Qatar Real Estate News
Prices of housing in Qatar to grow by end of 2009
Housing prices in Qatar are likely to rise again towards end of this year, with the growth in real estate sector would continue to rise, due to infrastructure demands in Qatar, experts revealed last week.
Brian Meilleur, the President of Al Waab City, a $3.3bn mixed-use real estate project, when speaking during a construction conference in Qatar, mentioned that Qatar would attain stability towards the third quarter of this year, and thereafter the market would begin to grow once again.
The prices of residential units have dropped by 30 percent or more during the past six months, following global economic recession. But the high demand for property will continue to limit price weakness, says Jones Lang LaSalle, the real estate services company.
The Qatar economy is hoped to grow seven percent in 2009, stated H E Yousuf Hussein Kamal, the Minister of Economy and Finance.
Towards end of March 2009, there were 191 construction projects under progress in Qatar, which were worth a total of $82.5bn, said the Dubai-base research firm Proleads in April.
Posted on 10/6/2009