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Tuesday, January 21, 2020 

Turku, Finland based company Admares, which describes itself as a leader in alternative real estate, has signed a memorandum of understanding (MoU) with Qetaifan Projects of Qatar to build and operate 16 floating hotel units for use in conjunction with the 2022 FIFA World Cup.

The units will be situated on Qetaifan Island North to provide visitor accommodation. Each will be 72m long and 16m wide with 101 guest rooms, a restaurant, and bar, on four decks.

H.E Sheikh Nasser bin Abdulrahman Al-Thani, MD of Qetaifan Projects and Vice Chairman of Katara Hospitality said: "We are pleased that there are investors who share our vision and see the development of Qetaifan Island North as a promising project that has a future as the first touristic destination in Qatar. This indicates the aspiration of investors in the returns due to the safe and secure climate achieved by the state to encourage and attract foreign investment and create new opportunities, which will reflect positively on the local market, encourage competition, and stimulate the state sectors in all fields, especially with the recent developments witnessed within these sectors.”

Admares employs advanced construction methods that combine cutting-edge marine, offshore, land and modular construction techniques, said to offer greater returns for developers, shorter project timelines and minimal environmental impact. The floating hotels will be built to the strictest energy standards, relying on solar energy.

“This is the first time ever that pure floating real estate has been used as a temporary solution for accommodation needs at this scale. These hotels do not require major ports and deep water as their draught is significantly less than large cruise ships”, said Mikael Hedberg, CEO of Admares. “After the World Cup, the hotels can be placed at any coastal location where the water is at least 4m deep. We are excited to be part of the solution for the amount of accommodation needed for the FIFA World Cup 2022.”

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