Ali Mohammed Al Obaidli, Ezdan Holding Group CEO:
• 60% of Ezdan Oasis project in Al Wukair completed, the first phase early next year
• The total cost of the project exceed QR4.5bn, providing a variety of 9,346 unit
• Ezdan Oasis comprises 8 mosques, 5 sports clubs, 2 huge hypermarkets
• Ezdan approaching the barrier of 30,000 housing units with the completion of Ezdan Oasis
Ezdan Holding Group has revealed in Cityscape Qatar 2016, which takes place from 26 to April 28, full details about Ezdan Oasis project, which is expected to accommodate more than 35,000 people. The project includes integrated services such as mosques, sports clubs, schools, shops and offices as well as more than 8,769 residential units.
Ezdan Holding Group CEO Mr. Ali Mohammed Al Obaidli said that Ezdan Oasis located in Al wukair area will be a remarkable leap to the region in terms of increasing population density and the provision of appropriate units that would meet the Qatari market demand for housing units. He pointed out that the Group is planning to launch the first phase of the project during the first quarter of next year, while the following stages will be in the next few years successively.
Obaidli noted that more than 60% of the project is complete in terms of infrastructure works, as well as various and diverse facilities. He explained that the project features modern residential concept as of the integrated different services it provides, especially that the project is spread over a vast land space, given preference to design process to provide various facilities for residential and commercial purposes as well as sports and administrative.
Thorough Studies before kick off
The Group CEO noted: "The Group meticulously planned for this project and prepared adequate studies before proceeding to implement it, based on the project site and location as well as the Qatari market demand in providing appropriate number and adequate quality of housing units. This is not something new for the Group, which is always considered a role model for real estate market and investors, revealing giant key projects that commensurate with the size of the Group's investments as well as the new property concept it launches in the market.”
Regarding the Project estimated cost, Obaidli stressed that the plans and preliminary assessments indicate that the total cost of the project will exceed QR4.5 bn. “ We expect that this project will contribute to achieving superior returns for shareholders, especially with the inauguration of the first phase and later on the following phases. The project is the first of its kind in the Middle East and may be in the world with such an enormous number of units owned and managed by one entity, “ Obaidli added. It is worth mentioning that, with the project, Ezdan Holding Group will own and manage up to 30,000 residential and commercial units.
The land of a million ……a new concept
As for the number of subdivided units provided in Ezdan Oasis, CEO said that this project enjoys a horizontal area exceeding one million square meters, known by the market as ‘the land of a million’ or ‘the project of a million’ as it is a vast area, expected to offer a variety of more than 9,346 units, 8,769 of which are residential, while the rest vary between commercial and offices.
In addition to these units, the project includes a diverse range of public services facilities, including eight mosques, two of which are big; to serve worshipers. The project consists also of five sports clubs which are aimed at accommodating residents of the project wishing to exercise and practice sports, as well as a hypermarket on 24.5 thousand square meters in order to provide different goods, in addition to two schools with an accommodation capacity of 1,408 students each. This project is intended to, in the framework to consolidate the modern concept of housing, ensure the well-being of the population and facilitate the access to the basic needs for people and their families.
Ezdan Oasis Project aims to accommodate over than 35,000 people, while the Group currently owns about 25 residential villages of integrated services in Al-Wukair, consisting of more than 15,000 housing units with a population of more than 70,000 people. This would mean that the total number of residents of Al Wukair units owned by the Group will be up to 100,000 in a few years, the fact that will be an unmatched achievement for the Group.