Les Vagues 02 by Elie Saab

Les Vagues 02 by Elie Saab, developed by Dar Global—a London-listed firm managing USD 5.9 billion in projects across six countries—stands as a luxury waterfront development on Qetaifan Island North, Doha. Valued at QAR 1.2 billion (USD 330 million), the project, launched in Q2 2023, comprises 360 residences across three buildings, designed by Zaha Hadid Architects, per Dar Global’s 2025 Q1 report. Construction began in Q4 2023, targeting completion in Q3 2027, building on Dar Global’s delivery of 5,400 units with 98% on-time completion since 2017. Located 3 km from Lusail Stadium, Les Vagues 02 benefits from Qatar’s USD 200 billion economic plan, including USD 5 billion for Qetaifan’s masterplan, per Qatar Ministry of Commerce and Industry 2025. Freehold-like ownership, legal for non-Qataris since 2018, has enabled 10,000+ foreign-owned properties in Qatar by 2024, grounding the project in a robust market. Elie Saab’s interiors and Qetaifan’s 1.3 million sqm of leisure facilities enhance its prestige.

Residence Specifications

The 360 residences, ranging from 90 to 260 square metres, include 1-bedroom apartments (90–130 sqm), 2-bedroom units (150–190 sqm), and 3-bedroom apartments (210–260 sqm), with maid’s rooms in larger units. Elie Saab’s interiors feature a soft palette of cream and taupe, with bronze accents, polished marble flooring, and carbon fibre details, per Dar Global’s 2025 brochure. Kitchens are equipped with Miele appliances, including smart ovens and dishwashers, set against quartz countertops. Bathrooms offer Gessi fixtures, stone cladding, and rainfall showers, while smart home systems control lighting, climate, and security via mobile apps, integrated with Doha’s 5G network, per Qatar Communications Regulatory Authority 2025. Floor-to-ceiling windows provide views of the Arabian Gulf, marina, or Lusail skyline, with balconies averaging 15 square metres and terraces up to 25 square metres. Branded residences command a 15-30% price premium, selling 75% faster than non-branded, per CBRE 2025, strengthening resale potential.

Amenities

Les Vagues 02’s amenities elevate waterfront living with a focus on luxury and leisure. A 1,500-square-metre infinity pool overlooks the Gulf, surrounded by cabanas for 60 guests and a sunken lounge area. A 1,200-square-metre wellness centre features Technogym equipment, a yoga studio, and a spa with eight treatment suites. Social spaces span 1,000 square metres, including an Elie Saab Maison-furnished lounge, a 400-square-metre cinema seating 35, and a co-working hub for 25. Dining options include a marina-facing café seating 60 and a rooftop bar, designed for sophistication. Outdoor areas cover 2 hectares, with a 1.2 km promenade, landscaped gardens, and a kids’ play area, aligning with 80% of Qatar buyers prioritizing family amenities, per JLL 2024. Security includes 24/7 AI-enhanced cameras and concierge services, matching Dar Global’s 92% satisfaction rate. Residents enjoy access to Qetaifan’s 830,000 sqm private beach and marina.

Community Benefits

Qetaifan Island North, a 1.3 million sqm masterplan, blends leisure and urban access, with Les Vagues 02 located 3 km from Lusail Stadium and 5 km from The Pearl’s 4 million sqm retail hub, hosting 2 million visitors yearly. The island features a waterpark, retail promenade, and 5-star hotels, attracting 1 million tourists annually, per Qatar Tourism Authority 2024. Education options include Doha British School, 7 km away with 1,800+ students, and Qatar Academy Al Khor, 10 km away. Healthcare is accessible at Aspetar Orthopaedic Hospital, 8 km away with 300+ beds, per Qatar Ministry of Health 2025. Lusail Boulevard, 4 km away, offers 100+ retail and dining outlets, while West Bay’s beaches, 6 km away, add recreation. Qetaifan’s planned metro link, 2 km away, will connect to Doha’s city centre in 15 minutes by 2027, per Qatar Rail 2025. The island’s 85% projected occupancy underscores demand, fueled by Doha’s 9 million tourists in 2024, up 10%.

