Zig Zag towers( next to the Pearl) they are ready,the quality is good and the prices are lower than the pearl but with the same facilities. I'll go on thursday to see one. They still have some for sale, but it's much cheaper to buy it from the ones that bought it in the project state. About the economy and prices...well I think they are going to be stable for a while, but if you plan to stay here for a few years you'll have a minimum 50% gain.

www.realestate.com.au

Put in a Brisbane postcode say 4000 for the city centre and go from there. You can still get something for AU$500K on 800m2 with plenty of space inside, Queensland style.

This is getting me homesick!!

This seems like good deal. I was actually wondering how much a house would cost, u know, one with a nice backyard etc etc probably in the suburbs or in the city itself. Anyway, thanks for the info gerry qs

Today I did a web search on www.realestate.com.au and found the advert below. At current rates this would be QAR1.3M. The quality would compare to the Ritz Carlton. A similar appartment in the Pearl would around QAR2M

Luxury CBD apartment!

Offers over $549,000

BRISBANE

Features: Inground Pool, A/C, Built-In Wardrobes, Close to Shops, Close to Transport, Secure Parking, Terrace/Balcony

This luxurious apartment is situated in the highly desirable Aurora Tower, which is popular and renowned for its quality, style and aesthetic.

The stylish kitchen features stone bench tops, quality stainless steel appliances and tiled splash backs. The dining and lounge area overlooks the amazing views of the twinkling city lights extending as far as the eye can see, in this spacious apartment.

The Aurora Tower features five star on site facilities including pool, spa, sauna, BBQ area and gymnasium. Located in the heart of the CBD, Brisbane's best shopping, dining, entertainment, culture and lifestyle is literally at your doorstep.

An exceptional investment opportunity in Brisbane's most desirable residential tower.

Features:

-2 bedroom

-2 bathroom

-1 car space

-air conditioning

Iris scanning security

Five star secure lobby entry

Security cameras to car park and podium levels

Additional on site mini storage availability

High speed lifts

30m heated lap pool with sun deck

Fully equipped gym & aerobics area

Sauna & Spa

Function facilities

Private bar

16 seat mini theatre

Craig Jackson

MOB: 0438 017 003

TEL: 07 3839 4844

[email protected]

www.tricityrealty.com.au

HOw much would a home cost in Brisbane?

Would I buy in the Pearl? - No, because I have an ideal home in Brisbane, Australia. If I wanted another holiday home it would not be in Doha as for me Doha is a place to work, not to holiday. I am not looking for any more investment properties due to falling prices and supply far exceeding demand almost worldwide. If the global economy was better I would seriously consider the Pearl. Quality issues would not be a factor in not purchasing at the Pearl. I can assure you it is not easy to get the quality up to standard, but the finished product will be good because there is a great deal of time and effort going in to making people on site aware what quality is and what level of quality we have to provide. If we do not achieve this it is simple - we do not get paid. This is why there are ex pat professionals there who understand what has to be done. The hard work is in making it happen

Dear Britexpat,

...I dont work for Sabban but I need to because they are not doing anything to sell the unit I bought from them...

Thanks for asking...

Nina

Dear Artist,

If you made your quick cash, good for you. I was not as smart or as quick. I am one of those dumb schmucks that bought simply with the intention to not have to pay the high rents. That obviously did work according to plan as the delivery is delayed by over one year. I am not staying in Qatar forever so I just need to figure out what to do eventually.

Have you woeked long for Sabban ?

The Pearl and other freehold projects were so hyped up that everyone was investing for the wrong reasons.... quick cash. I sure made me some.

This hype drove prices up... UDC, Sabban, First Qatar, The Land were selling units like there is no tomorrow. People were picking them up like hot cake. The price of the sqm was at 9000 at one point and went up to about 25000 for UDC and 15000 for other developers. This bulge in the realestate market was driven by demand... demand goes down, prices go down, companies and developers are screwed. At least a couple of developers have stopped after only piling.

Now go ask anyone who owns or sells these units, they would want to punch you in the face if you tell them that this sh** is not worth the price they are asking for. Go figure.

