DOHA, 7 March 2004 — Qatar has unveiled plans to build a $2.5 million housing and tourism project on an artificial island off its coast that would allow foreigners to buy property in the gas rich Gulf emirate for the first time. “The Pearl of the Gulf” project was given the go ahead Monday by Qatari Prime Minister Sheikh Abdullah ibn Khalifa Al-Thani. The government will take a stake in the project, which will be sponsored by Qatar’s United Development Company (UDC).