Qatar Offers Promising Investment Opportunities
(MENAFN- The Peninsula)
Deepak John
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The Peninsula
Doha, Qatar: The Real estate sector of Qatar offers huge opportunities for residents and investors alike as the country has a promising market.
Qatar's real estate sector is among the most promising and attractive in the Gulf region, with significant potential, especially in Lusail City. As the second-largest city in Qatar after Doha and considered the economic capital of Qatar, Lusail also boasts one of the most promising entertainment sectors, said Property Finder (a leading real estate platform in MENA) 2023 Residential Real Estate annual report.
Lusail at Al Daayen municipality accounted for the majority of real estate investments, representing approximately 41.4 percent of the total investment in last year. This amounted to about 51 projects worth $5.4bn. All investments in Lusail were made by private companies. Meanwhile, Pearl Qatar at Doha municipality witnessed the development of 19 ongoing projects, which constituted almost 17.6 percent of the total ongoing projects and 19 percent of the private projects.
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Also in last year, Al Doha ranked second in terms of the number of projects, with 36 ongoing projects valued at $1.9bn. Despite being the capital of Qatar and potentially the most important municipality, Al Doha experienced a relative decrease in new real estate project investments, possibly due to the intense development it underwent in recent years leading up to the World Cup.
The report further said, the residential and mixed-use real estate sectors recorded a total of 157 ongoing projects worth $19.1bn. These projects accounted for approximately 61.7 percent of the total number of projects and 61.8 percent of the total investments
The market was dominated by private sector development, contributing to 92.6 percent of the total number of ongoing projects till the end of 2023 and almost 84.5 percent of the total investments worth $11bn in ongoing projects until the end of 2023.
In the private sector, Al Daayen, Al Rayyan and Al Doha accounted for 85 percent of the total investment. On the other hand, Al Shamal contributed to almost 22 percent of the total governmental investment in governmental development. Al Daayen alone contributed to almost 49.6 percent of the total governmental investment in governmental development, while Ras Laffan at Al Khor has the highest number of governmental projects with a total of four projects.
The real estate activities and construction sectors together have grown by 3.4 percent in 2023 accounting for QR132.4bn. They contributed to almost 19 percent of Qatar's GDP.
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