Real estate sector enhances Qatar's position as a regional business hub

Couplet- The report, real estate companies and developers reaffirm the strength of the real estate sector in Qatar, its potential to continue growth and support the local economy, enhancing the country's position as a regional business hub and marking a new beginning towards the future. We do. of the “Qatar 2030” vision.

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Mordor Intelligence Platform reported that the size of the commercial real estate market in Qatar reached $15.62 billion in 2023, which is expected to reach $22.5 billion by 2028 with a compound annual growth rate of 7.6%.

According to the same source, the size of the residential sector is expected to reach $4.3 billion in the year 2023, and the sector is expected to register a compound growth of over 6.2% during the period 2024-2029.

As far as Al Asmakh Company's report is concerned, it indicated that during the last three years the country saw the opening of 500,000 square meters of commercial space represented on commercial complexes and streets, stating that in infrastructure projects Large amounts of government investment provided major and critical support. For real estate sector.

Real estate trading volume in sales contracts last December stood at about 1.5 billion riyals, at a time when Qatar aims to reach an annual trading volume of 100 billion riyals ($27.4 billion).

A general view taken on July 2, 2017 shows a corner of Doha, the capital of Qatar.  / AFP Photo / STR (Photo credits should read STR/AFP/Getty Images)
Real estate trading volume in Qatar reached 1.5 billion riyals last December (Getty Images)

government support

Real estate expert sees andChairman of the Board of Directors of Kate Real Estate Company Abdul Rahman Al-Najjar said that the continued implementation of state projects is one of the main factors driving the growth of the real estate sector, adding that many government institutions are expected to implement projects worth more than 70 billion riyals during the current year. Reflects intention.

Al-Najjar told Al Jazeera Net that these and other projects – in addition to developing the real estate sector – attract foreign investment.

On his part, he said: Real Estate Experts and Appraisers “The real estate sector is second only to oil in supporting GDP,” Khalifa Al-Muslimani said.

He said – in an interview with Al Jazeera Net – that according to his opinion, the real estate sector achieves good returns for investors, and enables them to achieve good profits and returns without risk.

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The value of business of real estate companies listed on the stock exchange exceeded 8.4 billion riyals during the last year (Shutterstock)

In turn, Mohammed Al Nuaimi, Chairman of the Board of Directors of iCloud Trading and Contracting Company, said: Projects implemented by Qatar –Keeping in mind its long-term vision for the year 2030, it offers opportunities for improvement in the real estate market of the country.

Al-Naimi, in a statement to Al-Jazeera Net, expressed hope that the size of the construction market in the country will exceed $57 billion during the current year.

related to Financial analyst Tamer Hassan believes that the good performance of real estate companies listed on the local stock exchange reflects the strength of the real estate sector in Qatar.

Amid keen interest from the stock exchange, Qatar Stock Exchange currently lists 4 companies operating in the real estate sector Attracting and listing more new real estate companies.

The value of trading of real estate companies listed on the Qatari Stock Exchange during the last year was more than 8.4 billion riyals.

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