Ezdan Real Estate Unveils Comprehensive Scheme to Introduce 4000 New Residential Units to The Market In 2022
Ezdan Real Estate Company has revealed its plans to launch a series of brand-new residential compounds in Al Wakra and Al Wukair areas before year-end, which feature more than 4,000 various residential units between apartments of different sizes and villas distributed over 8 residential compounds, triggering a boom in the properties market by adding distinguished, high-quality real estate product at competitive rentals that respond to the rising demand for properties. This comes in alignment with Qatar’s hosting of the most prominent international sports tournaments.
During a recent press conference held by the company at Ezdan Hotel - West Bay Towers, Mr. Hani Dabash, Deputy Group CEO at Ezdan Holding Group, declared ERE's first projects in 2022 as part of its expansion plans, namely Murooj Al Wakra residential compound, reflecting a new chapter in its history. Being the latest developed project by Ezdan, the property features integrated services, modern furniture, and all means of comfortability. It comprises more than 187 residential units that are very unique in their quality, in a vital location in the city of Al Wakra, in addition to a package of reliable services that include high-quality furniture and kids' play area and playgrounds, gyms, and a swimming pool, in addition to a number of shops and a supermarket.
Commenting on these new achievements, “We regard Murooj Al Wakra compound as a complete success to be added to the record of achievements of Ezdan Real Estate Company, but it marks a new chapter in the history of the company. This aligns with the announcement of the company’s plans to launch a series of completely modern residential compounds, which will introduce more than 4,000 residential units to the market, no later than the end of this year. This responds to the requirements of the market during such defining moment in the State of Qatar, in light of its hosting of the largest and most prominent international sports tournaments, which is rendered as the most prestigious tournament in the world, as well as the most widely viewed and followed single sporting event in the world.” Mr. Hani Dabash said.
Murooj Al Wakrah compound comprises about 126 fully furnished two bedroomed apartments, featuring 61 villas consisting of four rooms, bathrooms, kitchen, and backyards, in addition to three shops and a supermarket, located in the heart of Al Wakra, a region that is witnessing a boom in the volume of commercial and investment business due to the road and infrastructure development projects in the city of Al Wakra and Al Wukair. Among these, are the metro rail project, and road projects that were opened to traffic to serve the areas and connect them with the rest of the country.
One of the recently opened compounds by Ezdan is Hayat Al Wakra, which consists of 294 units, including 287 fully furnished residential units, varying between apartments and villas, and it has already been fully leased to one of the major companies operating in Qatar
Upscale Properties
Expounding the nature of the properties to be introduced to the market, Dabash said, “They are simple with the qualitative difference in terms of full-range services. The new package of properties will shore up the rebound scheme of the real estate market, providing a high-quality product at a competitive price customized to all groups and classes looking for quality and cost-efficiency.”
Commenting on the new project, Dabash said “Our choice of the name as “Murooj” in Arabic denotes our belief in the importance of our care for the environment, and our keenness to include green spaces in our new properties, giving our compounds a new dimension that gives all its residents comfort, tranquility, and optimism, and we have worked to consolidate this trend by providing services that add luxury to the residents, such as gyms, swimming pools, billiards and squash halls, in addition to the saunas and steam baths.”
Comprehensive Revamp Plan
Ezdan’s Deputy Group CEO reiterated that Ezdan Real Estate focuses on improving and developing its services continuously and in a timely manner. In fulfillment of this commitment, the company revealed an integrated timelined scheme for the comprehensive development of a large number of villages and residential compounds during the current year 2022, which entailed 37 residential villages, with a total number of units exceeding 15,000 units, in 5 phases, which have already started during the past year 2021.
"In fact, we have developed a holistic plan, that aims to satisfy our customers, and we have conducted a comprehensive re-evaluation of all properties affiliated with Ezdan Real Estate Company to determine the condition of all residential units and their requirements between construction developments, furniture, electrical appliances, air conditioners and etc. As part of such relentless endeavors, we have launched the plan, which is being implemented in successive phases, seeking to cover up to 17 compounds and residential villages during the current year, and we expect to reap the first positive results of the development process soon, with the announcement of the completion of operations in one of our compounds. Among the revamped villages, are residential ones in Al Wakra and Al Wukair, and buildings in Doha. The development operations include replacing floors, painting walls, and performing integrated maintenance operations for buildings, in addition to replacing most of the furniture, electrical appliances, and air conditioners in the mentioned residential units.''
It was recently announced that the development plan has already been launched in a number of villages and residential complexes, and it included a package of external and internal refurbishing for the buildings, fences and gates that will be developed, in addition to providing residential units with furniture, and appliances. Works will also include renovating floors and kitchens, developing car parking shades and sidewalks, as well as modernizing main entrances and external lighting, renovating kids' play areas, swimming pools, and main playgrounds, gymnasiums, mosques, social clubs, and others.
It is noteworthy that Ezdan Holding Group owns about 32,000 multi-purpose units in Doha, and its environs as well as Al Wakra and Al Wukair, and they were offered during the last period for rent, including one of the phases of "Ezdan Oasis" real estate project, the largest of its kind in the Al Wukair area, (aka the land of million square meters), which consists of thousands residential, administrative and retail units, and it is an integrated city in the Al Wukair area.
Ezdan Real Estate Company had recently announced that the occupancy rate of residential units in all phases that were opened within Ezdan Oasis exceeded 90% during the past year 2021, signaling a remarkable success, as the number of residents in Ezdan Oasis exceeds more than 18,000 people. The most prominent real estate project in that area provides thousands of residential units and shops, including many sports and entertainment services, as well as a hypermarket, a school, mosques, and others.
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