Qatar Real Estate Firm to Lease Philippine Islands to Build Landmark Areas


A Qatar-based real estate company is now proposing to lease various islands in the Philippines under the administration of Pres. Rody Duterte to build landmark areas to create our own version of Hong Kong, Taiwan, Singapore, and Dubai.

A Man-Made Island in Qatar
According to Charito Plaza, PEZA Director-General, in an interview with Gulf News, one of the leading newspaper in the Middle East, the Shaikh of Qatar has pushed the real estate company, Al Nitaq, to take advantage of the Philippines, 'strong economic growth and attractive investment scheme' under Pres. Duterte.
For the past few years, the Philippines has been a puzzle to economists, why is it that despite the presence of more than 7,107 islands the country is not as economically advanced as Hong Kong, Singapore or Taiwan.

The Philippines had all the necessary features such as white sandy coasts that seem to stretch on forever, and an unbeatable trove of natural resources. Some netizens noted that maybe because of the corrupt administration handling the Philippines until Pres. Duterte came to power.

Tropical Islands Near Palawan
Al Nitaq, the real estate company interested to invest in the Philippines will visit the country before the year ends to conduct studies.

The Qatar-based company planned to lease some Philippine islands which will be divided into economic zones for agroforestry and agro-industry. Other islands will be set apart as energy centers and tourist destinations.

Pres. Duterte broached earlier the notion of leasing the Philippine islands to foreign entities provided that will pay rental for those buildings and infrastructures, thereby creating the country's income.

Pearl Island of Qatar
The National Mapping and Resource Information Authority (NAMRIA) has been tasked to identify suitable islands for leasehold by foreign investors.

Source: Gulf News


Qatar Real Estate Firm to Lease Philippine Islands to Build Landmark Areas Qatar Real Estate Firm to Lease Philippine Islands to Build Landmark Areas Reviewed by Phil Newsome on 12/08/2016 Rating: 5

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