The Pearl-Qatar (Arabic: اللؤلؤة قطر‎‎) 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 January 2015, there are 12,000 residents. 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 upon completion.