Realty Continues To Be Driving Force Behind Qatar's“Robust And Resilient” Economy: Omar Alfardan

(MENAFN- Gulf Times) The real estate sector continues to be driving force behind Qatar's robust and resilient economy, according to a top official of Alfardan Properties, a leading lifestyle developer in Qatar and the region.
"With a continuous commitment to developing a robust and resilient economy in Qatar, the real estate sector continues to be driving force in this regard," Alfardan Properties president and chief executive officer Oman Hussain Alfardan told the first Qatar Real Estate Forum, organised by the Ministry of Municipality.
Participating in a key session yesterday to discuss his real estate journey, successes, and the factors that have contributed to the growth of the industry in Qatar; he provided valuable insights into the challenges and opportunities that have shaped the real estate monetary landscape in Qatar.
Advising that investment in the real estate has to be viewed with a long term, he said one has to look at the expected interest rate movement in the next five years rather than factoring in the present levels.
On the funding mechanism of one of its prestigious projects, Alfardan told the moderator Ammar Taqi from the Kuwaiti AlQabas Foundation, that the traditional methods proved unsuccessful; hence it relied on a strategy of 20% from its capital, 30% from sales and the remaining 50% from banks.
"As a leading luxury developer in the industry, we recognise the importance of collaboration and knowledge sharing to drive innovation and progress. We are committed to contributing our efforts to shaping the future of real estate in Qatar," he said.
These are exciting times for the property sector in Qatar and across the Gulf Cooperation Council, and it is focused on remaining ahead of the curve to deliver on the promise of creating an unmatched luxury lifestyle, according to him. Alfardan Properties' portfolio includes properties in Oman and Turkey.
"Qatar should move from building and development to investments (in the real estate sector) both inside the country and outside," he said.
As a premier real estate developer committed to excellence, innovation, and sustainability, Alfardan Properties, which is the Gold sponsor for the event, recognises the importance of industry collaboration and knowledge sharing.
The company firmly believes in actively contributing to the advancement and growth of the real estate sector in Qatar.
The Qatar Real Estate Forum serves as a pivotal platform that brings together industry experts, government officials, investors, and key stakeholders to discuss and address critical issues shaping the real estate landscape in Qatar and beyond.
This year's forum focused on the theme of "Regulations and Legislations for an Optimal Quality of Life and a Sustainable Real Estate Industry.'
The event offers an unparalleled opportunity to explore emerging trends, gain insights into the latest technological advancements, and establish valuable connections within the industry. With a focus on sustainable development and innovation, this event will play a crucial role in fostering a vibrant and resilient real estate sector in Qatar.
The first edition of the forum in Qatar saw the participation of a number of ministers, companies in the real estate sector in Qatar and key personalities from Doha and the region.


Gulf Times

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