Les Vagues 03 by Elie Saab

Les Vagues 03 by Elie Saab, crafted by Dar Global—a London-listed developer with USD 5.9 billion in projects across six countries—emerges as an exclusive waterfront enclave on Qetaifan Island North, Doha. Valued at QAR 1.4 billion (USD 384 million), this project, launched in Q3 2023, comprises 200 residences in a crescent-shaped cluster, designed by Zaha Hadid Architects, per Dar Global’s 2025 Q1 report. Construction started in Q2 2024, aiming for completion in Q4 2027, leveraging Dar Global’s delivery of 5,400 units with a 98% on-time record since 2017. Situated 3 km from Lusail Stadium, Les Vagues 03 taps into Qatar’s USD 200 billion economic diversification plan, including USD 5 billion for Qetaifan’s infrastructure, 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, anchoring the project in a thriving market. Elie Saab’s curated interiors and Qetaifan’s 1.3 million sqm of leisure offerings distinguish this development.

Residence Specifications

The 200 residences, spanning 150 to 350 square metres, cater to larger families with 2-bedroom apartments (150–200 sqm), 3-bedroom units (220–280 sqm), and 4-bedroom villas (300–350 sqm) featuring private elevators. Elie Saab’s interiors showcase a refined palette of ivory and gold, with hand-carved wood panels, polished onyx floors, and silk wall accents, per Dar Global’s 2025 specifications. Kitchens feature Gaggenau appliances, including induction cooktops and wine coolers, complemented by black granite countertops. Master bathrooms include Italian marble, freestanding tubs, and dual vanities with gold-plated fixtures. Smart home systems manage lighting, climate, and security via voice commands, integrated with Doha’s 5G network, per Qatar Communications Regulatory Authority 2025. Each residence offers 20- to 40-square-metre terraces with Gulf or marina views, while villas include 60-square-metre rooftop lounges. Branded residences yield a 15-30% price premium, selling 75% faster than non-branded, per CBRE 2025, ensuring strong resale prospects.

Amenities

Les Vagues 03 reimagines luxury with amenities tailored for exclusivity. A 2,000-square-metre private marina includes a yacht dock for 20 vessels, offering residents direct boating access. A 1,500-square-metre rooftop club features a 30-metre infinity pool, a cigar lounge, and a private dining room for 40 guests. The 1,200-square-metre wellness pavilion houses a gym with Matrix equipment, a pilates studio, and a spa with 10 treatment suites, including a hammam. Social spaces cover 900 square metres, with a library lounge, a 500-square-metre theatre seating 50, and a kids’ adventure zone. Dining venues include a waterfront bistro seating 70 and a rooftop cocktail lounge, curated for elegance. Outdoor areas span 3 hectares, with a 2 km coastal trail, sculpture gardens, and a sunken amphitheatre, aligning with 80% of Qatar buyers valuing integrated amenities, per JLL 2024. Security features 24/7 AI-enhanced surveillance and concierge services, reflecting Dar Global’s 92% satisfaction rate.

Community Benefits

Qetaifan Island North, a 1.3 million sqm masterplan, offers a dynamic coastal lifestyle, with Les Vagues 03 positioned 3 km from Lusail Stadium and 5 km from The Pearl’s 4 million sqm retail hub, hosting 2 million visitors yearly. The island integrates a waterpark, retail boulevard, and luxury hotels, drawing 1 million tourists annually, per Qatar Tourism Authority 2024. Education options include International School of Doha, 7 km away with 2,000+ students, and Qatar Finland International School, 9 km away. Healthcare is accessible at Sidra Medicine, 8 km away with 400+ beds, per Qatar Ministry of Health 2025. Lusail Boulevard, 4 km away, provides 100+ retail and dining venues, while West Bay’s beaches, 6 km away, enhance leisure. 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 signals robust demand, driven by Doha’s 9 million tourists in 2024, up 10%.

Ownership Advantages

Les Vagues 03 delivers compelling 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% compared to markets like London, per Qatar Financial Centre 2025. Payment plans offer a 70/30 structure—20% down (QAR 700,000), 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 achieved 10% price growth in 2024, with luxury residences yielding 7-9%, outpacing Doha’s 6% apartment average, per JLL 2024. Les Vagues 03 is projected to grow 8-12% annually through 2027, fueled 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 surpasses the GCC’s 85% average, mitigating 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 hit 9 million visitors in 2024, up 10%, with Qetaifan’s marina adding 3% to returns, per JLL 2025. The 2030 Asian Games, expecting 2 million visitors, will further boost values, per Qatar Olympic Committee 2025.

Architectural and Sustainability Features

Designed by Zaha Hadid Architects, Les Vagues 03’s crescent-shaped cluster features undulating glass facades inspired by tidal flows, using 65% locally sourced materials to reduce emissions by 10%, per Dar Global’s 2025 sustainability plan. The 200 residences boast 4-metre ceilings and seamless indoor-outdoor layouts, optimizing Gulf and marina vistas. Elie Saab’s interiors use eco-conscious materials like reclaimed oak and low-emission glass, 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 gardens. Smart climate systems cut cooling costs by 20%, aligning with Qatar’s 2030 sustainability goals, reducing Les Vagues 03’s footprint 15% below Doha’s average, per Ministry of Environment 2025. These elements cement its status as an eco-luxury landmark.

Developer and Partnership Strengths

Dar Global, founded in 2017, oversees USD 5.9 billion in projects, collaborating 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 investor confidence. Elie Saab, with over 50 years of haute couture expertise, commands 95% global recognition, per Statista 2024. His third Qatar project, following Les Vagues and Les Vagues 02, reinforces his design dominance, with 65% of GCC high-net-worth individuals eyeing branded residences in 2025, per Savills 2024. Dar Global’s regulatory mastery, unlike 15% of foreign developers, paired with Saab’s vision, minimizes risks seen in 10% of Qetaifan projects, per CBRE 2024, forging a partnership of unparalleled caliber.

Investment Potential Analysis

Les Vagues 03’s financial prospects are robust, rooted in Qetaifan Island’s thriving market. Rental yields average 7-9%, with 3-bedroom units generating QAR 120,000–160,000 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 minimize 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, supported by 1.5% population growth, per Qatar Statistics Authority 2025.