01 June 2003

Qatar has granted a lease on a prime waterfront piece of real estate to Journey of Light (JOL), a British firm based in Jersey.

Under the contract, JOL will be granted a 99-year full concession lease on the 180-acre parcel of real estate.

The firm plans to develop a waterfront project - tentatively named the "Global Park," that will include:

Two five-star resort hotels and at least one three-star hotel, including health clubs and sports facilities;

Conference and convention centres as well as serviced vacation chalets associated with the hotels;

An office tower - for commercial, governmental and non-governmental organisation (NGO) tenants;

An Epcot-like park with several pavilion buildings relating to the themes of: science, space and space travel, energy, health, education, ecology, the earth and world heritages. A "space camp" facility is also under consideration;

The International Centre for Conflict Resolution & Prevention, a management training and educational facility dedicated to the latest techniques and science associated with corporate and political conflict resolution;

A wide variety of both upscale and moderate shopping, retail and restaurant facilities;

A landscaped setting for the entire Global Park.

The agreement with Qatar includes a 20-month period for JOL to complete the feasibility study and design phase. The entire park is to be up and running by early 2007, to coincide with the Asian Games in Qatar. The contract specifies that the government will reimburse JOL - up to a maximum $1 million - for the costs of a feasibility study.

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