(MENAFN- The Peninsula) By Mohammad Shoeb / The Peninsula
Qatar's real estate sector witnessed a record jump in terms of the value of transactions during the third week of November.
The combined value of real estate deals reached QR472.3m during the week (November 19 to 23), witnessing a remarkable growth of over 200 percent compared to QR157m registered during the previous week, according to Ezdan Holding Group's latest weekly report.
The significant jump in the weekly transactions value was attributed to the execution of an exceptional deal worth QR114m for the sale of a land plot (16,645 square metres) in Gharafa area at the rate of QR6,859 per square metres.
The Ezdan report said that during the week 74 transactions were executed, up 40 percent compared to 53 deals registered in the previous week.
The deals for prefabricated buildings dominated the week's transactions with 45 transactions accounting for 57.4 percent of the total deals.
The combined value of total deals for prefabricated buildings reached at QR271.1m during the week.
While the transactions for land plots occupied 42.6 percent of the total transactions with a value of QR201.2m from the implementation of 29 transactions, Ezdan report said citing official data from the Department of Real Estate Registration at the Ministry of Justice.
Al Rayyan Municipality topped in terms of the value of real estate transactions at QR194.2m from 18 transactions, acquiring 41.1 percent of the total deals during the week.
The Doha Municipality came second with a value of QR159.2m, a record high of 312 percent as a result of the execution of 18 transactions. Doha accounted for 33.7 percent of the total transactions during the week.
The value of the highest deal in the Doha Municipality was QR26m for the sale of a residential building in Baraha Juffairi locality with an area of ,1020 square metres, coming out to be QR25,500 per square metre.
It also witnessed the sale of a house in the new authority (4,055 square metres at a price of QR25m.
The land accounted for 11.4 percent of Doha's dealings worth QR18.1m, while ready-to-move properties accounted for 88.6 percent of total transactions, with a value of QR141.1m
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