The name “The Pearl” was chosen because the island is being built on one of Qatar’s previous major pearl diving sites. Qatar was one of the major pearl traders of Asia before the Japanese introduced cheaper more affordable pearls just before Qatar’s oil boom. The Pearl Qatar will help represent Qatar’s rich past in the pearl industry. Once completed The Pearl will resemble a string of pearls.
(TPQ) in Doha, Qatar, is an artificial island spanning nearly four million square metres. It is the first land in Qatar to be available for freehold ownership by foreign nationals As of spring 2012, there are more than 5,000 residents compared to more than 3,000 residents in spring of 2011
The Pearl is created over 32 kilometers of new coastline, for use as a residential estate with an 15,000 dwellings and 45,000 residents . Developed by United Development Company and planned by architecture and design firm Callison, the island is located 350 metres offshore of Doha’s West Bay Lagoon area.
In 2004, when the project was first revealed, the initial cost of constructing the island stood at $2.5 billion. It is now believed the project will cost $15 billion.