26/12/2012 13:24 GMT | Updated 26/12/2012 13:25 GMT

Janet Jackson 'Engaged To Wed Qatari Billionaire Wissam Al Mana'

Singer Janet Jackson will ring in 2013 with wedding plans after becoming engaged, according to a U.S. report.

The All For You hitmaker is set to wed billionaire businessman Wissam Al Mana after accepting his marriage proposal earlier this year.

A source tells, "(He) gave her a huge, expensive ring. She's afraid it will get lost, so she keeps it locked up."

janet jackson

Janet Jackson is reportedly engaged to Wissam Al Mana

The couple hope to exchange vows in Mana's native Qatar next spring and the 37-year-old plans on sparing no expense for his bride-to-be.

An insider adds, "He is flying in all of Janet's friends and family on private jets... (and) he wants to get a top chef to create a custom menu."

This will be Jackson's third trip down the aisle - she was previously married to James DeBarge and Rene Elizondo.