Real estate transactions in Qatar reach USD2.23B in H1 2024
(MENAFN) Khalid bin Ahmad Al Obaidli, President of the Real estate Regulatory Authority (Aqarat), reported that real estate transactions in Qatar reached QR 8.16 billion (USD2.23 billion) during the first half of 2024, showcasing the sector's increasing strength and appeal. Speaking at a press conference, Al Obaidli highlighted that 2024 has seen unprecedented growth in the real estate sector, attributed to several factors including a budget surplus of QR 2.6 billion in Q2 2024, a 1.2 percent year-on-year increase in Q3 2023, and a 4 percent increase compared to Q2 of the previous year.
Al Obaidli noted that Qatar's top ranking in the Global Peace Index (GPI) 2023 for the fifth consecutive year also played a role in bolstering real estate transactions. He emphasized that maintaining this positive momentum is crucial for the sector, which is a vital component of the country’s economic development. Aqarat aims to further stimulate the real estate market by promoting innovation and attracting investment, setting the groundwork for a sustainable and prosperous future.
The Aqarat President underscored the Authority's commitment to regulating the sector with precision and adhering to the highest standards of governance. He highlighted that Aqarat’s regulations are designed to protect all stakeholders' interests while fostering long-term sustainable growth. The Authority’s vision focuses on ensuring transparency and integrity in all transactions, reinforcing its role in supporting the sector's continued expansion.
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