On may 17, 2005 Issam Alsabban, Chairman of Sabban Property Investments (SPI) signed a contract to start the construction of three residential towers in Porto Arabia, the main harbor of The Pearl-Qatar.
Porto Arabia, the US $2.5 billion island which is being regained offshore. Doha capital of Qatar, has obtained the approval for the start from the island's developer and promoter, United Development Company (UDC).
These are his impressions of the day: «This is a very important day for us. We are in the enviable position of being one of the first companies to build on this unique development which represents Qatar's first international real estate venture.» Sabban Property Investments (SPI) is a Gulf-based, family-owned company on real estate development.
He believes that involvement into The Pearl-Qatar project enables them to realize their idea of converting land into residential communities.
Mr. Hussein Alfardan, Chairman of United Development Company, who welcomed SPI to The Pearl-Qatar, added that the agreement they signed ranks SPI among the first to launch construction on the luxury 20-storey towers on Porto Arabia, area supposed to become an international yachting hub.
The three towers will contain modern apartments and luxury penthouses ready to be occupied in August 2007.
The towers are designed to range from one to four-bedroomed luxury apartments. Most of them will have either sweeping sea or spectacular views. Three architectural styles are applied in towers construction to reveal The Pearl-Qatar's 'Riviera Arabia'.
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