Perl of Qatar
 

Hi folks, I am sure everybody heard of the project "Perl of Qatar", if not that's the link http://www.thepearlqatar.com/intro.htm
I'd be interested in your assessment of that property project and financial aspects of it.
I have been in touch with the manager and been told, a 3 bedroom apartment about 120 sq m (to be ready in 2008) is around 1 400 000 QR, 25 % of which an entrant would have to pay as installment. The industry standard (up to 25 years with 1 % principal) mortgage is not insured against inability to pay. One will be given a permanent resident permission on basis of property's ownership.
Frankly, I find that price overdone and think that eventually the price for the rest of unsold property, will be dropped after 2009 in order to regain the investment.
As alternate there's a possibility now to purchase a property in other distinct in Doha, which might be also interesting investing idea.
Cheers.