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 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.
Residential real estate sale transactions touched an all-time high during the second quarter of this year, driven by high purchases of freehold properties in prime localities such as Pearl Qatar.
The weakening rupee has made properties in India 20 to 30 percent cheaper for Non-Resident Indians (NRIs), according to latest report.
Real estate transactions has doubled this July in Qatar, despite the summer season and Ramadan, witnessing triple digit growth of 103 percent, touching QR5.
The transactions in real estate sector increased 81 percent, taking the total value of transactions during the second week this month to more than QR1.
The real estate transaction value in Qatar, dropped by 15 percent
year-on-year during the first five months of the year.
The Ministry of Municipality and Urban Planning is working on a project aimed at developing model residential districts in various parts of the country, which is intended to avoid crowding and congestion, otherwise seen in several old areas.
One of the leading real estate companies in Qatar, Ezdan Holding, is now involved in construction of more than 50,000 housing units to serve the influx of guests for 2022 FIFA World Cup.
Work on the Central Zone of Qatar Lusail City, which spans an area of more than 38 sq kms, will be completed within next two to three years, thereby adding life in three of the 19 integrated and mixed-use districts in this major project.
The value of total real estate transactions during last week of April touched QR807.
According to a report by The Bank of America Merrill Lynch (BoAML), Qatar is holding talks with the global football governing body FIFA to reduce the number of stadiums it builds for the 2022 FIFA World Cup, due to cost increase.
The first ultra-low energy villa, which could revolutionise the way people think about building homes in the entire Middle East region, was launched in Barwa City in Doha.