(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha: The Industrial Production index reached 103.6 points in Q3 2024, according to a report by ValuStrat, as market experts indicate a significant 7.8 percent increase compared to Q2 2024.
However, the National Planning Council in its report earlier noted that the IPI sector dropped by 1.5 percent annually.
Among others, the foreign merchandise trade surplus amounted to QR17.7bn, a reduction of 10.7 percent Y-o-Y.
Qatar Salt Products Company (QSalt), a new joint venture, will develop a $275m (QR1.5bn) salt production facility in Um Al-Houl with a capacity of 1 million tonnes per year.
Recently, Qatar Energy signed a 20-year agreement with Shell International Eastern Trading to deliver up to 18 million tonnes of a specific crude oil derivative, which is expected to begin in April 2025.
On the other hand, Qatar Maritime reported 249 vessel callings in September at Hamad, Doha, and Ruwais ports, recording a drop of 6 percent Y-o-Y.
The report notes that the total number of containers handled by all three ports during the first nine months was 1.09 million Twenty-foot Equivalent Units (TEUs).
However, The monthly median asking rent for ambient warehouses remained constant during the third quarter of the year at QR36.9 per sq m, signaling a 5.7 percent decline per annum.
In the meantime, the monthly median rent for cold storage facilities surged by 2 percent Y-o-Y while staying constant in Q3 2024, amounting to QR43.2 per sq m.
Industry experts mention that the Industrial Area in the country witnessed around a 5 percent decline in dry warehouse rents YoY, alongside a 3 percent increase in temperature-controlled unit rates.
The Head of Research in Qatar at ValuStrat, Anum Hassan, stated“In the industrial sector, rental rates were stable quarterly, while temperature-controlled spaces saw a 2 percent improvement compared to the same period last year.”
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