My advice, if you want to live there and you have cash, and you dont really care if the price swings 30 to 50%, then go for it... Good investment??? I have to pass.

Dear All,

Please note that you can easily schedule an appoingment with the Sabban Developer (974 432 5562) to see 3 different finished, furnished, model flats at 1 of their 3 buildings. I think you can view on 2 days of the week. The quality is definitely not the typical Doha standard.

Also, not only are these units 100% free hold, and not just 100 year lease, but one does not even need to have a Qatar Residence Permit RP to buy a unit. In fact, owners are entitled to an RP just for purchasing the unit. (they of course have to go through the same procedure and must not be criminals etc...)

One reason for buying, at least on the re-sale market, even if you dont count of the past huge value appreciations, is simply to not throw Ryals out the window on rent when you can actually build equity in something you own.

Lets keep up the good work here...

Nina

gerryqs...would you buy in the Pearl?

If yes - Why?

If no - Why?

gerryqs - I haven't viewed any properties on the Pearl so cannot comment on the quality. However, the various properties I have lived in in Qatar have had very poor finishings when compared to the UK, despite being 'high-end' properties. How are you ensuring that the Pearl does not suffer the same problems?

As with many replies to a post you allways get half truths, conspiracy theories or simply mis-informed opinions, I take exception to carol2008's response. Perhaps she could provide some facts to support her response.

Obviously I have an interest in the Pearl (check my profile) and I spend everyday working towards increasing the level of safety for our workers and the quality of finish for our purchasers. It is easy for people to make sweeping statements based on heresay or minimal information, but I can assure you carol2008 that my ex pat team put in over 65 hours each to make it work. We have 17 towers so I cannot speak for other companies but I see everyday the Pearl blossoming into a world class development.

As for investing or purchasing that is up to the individual or company. I really cannot comment on that simply because how someone wants to spend their money is their affair. If they are to make a decision based on responses from a website well they need a reality check.

The intersting thing is that those who work or have purchased at the Pearl are very positive, those who sit on the sideline or have not got the cash tend to put the Pearl down

And carol2008 maybe you could be proved wrong and your sweeping generalisations may be, in time, proved to be false

99 yr lease is only for properties in mainland qatar in those 13-14 districts identified by the Govt. The others i.e. Pearl, Lusail, Lagoon etc are freehold i.e. 100% ownership and they have a 99yr Insurance (not lease)...no need for local guy here

"Also you will not be able to hold it 100% you will have to get a local guy + Bank to do a 33% partnership....Why would you like to put up with that?"

Really? I thought the whole point was that non-qataris could buy without needing a "local guy".

If ownership is only for 99 yrs then why buy?

Also you will not be able to hold it 100% you will have to get a local guy + Bank to do a 33% partnership....Why would you like to put up with that?

In a property market that is caught up in recession (& not booming for sure) if they are not lowering the price ...then why are you interested to invest?

How does the Price here compare with those back home? If it is similar ....then why invest here?

These are my questions!

Y dont you check from UDC sales Dept itself for the right information?? btw, its true, the quality aint worth the price they charge per flat.

~noms~

"Before God we are all equally wise ' and equally foolish" - Albert Einstein

If you leave it to any developer to decide for you, they will inform the market is robust as ever and will still tell you real estate is a good investment. - nothing could be further from the truth.

Ask any of them to show you a list of number of sales and amount of sales in Qatari Riyals for the last year.

Truth is the market has slowed so significantly and all are content to hold on to pricing for the time being.

YOU WILL NEVER GET A GOOD HONEST DEAL FROM ANY DEVELOPER.

Go to a private party for a resale and there you will find the going rate. There are many individuals who wish to sell but little takers. This is the wya to go.

Quality of finishing?

It's just for 99 years only...LOL!

they never had quality things starting from design..

IF you want smth in Qatar, check Barwa Al Khor, price much cheaper now and the community will be higher level than Pearl. It' s far from Doha but see the upcoming changes..

Nina, before even think about it, try to check the poor quality of the construction and finishing of these flats... then if you are still interested... thinks about how reliable it is to do a deal over here and what protection is really assured for buyers...