Qatar's Residential Real Estate Sector Witnesses Massive Surges

(MENAFN) During the period from May 14 to May 18, Qatar recorded transactions worth 343 million riyals in the residential Real estate sector. The majority of these sales operations were concentrated in various regions, including Doha, Al-Rayyan, Al-Daayen, Al-Wakra, Umm Salal, Al-Khor, Al-Thakhira, and Al-Shamal.

Qatar, along with other Gulf countries, is experiencing significant growth in non-oil activities as part of its broader efforts to diversify the Economy away from reliance on oil. In line with this objective, Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani recently announced that Qatar's non-oil sector had grown by 9.9 percent in the fourth quarter of 2022, while oil activities also saw a 4.8 percent rise.

Speaking at the Qatar Economic Forum, Al-Thani emphasized that the country's strategic efforts have resulted in the development of robust financial institutions and the establishment of a business-friendly environment that fosters growth. These initiatives have led to a notable increase in both domestic and foreign investments.

The reported transactions in the residential real estate sector highlight the ongoing economic diversification and growth in Qatar. The country's focus on non-oil sectors is yielding positive results, with the real estate market playing a significant role in attracting investments and stimulating economic activity.

The success of Qatar's initiatives is contributing to the country's transformation into a diversified and sustainable economy, reducing its dependence on oil revenues. As Qatar continues to strengthen its non-oil sectors and attract investments, it positions itself as an attractive destination for businesses and investors looking for opportunities in the region.



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