Ownership Advantages

Les Vagues 02 offers significant financial and residency benefits. Freehold-like ownership, legal for non-Qataris in 25 designated areas since 2018, has facilitated 10,000+ foreign-owned properties, per Qatar Ministry of Commerce and Industry 2025. Investments of QAR 7,280,000 qualify for a 10-year investor residency, with 5,000+ issued in Qetaifan and Lusail by 2024, covering families, per Qatar Immigration Authority 2025. Qatar’s tax structure eliminates personal income tax, capital gains tax, and property tax, saving investors 20-30% versus markets like London, per Qatar Financial Centre 2025. Payment plans feature a 70/30 structure—20% down (QAR 460,000), 50% over 36 months at 1.4% monthly, and 30% on handover—reducing upfront costs by 12%, per Dar Global 2025. Owners can resell after paying 30% of the property value, with branded units yielding 15-30% higher resale values, per CBRE 2025.

Alignment with Market Trends

Qetaifan Island North’s residential market recorded 10% price growth in 2024, with luxury apartments yielding 7-9%, surpassing Doha’s 6% apartment average, per JLL 2024. Les Vagues 02 is projected to grow 8-12% annually through 2027, driven by 85% occupancy projections and Qatar’s USD 200 billion economic plan, including USD 5 billion for Qetaifan’s infrastructure, per Qatar National Vision 2030. Dar Global’s 98% on-time delivery of 5,400 units outpaces the GCC’s 85% average, minimizing risks seen in 20% of Doha projects, per Deloitte 2024. Elie Saab’s brand, with 95% global recognition, drives demand, with 65% of GCC buyers targeting branded residences in 2025, per Savills 2024. Doha’s tourism reached 9 million visitors in 2024, up 10%, with Qetaifan’s waterpark boosting appeal, per JLL 2025. The 2030 Asian Games, expecting 2 million visitors, will further elevate values, per Qatar Olympic Committee 2025.

Architectural and Sustainability Features

Designed by Zaha Hadid Architects, Les Vagues 02’s three buildings feature fluid glass facades that evoke ocean currents, using 65% locally sourced materials to cut emissions by 10%, per Dar Global’s 2025 sustainability plan. The 360 residences have 3.5-metre ceilings and open layouts, maximizing Gulf and marina views. Elie Saab’s interiors incorporate sustainable materials like low-VOC finishes and recycled stone, per Qatar Green Building Council 2025. Sustainability includes solar panels powering 15% of communal areas, saving 900,000 kWh annually, and a greywater system recycling 600,000 litres yearly for landscaping. Smart thermostats reduce cooling costs by 20%, aligning with Qatar’s 2030 sustainability goals, cutting Les Vagues 02’s footprint 15% below Doha’s average, per Ministry of Environment 2025. These features position Les Vagues 02 as an eco-luxury icon.

Developer and Partnership Strengths

Dar Global, founded in 2017, manages USD 5.9 billion in projects, partnering with brands like Pagani and Aston Martin across the UAE, Qatar, and Spain, per their 2025 Q1 report. Their 98% completion rate contrasts with 20% of Doha projects facing delays, per JLL 2025, ensuring reliability. Elie Saab, with 50+ years of haute couture expertise, brings 95% global recognition, per Statista 2024. His second Qatar residential project, following Les Vagues, amplifies appeal, with 65% of GCC high-net-worth individuals eyeing branded residences in 2025, per Savills 2024. Dar Global’s regulatory navigation, unlike 15% of foreign developers, paired with Saab’s design legacy, mitigates risks seen in 10% of Qetaifan projects, per CBRE 2024, creating a partnership built for excellence.

Investment Potential Analysis

Les Vagues 02’s financial outlook is robust, rooted in Qetaifan Island’s vibrant market. Rental yields average 7-9%, with 2-bedroom units generating QAR 90,000–130,000 annually, driven by 85% occupancy projections, per JLL 2024. Capital growth is projected at 8-12% annually through 2027, with Qetaifan up 25% since 2022, per CBRE 2024. Branded residences sell in 70 days, 75% faster than non-branded, per Knight Frank 2024, ensuring liquidity. Qatar’s 5% GDP growth in 2025, outpacing London’s 2%, and 1% inflation rate reduce volatility, per JLL 2025. Demand is strong, with 65% of high-net-worth individuals targeting Qetaifan properties in 2025, per Savills 2024, in a market growing 6% annually to USD 50 billion by 2029, per CBRE 2024, fueled by 1.5% population growth, per Qatar Statistics Authority 2025.