Qatar - Real estate deals worth QR1.64bn signed in October| MENAFN.COM

Wednesday, 26 January 2022 04:58 GMT

Qatar - Real estate deals worth QR1.64bn signed in October


(MENAFN- The Peninsula) Doha: Qatar's real estate sector remained abuzz with deal-making during October this year and maintaining strong growth momentum despite the challenging situation created by coronavirus pandemic. The realty sector witnessed deals worth QR1.64bn during in 428 transactions during October this year, according to Ministry of Justice data. 

In terms volume of real estate deals, Doha Municipality clinched the top spot as it witnessed transactions worth QR617.4m during last month, which was the highest figures among the municipality across the country. Doha Municipality witnessed total 108 real estate transactions during the month.

However, in terms of number of real estate transactions, Al Rayyan Municipality came at the top as total 120 real estate deals were struck during October. The value of deals signed in the municipality reached QR386.78m during the month. 

Al Dhaayen Municipality came third in terms of volume of real estate deals as transactions worth QR232.62 were registered during the month. Umm Slal Municipality witnessed deals worth QR136m in 40 transactions during October. 

Al Wakrah Municipality, which is buzzing with several infrastructure works, witnessed deals worth QR221m in total 52 transactions during October.

The Public Works Authority (Ashghal), earlier this month, announced to commence works on the Roads and Infrastructure Project in West Al Meshaf, Package 9 which aims to develop internal streets in the area and improve traffic safety, as well as upgrade infrastructure facilities to respond to needs of residents and future growth. The Roads and Infrastructure in West Al Meshaf Project, Package 9 is being implemented by Al Darwish Engineering, at a cost of QR 558.4m.

Of the top 10 most expensive properties sold during the month, five were in Doha Municipality while two were in Al Wakrah Municipality.

Qatar's real estate market has maintained a positive trend throughout this year. In September, real estate deals worth QR3bn were signed while in August deals worth QR1.75bn were signed, according to the figures released by the Ministry of Justice. Properties worth QR1.75bn were sold during July while deals worth QR2bn were signed in June. The real estate sector witnessed deals worth over QR1.99bn in April compared to QR2.57bn in March. In February this year, real estate transactions worth QR1.77bn were registered.

 

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