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A Towering Sale Deal

Durat Al Doha signs a MoU for the sale of an entire tower at The Pearl-Qatar to German investment house Trend Capital

Real estate developers Durat Al Doha, that is currently building an ensemble of five towers at The Pearl Qatar, has signed a Memorandum of Understanding (MoU) with German Realty Fund Trend Capital to sell them one of the five Imperial Towers on a turnkey project basis.

The signing ceremony took place at the 3rd Qatar International Real Estate & Investment Conference & Exhibition (Q-REX) held recently in Doha. Mr. Ali Sayed Teymur, member of the Executive Committee, represented Durat Al Doha while Mr. Frank Simon, Chairman and General Manager, signed on behalf of Trend Capital.

The five Imperial Towers are being constructed on Viva Bahriya, the second phase of The Pearl Qatar. Scheduled to be ready by 2010, each of the towers has been designed in an architectural style belonging to one of the five continents so that each tower will be distinctively different from the others. This fresh approach will inject diversity and individuality into each of the buildings. Each tower will have between 154 and 166 apartments and two luxurious four-bedroom penthouses. A choice of 1, 2 or 3 bedroom apartments will be available, in addition to a few very special units with private access to the beach. All in all, the Imperial towers will be perfectly suited for families wishing to live the Riviera lifestyle.

“The Imperial Towers is our flagship project, and we are naturally thrilled that it is attracting international investments,” said Mr. Teymur, “although it is to be expected, considering that The Pearl Qatar is one of the most prestigious addresses in the region.” He added: “Trend Capital has been a prudent investor in the region for the past five years, and we’re confident this investment will also turn out to be very profitable for them. The strength of Imperial Towers is its unique design and style and this is what is making so far a success and attraction among both investors and direct clients wishing to live in Viva Bahriya in the future.”

Mr. Simon, of Trend Capital, said: “The agreement marks our first major foray into the Qatari market, and we couldn’t have made a better choice. The Pearl Qatar is an address that needs no introduction anywhere in the world, and the progress that Durat Al Doha is making on the Imperial Towers is commendable.” He added: “We are confident this will turn out to be a lucrative venture for us, and surely the first of many more to come in Qatar’s booming market.”

Founded in 2000, Trend Capital is a German investment house with a keen focus on real estate and renewable energy, particularly in the Middle East. Operating out of its head office in Mainz, Germany, Trend has developed a strong reputation in the German financial markets for their expertise on international real estate investments and developments in emerging countries. Trend Capital has had a well established presence in Dubai for the last five years, and the investment in the Imperial Towers marks their entry into Qatar.