Qatar Real Estate News
Realty sector shows strong recovery due to improved credit offers
The total credit extended to real estate sector in Qatar, grew by 53% year-on-year in May, indicating a strong recovery in the sector. This surpasses the total domestic loan growth, although there was a decline recorded in consumer loans.
Further, the total credit offered to private sector, surpassed that of public sector, reflecting the growth potential amidst country’s diversification. The credit offered by Non-Arab banks were more than that offered by their Arab counterparts. The total credit offered by commercial banks to real estate sector, the second largest recipient of loans, grew, touching QR59.97bn in May 2011. This is in comparison to just QR39.19bn during the previous year. As per the data by Qatar Central Bank, the realty sector constitutes 19.9% of total domestic credit.
Posted on 12/7/2011