(MENAFN- The Peninsula) By Mohammad Shoeb | The Peninsula
Qatar's real estate sector witnessed a moderate growth, both in terms of the value of transactions as well as the number of deals executed, in the first week of December (3-7). The combined value of real estate transactions during the week increased to QR434.8m, up 6.85 percent compared to QR406.9m registered in the previous week, according to Ezdan Holding Group's Weekly Report.
This growth reflects the continued recovery of real estate transactions despite the absence of major exceptional transactions worth more than QR100m.
A total of 75 real estate transactions were executed during the week, registering a 7.14 percent growth against 70 deals inked in the previous week, said Ezdan's latest report citing data from the weekly bulletin issued by the Department of Real Estate Registration at Ministry of Justice. Real estate transactions maintained their positive performance.
Transactions for prefabricated buildings maintained their positive performance with 56 deals, accounting for 89.4 percent of real estate transactions with a total value of QR388.8m, while the transactions for the plots of land accounted for10.6 percent of the total transactions (19 deals) worth QR46m.
Al Rayyan Municipality topped among all municipalities both in terms of the value of transactions and the number of deals executed during the week. The combined value of transactions in the municipality stood at QR179.6m from 19 deals, accounting for 41.3 percent of the total value of transactions for the week. Al Rayyan municipality saw 6 percent surge in the number of transactions during the week compared to the previous week.
The highest deal value during the week was QR89.1m for the sale of a multi-use building located at Abu Hamour area of Al Rayyan Municipality with an area of 6,504 square metres.
Transactions for land plots accounted for 9.8 percent of the total number of deals during the week totalling QR17.5m, while the real estate acquired 90.2 percent of the total transactions with the combined value of QR162.2m.
Doha Municipality came second with a total value of QR165.1m from 18 transactions, accounting for 38 percent of the week's total transaction value.
The value of the highest deal in the Doha municipality was QR55m against the sale of a multi-use building at Al Thumamah area of with the size of 10,819 square metres (sqm).
The plots of land accounted 5.6 percent of Doha Municipality's transactions with a value of QR9.2m, while real estate acquired 94.4 percent of the total transactions with a value of QR155.9m.
Al Dhaayen Municipality ranked third in terms of value of transactions. The combined value of 13 transactions in the municipality stood at QR38.6m, recording a slight decrease of 1 percent compared to the previous week. The number of deals saw a rise of 8.9 percent against the previous week.
The value of the highest deal in Al Dhaayen municipality was QR10m for the sale of a residential property. The land plots accounted for 17.2 percent of the total deals. Transactions for ready-made properties dominated the deals in the municipality with QR32m, accounting for 82.8 percent of the trading value.
Umm Salal Municipality was the fourth most active in terms of value of real estate transactions grabbing 5.5 percent of the total transaction value during the week, with a turnover of QR24.4m from 12 deals, registering a fall of 15 percent compared to the previous week. The value of the highest deal in Umm Salal was QR3.5m against the sale of housing property (600sqm) located in Al Kharaitiyat area. Al Wakra was the fifth-largest in terms of value of real estate deals. The combined value of 7 deals in the municipality stood at QR19m. The highest valued deal was QR3.4m form the sale of a residential building with an area of 600sqm.
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