Sunday, April 21, 2024
Today's News
Sunday, April 21, 2024
Today's News

Promising prospects for Qatar’s real estate sector: CEOs

Promising prospects for Qatar's real estate sector: CEOs

Qatar’s realty industry offers appealing investment opportunities in real estate and also retail trade suitable with all demands and also budget plans: authorities

Doha: President Officers of several Qatari real estate companies as well as study experts verified the appealing elements for the real estate industry in the nation because of the toughness of the Qatari economic situation, the wide extent of building and construction operations happening in all areas, as well as the conclusion of several financial diversity strategies within Qatar National Vision 2030, which makes it one of the fastest growing industries, and the 2nd after the energy industry.

In unique interviews with Qatar News Agency (QNA), the specialists mentioned that these promising leads for the industry are driven by the high domestic liquidity as well as substantial investing recently on facilities and transport tasks, the surge in the state’s gross domestic product (3.4 percent this year), as well as the enhancing number of tourists, which will certainly lead to a favorable influence on the different indications of the industry’s performance in the coming years.

QNA’s interviews with these figures in the marketplace shed light on the performance of the property field during the existing duration, and expectations concerning the return on real estate investment throughout the present year, in addition to the feedback of regional financial institutions to provide financial facilities to real estate companies, in addition to whether there is a need for mergers out there, such as those observed in the regional banking market, to develop major real estate entities that can contend in your area and internationally.

Chief Executive Officer of Qatari Diar Eng. Abdullah bin Hamad Al Attiyah informed QNA in a special declaration that the realty market in Qatar experienced a state of healing with the organizing of the FIFA World Cup Qatar 2022, as well as this healing was gone along with by a rise in rental rates and occupancy prices, showing that the State of Qatar aims to bring in 5.6 million visitors in 2023 – twice the number it got in 2016.

Qatar also aims to achieve occupancy rates of 70 percent in resort facility by enhancing need and also branching out tourist tasks in the coming period, he added, keeping in mind that if this number is achieved, the beauty of the Qatari real estate sector will increase in the medium and long-term.

Al Attiyah explained that the features of recovery were shown in the city of Lusail, which is one of one of the most significant real estate projects of Qatari Diar. Individuals witnessed the opening of numerous new projects in the city, including Lusail Plaza Towers (Al-Sa’ advertisement Plaza), Lusail Boulevard (Darb Lusail), Al-Saif Towers as well as Lusail Arena, along with many new resorts as well as tourist centers, he included.

He likewise noted that tenancy prices have reached 100 percent in several of these jobs, which reflects the solid demand for contemporary and qualitative jobs in Qatar that rely on top quality and sustainability.

In relation to current realty financial investment returns as well as assumption for the remainder of the year 2023, Eng. Al Attiyah claimed that the realty market is taken into consideration among the vital industries that are currently offering excellent returns to capitalists in the marketplace and also obtains a large share in economic task, as financiers in this crucial industry look for to achieve permanent profits as well as returns with the least threats. Realty investments accomplish a rate of 7 percent to 9 percent, as a roi, according to the type of realty financial investment, the place, and the age of the residential property, he added.

Al Attiyah suggested that 2023 is a tough year for the real estate field, because of the increase in bank rate of interest globally, as the realty industry depends mostly on bank financing, pointing out that this difficulty is anticipated to be short-term for an optimum of 2 years until the existing rising cost of living relapses, and also this applies to the worldwide real estate market and also not only to the State of Qatar.

Regarding possibilities for expansion as well as development in the regional property market, he stated that the state took into account the issues concerning the realty scene after the 2022 Globe Cup – signing long-term contracts with real estate proprietors in order to maintain the stability of the property market after the World Cup. Along with that, the state is making unremitting initiatives to manage as well as enhance the property field as well as sustain the continuity of recuperation through legislative modifications that made it easier for international investors to stay as well as own freehold residential property in the State of Qatar, he included.

He noted that the Financial investment Promotion Agency of Qatar (IPA Qatar) clarified the real estate field as one of the markets anticipated to draw in international direct financial investment during the post-World Mug period, in accordance with the lasting objectives of city development, financial diversification as well as boosting the attractiveness of Qatar as an economic center, describing that this will absolutely create chances for expansion as well as growth in the realty pen in the medium and also long-term.

In relation to the requirement for mergings in the real estate market in the country, such as those observed in the neighborhood financial market, to create major real estate entities that can contend in your area and also worldwide, Al Attiyah explained that the combining of property entities will certainly improve its regional setting, as the merger will match the diverse experiences, boost the effectiveness of the inceptive entity, and improve its capacity to compete in the regional and foreign markets – getting bigger shares in the realty market.

