Qatar confident of property recovery

Many real estate developments in the Gulf may have been killed off by the financial crisis, but Qatar is pressing ahead with its grandiose property projects.

Despite delays, the $20bn Pearl development on reclaimed islands beyond the West Bay area of Doha is continuing, and the first ring of towers will soon be completed. Officials say Qatar is also progressing with plans to build the 21 sq km Lusail City to the north of the Qatari capital.

However, official optimism and continuing projects cannot mask the fact that the Qatari property market has been hurt by the fallout from the financial crisis.