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Tiny but wealthy Qatar, the world’s top liquefied natural gas exporter, plans to increase residential space by about 50 percent and office space by 40 percent in the next three years, partly on expected demand from the World Cup, according to a report published last week by real estate company DTZ. The lion’s share of construction underway is for high-end residential towers, white-collar office space, and luxury hotels and shopping malls bvlgari cufflinks price. FIFA requires Qatar have at least 60,000 hotel rooms in place for the month-long World Cup tournament, which Qatar estimates will draw about 1.5 million fans – more than half of its roughly 2.6 million population..
Qatar has about 26,500 rooms and will add another 15,000 by 2022, DTZ’s report estimated. The rest will be met by rooms aboard cruise ships and in desert camps, according to the local World Cup organizing committee. These camps are expected to be bedouin-style accommodation to give visitors a taste of desert life bvlgari cufflinks price. Much of the building is in an entirely new city, Lusail, a 38-square kilometer stretch just north of Doha dotted by commercial towers, hotels, and shopping centers at various stages of construction..
Lusail is being developed by state-controlled Qatari Diar Real Estate Company, which envisions it hosting 200,000 residents and 170,000 employees. It is anchored by Qatar’s largest World Cup stadium, an 80,000 seat venue that will host the opening and closing matches. Colliers International, whose office was an early entrant to Lusail, says getting companies to fill a rush of towers coming online ahead of 2022 will be a daunting task. “There is significant office oversupply and while the 2022 FIFA World Cup will help absorb space, new industries are required to bring large office occupiers in the medium to long term,” said Colliers’ Qatar country director Adrian Camps bvlgari cufflinks price.
In a bid to spur activity, Qatar last month ratified an investment law allowing foreigners full ownership of companies, and for years Qatar has designated certain high-end areas like Lusail open to foreigners, but brokers say demand remains low. Shopping malls, lacking the Saudi or Emirati shoppers who once flocked to them before the boycott, are among the most visibly affected, with some having to shutter shops in recent months bvlgari cufflinks price. New malls are being built anyway. Total retail space has doubled in three years and will grow 50 percent more by 2021 with nine new malls, according to DTZ..
TOKYO (Reuters) – A Nissan Motor governance committee will recommend the appointment of an external director as board chairman, a role distinct from company chairman, in a move to decentralize power at the top level, the Nikkei business daily reported on Sunday. Under Nissan’s current corporate charter, the position of board chair is automatically appointed to head the company board, the Nikkei said citing a source bvlgari cufflinks price. Former Chairman Carlos Ghosn had filled both roles prior to his arrest in November for under-reporting his salary for eight years..