For his component, United Advancement Business (UDC) President, Chief Executive Officer as well as Participant of the Board Ibrahim Jassim Al Othman claimed, in an exclusive statement to QNA, that Qatar’s real estate industry offers eye-catching investment chances in real estate as well as retail trade suitable with all needs and also spending plans, particularly after the issuance of Regulation No. (16) of 2018 on the Guideline of Non-Qataris’ Possession as well as Use of Real Estate, which added to the prosperity of the Qatari real estate
market, drawing in foreign financiers, as well as giving them the advantages of Qatari residency in a secure and also tax-free atmosphere.

Last Updated: 12 April 2023

Culture & Life Style
Eid-Ul-Fitr 2024: 30 Best SMS, Eid WhatsApp messages, quotes, wishes, Facebook status to wish Eid Mubarak to loved ones
08 Apr 2024
Eid-Ul-Fitr 2024: 30 Best SMS, Eid WhatsApp messages, quotes, wishes, Facebook status to wish Eid Mubarak to loved ones
Eid-Ul-Fitr 2024: 30 Best SMS, Eid WhatsApp messages, quotes, wishes, Facebook status Eid-ul-Fitr, the joyous occasion marking the end of Ramadan, is around the corner. As Muslims worldwide prepare to…
READ MORE
Ramadan Kareem 2024: Follow These Seven Steps to Remain Healthy During the Holy Month
Ramadan Kareem 2024: Follow These Seven Steps to Remain Healthy During the Holy Month
Ramadan Kareem 2024: Follow These Seven Steps to Remain Healthy…
READ MORE
Free eSIM Activation in UAE: Step-by-Step Guide for du and Etisalat by e& Users
Free eSIM Activation in UAE: Step-by-Step Guide for du and Etisalat by e& Users
Mobile users in the United Arab Emirates (UAE), both du…
READ MORE
Building a Strong Immune System: Your Key to Optimal Health
Building a Strong Immune System: Your Key to Optimal Health
In a world filled with various health concerns and challenges,…
READ MORE
Entertainment
Saudi Lawyer Wins $1 Million in Dubai Duty Free Draw
Saudi Lawyer Wins $1 Million in Dubai Duty Free Draw
Jawaher Alamoudi, a 30-year-old lawyer from Saudi Arabia, is celebrating after winning $1 million in…
Koffee With Karan: Navigating Predictability in Bollywood’s Talk Show Landscape
Koffee With Karan: Navigating Predictability in Bollywood’s Talk Show Landscape
Once known for its edginess and buzz, Koffee With Karan appears to be veering towards…
Punjabi Pop Triumph: Ali Sethi’s Mesmerizing Night at Dubai Opera
Punjabi Pop Triumph: Ali Sethi’s Mesmerizing Night at Dubai Opera
On the illustrious night of November 11, the vibrant echoes of Punjabi pop resonated through…
Exploring Culinary Excellence: The Best Top 10 Restaurants in Riyadh
Exploring Culinary Excellence: The Best Top 10 Restaurants in Riyadh
Riyadh, the capital city of Saudi Arabia, is a thriving metropolis with a rich cultural…
Christina Karam hits winning note with songs for Egypt
Christina Karam hits winning note with songs for Egypt
Increasing celebrity uses music to advertise country's appeal in 'Egypt Deserves' project A rising star…
Miss World: A brief history, including controversies, criteria and famous winners
Miss World: A brief history, including controversies, criteria and famous winners
The contest, established in 1951, is the longest-running worldwide charm contest Model from around the…
Rihanna dons custom Alaia coat for Super Bowl performance, reveals pregnancy
Rihanna dons custom Alaia coat for Super Bowl performance, reveals pregnancy
Pop as well as R&B super star Rihanna made a grand go back to the…
Georgina Rodriguez is the new face of Italian luxury label Elisabetta Franchi
Georgina Rodriguez is the new face of Italian luxury label Elisabetta Franchi
DUBAI: Argentine version Georgina Rodriguez, who now stays in Saudi Arabia, is the new worldwide…
‘Paper Planes’ rapper M.I.A. joins Wireless Abu Dhabi line-up
‘Paper Planes’ rapper M.I.A. joins Wireless Abu Dhabi line-up
British rap artist M.I.A. is the most recent enhancement to the line-up set to descend…
1309 Studios founder Ghada Al-Subaey talks Arab representation, dressing Georgina Rodriguez
1309 Studios founder Ghada Al-Subaey talks Arab representation, dressing Georgina Rodriguez
Qatar-based ready-to-wear label 1309 Studios, started by business owner Ghada Al-Subaey, has actually been garnering…
Country
Mauritania
Mauritania News
UAE
UAE News
Egypt
Egypt News
Oman
Oman News
South Arabia
South Arabia News
Jordan
Jordan News
Qatar
Qatar News
Kuwait
Kuwait News
Bahrain
Bahrain News
Iran
Iran News