Qatar Real Estate
Ever since oil was discovered in Qatar in the 1940s this formerly economically weak fishing & pearling region has gone from strength to strength economically and currently boasts an economy & standard of living at par with most of the contemporary nations.
Positioned in the Arabian Peninsular and bordering Saudi Arabia to the South, the Emirate is otherwise bounded by the Persian Gulf and is self-governing and has been so since the early 1970’s. It does not form part of the United Arab Emirates and has not become part of Saudi Arabia.
Qatar is the hottest buzz word in up-and-coming property markets and savoir-faire investors are looking UP to the region to offer has been affording the world in recent years more of the incredible opportunities Dubai. Global confidence in Dubai Market has strengthened the fledgling investment property market in Qatar, resulting in the property market boom in Qatar.
The Pearl Qatar is one of the most remarkable and imposing developments. This man made island development is estimated to cost around $2.5 billion and is by far the largest property development being undertaken in Qatar. The second phase of the development was released in March 2005 to much anticipation. The Pearl Project post completion will form a 4-million sqm island home to around 30,000 people in an array of luxury and stunningly designed villas, town houses and apartments.
The Pearl will also feature hotels, restaurants, shops and boutiques as well as a 700 berth international yachting hub and the first homes are due for completion in 2007.
The consequence of this development should not be ignored, it will lift the profile of the Emirate, significantly improve and boost tourism numbers, the appeal of this location will become known globally and as a result the aspiration for freehold property in Qatar will strengthen which will lead to an ever escalation of the property market.
Looking to the Middle East region for the latest property hotspots or interested in diversifying your investment portfolio? If yes then it may well be time to consider the up-and-coming property market in Qatar.
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Qatar Real Estate News
The final draft of sponsorship law will be ready by the year-end, with more reforms in labour practices in the country in pipeline, announced a government statement yesterday.
The cost of construction materials in Qatar is likely to surge, as the Qatar intensifies infrastructure building and completion of other building projects ahead of the 2022 World Cup, say industry experts.
The land prices in Qatar are extremely high, and 10 times that of developed markets.
The United Developers have showcased their QR5billion development Place Vendome, at the recently held Cityscape Qatar exhibition in Doha.
House rentals in Doha may continue to rise in the next one to two months, despite the decline in oil prices, said DTZ, real estate consultancy.
One of the leading real estate development and investment events, Cityscape Qatar 2015, will be unveiled on 11th May, under the patronage of Prime Minister and Minister of Interior, HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani, at the Doha Exhibition Centre.
Leading UK-based architecture firm, Foster and Partners, has bagged the contract to build the Qatar stadium that would host the final of FIFA 2022 World Cup in Qatar.
Qatar has strengthened its position as one of the leading property markets for investors, as the growth in the sector is likely to continue further, supported by its strong economy.
Qatar will soon sign the contract to host Formula One Grand Prix in the next two years, said the President of Motor Sport Federation.
A new set of construction specifications has been issued in Qatar, and it will get effective three months after publication in the official gazette.
Real estate rentals in Qatar are third most expensive in the world, as per Numbeos Cost of Living Index 2015.
The Lusail Real Estate Development Company (LREDC) has announced completion of basic infrastructure facilities in the North and Western sides of Jabal Thelieb project.
Qatar-based MD Properties has bagged the Best Real Estate Agency in Qatar during the Arabian Property Awards in Dubai for the year 2014-15.
The office and residential markets in Qatar continued to remain strong during the third quarter of 2014 in Qatar.
A tender has been issued for Katara Towers, which is all set to be an iconic Grade A landmark at the Marina District in Lusail City.
The Minister of Youth and Sports, Salah bin Ghanem bin Nasser al-Ali has unveiled new housing project by Qatar Real Estate Investment Company (Alaqaria) for Qatargas and RasGas in Al Khor Community.
The announcement of mega projects at prestigious The Pearl-Qatar and Lusail City indicates the fast growth of real estate sector in Qatar.
While Qatar continues to move at a steady pace in its infrastructure preparations related to FIFA World Cup 2022, construction and real estate investments continue to grow at a steady pace too, says an official at the Qatar Financial Centre (QFC).
Leading Property Assets and Facilities Management Company has launched the first phase of renting out housing for workers at the Workers City at Barwa Al Baraha.
According to Qatar Central Bank (QCB) report on the Real Estate Price Index (REPI), the average prices for land, commercial and residential properties in June 2014 are 20 percent above their September 2008 peak.