Weekly Realty Deals Reach Over Qr500m
Date
5/13/2022 4:42:05 AM
(MENAFN- The Peninsula) Sachin Kumar |
The Peninsula
Helped by a mega deal of over QR100m in Al Rayyan Municipality, the total real estate deals in the country during the week (April 24 to 28) reached over QR569, according to the data released by the Ministry of Justice.
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The deal value is substantially higher than the previous week as real estate transactions worth QR207.8m were registered during the period April 17 to 21.
Al Rayyan Municipality came at the top in terms of value of deals, as deals worth QR221 were signed during the week in this municipality. The largest deal of the week was also witnessed in this municipality.
A deal worth QR105m for 'multiple commercial lands' in Muaither zone in Al Rayyan Municipality was signed during the week. This municipality was host to another big deal of QR30m for a vacant land measuring 10,000 square meters in Rawdat Egdaim.
Another major deal of the week was signed in Al Ebb zone in Al Daayen Municipality amounting QR30m for apartment complex.
In terms of number of deals, Doha Municipality ranked on the top as total 46 transactions were signed here.
The deal during this week was the second highest during April. The first week of April saw the highest volume as deals worth QR1bn were signed in the first week (April 3-7). The second week of April witnessed real estate deals worth QR299 were signed.
Qatar's real estate sector has delivered a remarkable performance in the first quarter of the year with total deals reaching near QR5bn.
According to the Ministry of Justice data, the real estate transactions during the first three months of the current year reached QR4.9bn.
The first quarter remained abuzz with deal making activity as total 1,251 transactions were recorded during January, February and March. The average size of real estate deals during the quarter was QR3.9m.
During March, total real estate deals worth QR1.5bn were signed. February witnessed the highest amount of deals as real estate transactions worth QR1.74bn were signed during the month while in January deals worth QR1.66bn were signed. The number of real estate transactions was up by 5 percent in 2021 compared to 5,116 transactions in 2020.
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