$3.5bn Golf Residential Project In Qatar
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Gulf Times: Lusail will be home to a $ 3.5bn 'golf residential project' by 2014 as Bahrain-based Arcapita Bank and Kuwait's Al Imtiaz Investment Company have announced a joint venture to develop the world-scale facility.
The project, named Al Sidra, will be developed in Lusail in phases, on some 3.6mn square metres of which the golf course is to occupy about 1.5mn square metres.
The project masterplan is expected to be unveiled in the second quarter of the next year and construction will start in the third quarter. The project will be completed within five years in three or four phases.
Qatari Diar's Lusail Development seeks to create a state-of-the-art city over 35sq km, which can house about 200,000 people.
The Arcapita-Al Imtiaz JV will develop a golf residential community of up to 3,200 residential units centred around a Greg Norman Championship golf course, a Chris Evert Tennis Academy, as well as other facilities and utilities.
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