Sabban Property Investments (SPI) has announced that Provencal, the second tower of its luxury residential development - the Sabban Towers - will be released for sale at the second Qatar Real Estate Exhibition 2007. The move follows the recent announcement that 95 per cent of Florentine, the first tower launched in September 2005, has been sold out. SPI will heighten its participation as a gold sponsor and expects to benefit from the gathering of key decision makers during the event, which will be held at the Doha Exhibition Centre from May 21-24, 2007.
Provencal offers a total of 178 luxurious apartments with a choice from one to five-bedroom penthouses including 35 one-bedroom, 78 two-bedroom, 60 three-bedroom, 2 four-bedroom and 4 duplex penthouses. With prices ranging from QR 1.25 million to QR 7.5 million, the upscale residential units are expected to earn high yields for clients, having attracted keen interest since its launch. Provencal comprises one of the three towers of the QR 1 billion Sabban Towers development on The Pearl-Qatar, which has impressed investors from all over the world. Florentine, the first tower that was launched in September 2005, has only a few remaining luxury residential units available, whilst Tuscan, the third tower, has been exclusively reserved for the Sabban Group.
“Qatar is emerging as a highly viable location for high-end real estate market and is foreseen as the new Middle East hotspot, as the country diversifies its natural gas-based economy with a well-laid and comprehensive development plan that spans all sectors. The huge success of the Sabban Towers development is a reflection of the tremendous investor interest for Qatar’s economic potentials,” said John Browne MBE, Managing Director, SPI.
During the Qatar Real Estate Exhibition, visitors will be allowed to book apartments in Provencal in addition to also gaining information on the Carbon Neutral program that SPI is currently undertaking. As a developer with a well-defined environmental and corporate social responsibility program, the Sabban Towers, upon completion, will be the first carbon neutral development in the Middle East. Further, a dedicated sales team from Lifestyle Homes & Properties, the exclusive sales agents for the Sabban Towers, will be on hand to provide visitors with all the information they might need.
“Events such as the Qatar Real Estate Exhibition provide an influential platform for industry players to showcase their projects and reach prime investors. As a gold sponsor, we recognize the significance of the event and further manifest our commitment towards raising the bar of industry standards by highlighting our carbon-offset program. We are truly proud to have pioneered a carbon neutralization programme in the region, and future occupants of the Sabban Towers will share this distinction of possessing an environmentally-friendly yet luxurious residential development,” added Browne.
With a built-up area of 19,692 sq. m., Sabban Towers is constructed on one podium and this lends significant economies of scale and better facilities to the development. Its ideal location on Porto Arabia marina on The Pearl-Qatar provides occupants of its lavish apartments and penthouses a magnificent view of the marina and the sea. Further, the developer has allocated 6,115 sq. m. for a range of well-appointed amenities, which include a swimming pool and jacuzzi, child day-care centre, function rooms, squash and multi-sport courts, spas and gyms. The European-Mediterranean architecture of the exclusive towers is further complemented with a landscaped garden.
“We look forward to receiving a huge number of visitors to our stand, as we highlight the prestigious Provencal tower, which goes beyond offering opulent residential units. The development also reflects our commitment to alleviating the impact of our activities to the natural environment, and we aim to incorporate carbon offsetting in all future ventures as well as hope to set a trend towards carbon emission reduction in the industry,” concluded Browne.
About Sabban Property Investments (SPI)
Built on solid values that exemplify stability, social orientation, dynamism, personnel relations and commitment to ideals, Sabban Property Investments was established with a vision to lead the field by creating opportunities for people to own their part of the region's prosperity. By building strong bonds with people, SPI aims to claim its share of the promising future of the Gulf region and to contribute to it in a significant and meaningful manner.
In May 2005, Sabban Property Investments (SPI) announced its plan to build three residential towers (the Sabban Towers) on Porto Arabia, the main marina of The Pearl-Qatar, a US $2.5 billion island being reclaimed offshore from the Qatari capital of Doha. This makes SPI one of the first companies to build on the unique development, Qatar's first international freehold real estate venture.
