The Property Management Qatar Company has increased its paid-up capital from KD1 million to KD40 million through the issuance of 390 million shares at 105 fils per share, including 5 fils non-refundable marketing and allotment fees per share. The minimum subscription was200,000 shares and the maximum subscription was 40 million shares.

Pearl-Qatar is a real estate project in the State of Qatar that consists of man-made islands with a total land area of 3,986,954 sqm that will create 40km of new coast-line. The project will be the first free-hold real estate project in Doha, allowing foreigners to own town houses, villas, and apartment blocks. It is located about 20km north of central Doha.

The project is expected to house more than 30,000 residents in a high quality and up-scale environment based on different Mediterranean themes. Pearl-Qatar project will be developed in four phases comprising of 10 themed distinct, the first phase began construction in 2005 and the whole project is expected to be completed by 2010. The Pearl-Qatar is by far one of the most ambitious and prestigious real estate projects to be undertaken in Qatar.

The facilities on The Pearl–Qatar will include residential villas, Multi-family residential dwellings (apartments/condominiums), retail shopping area, restaurants, three 5-stars hotels, entertainment and recreational facilities, schools, mosques, community centers, and parks.

First Qatar has secured four plots in different districts within the Pearl-Qatar project. The company will develop those 4 plots as residential towers and some will include commercial areas, with an estimated cost of KD 83 million. The expected internal rate of return (IRR) of First Qatar is expected at 19.1%. 

First Qatar is expected to be in a position to start paying dividend from Year 2. Dividend outflow is estimated to be around 75% of net profit each year.

It is worth mentioning that the State of Qatar has undergone a complete turnaround in its economy in the past decade. Driven by high oil prices and the development of the world¹s third largest reserves of natural gas, Qatar is emerging as one of the fastest growing economies in the region and in the world.

The actual investments into the Qatari natural gas industry have already surpassed $10 billion, with a further $30 billion expected to be invested in the future. This has acted as a catalyst for all the other sectors in the economy, including construction, real estate development, and services.