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Construction and real estate sectors in Qatar beginning to dominate
Century 21 Qatar, in its latest monthly overview report on the Qatar real estate sector, said that the real estate market has begun to dominate, and owners are now more market-driven about their pricing strategies and are offering alternatives.
With increased supplies, property companies are entering into aggressive competition, thereby creating an improved market. The increase in activity within the market and the ease in declining prices, indicate that the market bottom-out is very promising. There is a tendency for stabilization, noticed in various property asset classes, particularly villas.
The demand-supply gap is however, likely to favour an oversupply and this is likely to remain throughout the year, although a demand is seen to rise progressively, due to growth in business and quality of tenants.
The report also pointed out that construction activities in Qatar are on the rise. Construction of residential buildings, are happening at Al Mansoura, Umm Guwalina, Bin Mahmoud, and Al Muntazah. Low to mid-rise commercial buildings too, continue to grow around Doha, emphasizing the strength of current real estate sector.
As for office market, the demand levels are still below supply volumes, and as a result, the rates continue to grow, says estimates by Century 21 Qatar.
Posted on 10/5/2010
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