Qatar Real Estate News
National Leasing, Qatari Diar sign realty deal for citizens
The National Leasing Holding Company has entered into a contract with Qatari Diar to purchase real estate properties at Lusail, to construct villas for Qatari citizens. A total area of one million square meters, divided into 880 lots has been allocated for this purpose.
The final contract for sale and purchase orders will begin just after Diar completes the preliminary designs for each lot meant for sale. Diar will provide the required infrastructure for construction.
National Leasing plans to allocate one lot each to Nationals aged 18 and above. Each lot will be sold by the company through an electronic draw, which will be held during the end of this year. The selling price will be fixed at QR145 per square foot, with a repayment period of six years, beginning from the date of signing of the agreement.
During the date of signing the agreement, a down-payment of 20 percent of the selling price will be required. Thereafter, a grace period of one year will be offered to mark the first anniversary. The rest of the amount can be paid under installments at the rate of 20 percent of the selling price each year.
The agreement will mention the date of commencement of construction, which will be within two years from the date of signing the agreement. No extension or selling will be permitted until the completion of construction and issuance of title deeds.
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