(MENAFN- The Peninsula)
The Peninsula
Doha: Qatar's real estate experts have given a 'healthy' prognosis on the sector's prospects in the run-up to Cityscape Qatar, the country's most prestigious and influential real estate investment, development, and networking event, which will run at the Doha Exhibition and Convention Center (DECC) from October 17-19.
The conference will open with a keynote address on government perspectives of the sector before the stage is handed over to experts who will examine a wide range of key sector issues from green buildings, to key investment areas, from digital transformation, AI and robotics in real estate to Qatar's emerging eco-tourism and smart cities programmes.
Sheikh Nasser bin Abdulaziz Al Thani, Head of Business Development at Qetaifan Projects will outline how Qatar's new flagship Qetaifan Island North is attracting investors.
Ahead of the conference, which runs alongside the Cityscape Qatar exhibition, several speakers confirm they are sensing optimistic market sentiment for the residential, hospitality and industrial segments.
Speaking in advance of delivering his Qatar market overview, Johnny Archer, Head of Consulting and Research Director, at real estate advisory Cushman & Wakefield commented:“Qatar's market is healthy but needs to deal with oversupply in the short term which has been brought about by an accelerated development programme for 2022”.
The“accelerated development programme” was to accommodate an expected influx of people visiting Qatar during the FIFA World Cup 2022 and an anticipated upswing in follow-on tourism and investment sparked by worldwide exposure of the country.
And just how Qatar's hospitality market will be impacted by the global tournament in a post-pandemic world will be explored by Anum Hasan, Market Research Manager of real estate appraiser ValuStrat.
“We will be highlighting major factors which might impact the hospitality market of Qatar in light of the pandemic and World Cup 2022 from a range of perspectives covering domestic tourism, cruise, business versus leisure, the hosting of global events and regional tourism. We would like delegates to be more aware of the hospitality market and understand the key factors driving it in the past and the future,” she explained.
Hasan added:“The pandemic dampened the growth we were expecting pre-World Cup during 2020-2021 for all sectors. While we did see some recovery in the performance of industrial, residential, and retail during H1 2021, the Qatar government played a major role in the rebound by providing a buffer against major challenges including an economic stimulus package, hotels mandated for use as quarantine centres, providing Eskan leases to absorb some residential oversupply, strengthening the ports, the timely administration of population vaccinations, the adoption of safety and cleanliness protocols and political easing of regional restrictions".
“We expect the same response post 2022 with the government providing a cushion against a temporary drop in fundamentals across all real estate sectors”.
Delegates will also hear how architects, engineers and urban planners will rethink their development approach following the pandemic to meet redefined investor criteria. Day 2 of the conference will be dedicated to architecture, sustainability and the built environment.
Anurag Gupta, Director and Head of Strategy and Real Estate Advisory at KPMG Qatar, believes the property market will continue to improve in the next three to five years. He said:“I think the worst is behind us, and some of the key asset classes in real estate market has seen fundamental correction in the last few years allowing Qatar to become more competitive. Further, this will help in attracting investments in both the real estate and non-real estate sectors. I believe that in the next five years, Qatar will continue to witness growth in private business, tourism - mainly in sports – as well as logistics, manufacturing, and technology. These will help in higher household population which will, in turn, make Qatar real estate highly attractive”.
Other experts due on the Cityscape Qatar's speaker platform include: Samvit Kanoria, Partner at McKinsey & Company and Dr. Alexandre Amato, Head of Sustainability at Qatar Green Building Council.
“It's been a busy time for Qatar's real estate, which is realising the impact of the Al Ula Declaration on normalisation of regional relations, the impending FIFA World Cup 2022 and Asian Cups 2030, and the completion of Lusail – the country's new waterfront city – and a re-emergence from the disruption caused by the pandemic,” explained Chris Speller, Group Director of Cityscape at Informa Markets. Cityscape Qatar is supported by Platinum Sponsors Barwa and Qetaifan Projects and Gold Sponsor Alternative Line Real Estate.
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