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 property market in Doha witnessed huge recovery during the period 23rd March to 27th March, with total value of transactions during the week having jumped by 270 percent, touching QR1.
Qatar will re-schedule nearly 15 percent of its planned building projects over the coming years, and move on to complete preparations for the 2022 World Cup soccer tournament.
Rabban Hospitality has announced commencement of work on its new 46 storey executive high-rise tower in Doha West Bay, with delivery of the tower likely in third quarter of 2015.
Qatar property sector is witnessing unprecedented growth, due to mega infrastructure projects being awarded.
Qatar is working on 250 major projects, worth more than $25bn, which is aimed to stimulate the real estate sector, and the economy of Qatar.
Real estate prices in Qatar are likely to shoot up by 20 to 25 percent this year, although a proportionate increase in rentals is unlikely, say real estate experts.
Huge capital expenditure on infrastructure has immense potential for construction in transport and real estate sector, and is unlikely to overheat the construction sector, said Pinsent Masons, an international law firm.
According to the latest cabinet decision issued yesterday, a quicker disposal of disputes between tenants and landlords over rent and occupancy-related issues can be expected.
Doha residential market has experienced robust growth in transaction volumes, sale prices and rental prices led by high-end areas such as West Bay and The Pearl.
Damac Properties, one of the largest real estate developers in the region has achieved key milestone in construction of its luxury serviced hotel apartment project in Doha, namely the Burj Damac Marina.
Real estate market in Qatar is seeing steady growth in land value, with rentals having grown between 20 to 30 percent this year, in comparison to previous year.
The residential market in Qatar, which is already in its recovery phase, is offering one of the highest returns on investment (6 to 8 percent) in the Middle East region.
The fall in land prices in Qatar since May this year is likely to slow down rental increase, said the QNB Group analysis.
The 11th edition of International Construction Technology and Building Materials Exhibition (Project Qatar 2014) will be held from 12th to 15th May at the Qatar National Convention Centre (QNCC).
Capstone Property Services Qatar have been appointed to facilitate renting, leasing and management of residential units at VB22, Viva Bahriya, at The Pearl Qatar.
According to real estate market experts in Doha, residential rents may shoot up by 20 percent a year from 2015, if the continued demand due to heavy influx of foreign workers is not met.
The largest real estate exhibition in the region, namely the Cityscape Global 2013, is being held at the World Trade Centre, Dubai, and The Mall of Qatar, displayed there has generated plenty of interest among retailers and media personnel.
Hill International, a leading construction management company, has been awarded the contract to offer construction management services for the new National Museum of Qatar.
The real estate transaction rate in Qatar has recorded a huge 32 percent growth during this summer, in comparison to same period last year.
Ezdan Holding Group has completed the first phase of Ezdan City in Wakair area, housing more than 1300 housing units for corporate sector.