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Real estate transactions in Qatar hit an all-time high in 2015

The value of real estate transactions were an all-time high in Qatar this year, and touched QR56.3bn last year, marking a 5.6 percent increase over the previous year.

The total transaction value last year was QR53.3bn, being 26 percent more than that in 2013 in comparison to QR44.7bn. The annual figures are based on weekly reports on transactions issued by Real Estate Registry at the Ministry of Justice.

According to experts, the real estate sector continues to remain as vibrant as ever and unaffected by the falling oil prices and is likely witness growth in future.

The real estate sector in Qatar has recorded the highest growth in the region, and more growth is expected in future too, amidst preparations for the 2022 FIFA World Cup for which thousands of housing units, several hotels and related facilities are to be built, said Sheikh Jassem bin Thamer Al Thani, expert and businessman.

The coming years will fare well for the sector as the state budget has allocated huge investment for infrastructure development projects. These projects are meant for development of roads, drainage and other services, and will further encourage launch of more real estate infrastructure projects in new areas, said Mansor Al Mansur, a businessman.

The decline in petroleum product prices has not directly affected the real estate sector. The demand for real estate continues to grow amidst growing influx of expat workers and economic development, Al Mansur said.

The huge real estate sales reflect the power of national economy and participation of private sector in the process of development. The sector is keeping pace with development plans and has seen growth over the past years, said Hasan Al Hakim, a businessman.

Posted on 15/1/2016

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