According to the Wall Street Journal WSJ; Barwa Real Estate Co., a local firm partly-owned by the government, is planning to develop an island, which will feature five floating hotels, luxury villas and a water park, off the coast of Doha at a cost of about $5.5 billion. The Oryx Island will use electrical vehicles, water taxis, ferries and private boats to transport visitors, according to the company.
The Oryx Island project is said to be able to accommodate about 25,000 people and is slated for completion in seven to eight years time.
Plans for the mega real estate project come amid a wider building and infrastructure boom in Qatar in the run-up to the 2022 event. High government spending on new roads, drainage systems, a rail network and stadiums for the World Cup are all seen boosting Qatar’s economic growth in the years ahead.