DOHA: The value of real estate transactions were all-time high and reached QR56.3bn last year, up 5.6 percent over the previous year.
The value of the deals in 2014 was QR53.3bn, the growth being 26 percent over 2013 compared to QR44.7bn. The yearly figures are based on weekly reports on transactions issued by the Real Estate Registry at the Ministry of Justice.
Experts and businessmen said the real estate sector remains as vibrant as ever and unaffected by the falling oil prices and is expected to witness more growth in future, Al Sharq reports. “Qatar’s real estate sector has recorded the highest growth in the region and more growth is expected in the future amid preparations for the 2022 FIFA World Cup for which thousands of residential units, many hotels and related facilities are to be built,” said expert and businessman Sheikh Jassem bin Thamer Al Thani. “The coming years will augur well for the sector as the state budget has allocated a huge portion of expenditures for infrastructure development projects,” said businessman Mansor Al Mansur.
The projects are related to the development of roads, drainage and other services and will encourage the launch of more real estate infrastructure projects in new areas, he added.
The declining prices of petroleum products have not affected the real estate sector directly. Demand for real estate continues to grow amid an increasing influx of expatriate workers and economic development, said Al Mansuri. The huge sales of real estate reflect the power of the national economy and participation of the private sector in the development process. The sector is keeping pace with development plans, said businessman Hasan Al Hakim and witnessed growth in the past years — whether sale of plots of land for new projects or ready-for-use properties.
The Peninsula
DOHA: The value of real estate transactions were all-time high and reached QR56.3bn last year, up 5.6 percent over the previous year.
The value of the deals in 2014 was QR53.3bn, the growth being 26 percent over 2013 compared to QR44.7bn. The yearly figures are based on weekly reports on transactions issued by the Real Estate Registry at the Ministry of Justice.
Experts and businessmen said the real estate sector remains as vibrant as ever and unaffected by the falling oil prices and is expected to witness more growth in future, Al Sharq reports. “Qatar’s real estate sector has recorded the highest growth in the region and more growth is expected in the future amid preparations for the 2022 FIFA World Cup for which thousands of residential units, many hotels and related facilities are to be built,” said expert and businessman Sheikh Jassem bin Thamer Al Thani. “The coming years will augur well for the sector as the state budget has allocated a huge portion of expenditures for infrastructure development projects,” said businessman Mansor Al Mansur.
The projects are related to the development of roads, drainage and other services and will encourage the launch of more real estate infrastructure projects in new areas, he added.
The declining prices of petroleum products have not affected the real estate sector directly. Demand for real estate continues to grow amid an increasing influx of expatriate workers and economic development, said Al Mansuri. The huge sales of real estate reflect the power of the national economy and participation of the private sector in the development process. The sector is keeping pace with development plans, said businessman Hasan Al Hakim and witnessed growth in the past years — whether sale of plots of land for new projects or ready-for-use properties.
The Peninsula
