Doha, Qatar: The volume of mortgage transactions achieved during the third quarter (Q3) of this year reached 351 transactions with a total amount of QR10.802bn. Doha Municipality registered the highest number of mortgage transactions with 190 (equivalent to 54.1 percent) of the total number of mortgaged properties, followed by Al Rayyan Municipality with 84 transactions (equivalent to 23.9 percent). Then Umm Slal Municipality with 26 transactions (equivalent to 7.5 percent) of the total number of mortgaged properties, according to data by Ministry of Justice. Regarding the value of mortgages in Q3, 2024, Doha Municipality comes first with amount of QR8.763bn while Al Shamal Municipality registered the lowest value which reached QR2.160m. Considering the indicator of movement of…

Doha: The real estate sector continues to drive Qatar’s economy as the compound annual growth rate (CAGR) is estimated to grow by 1.96 percent in the years ahead. According to a report by Statista, the market is anticipated to amount to a value of $446.60bn by the year-end. In terms of the residential and housing sector, the market dominates with an estimated market volume of $237.80bn in the same year. Several realty experts noted that the demand will surge in 2025 and will further accelerate the GDP growth. Analysts have highlighted that the rental rates have increased during the previous quarter across several prime localities. Among the research platforms in Qatar, hapondo recently stated that the average rent for a one-bedroom listed in the key and emerging residential…

Doha: The average asking rent for residential apartments indicates a significant upsurge in key neighborhoods across Qatar in Q3 2024, according to the online realty research platform - hapondo. The prime apartment markets continued to observe a spike in rents from July to September, the online marketplace said. As per the analysts at hapondo, the average rent for a one-bedroom listed in the West Bay area surged by over 7 percent to QR9,760 per month and by 4.5 percent to QR7,980 per month in Lusail’s Marina District. Meanwhile, in the two-bedroom apartment category, both West Bay and Marina have witnessed considerable increases in rental rates on a quarterly basis. On the other hand, market experts note that the rents in The Pearl Qatar have remained steady at QR8,490 per month…

Doha, Qatar: With an emphasis on redefining the concept of smart cities, Msheireb Downtown Doha seeks to change how people experience city life.   By relocating essential services underground — creating what Faisal AlMalki, COO of Msheireb Properties describes as ‘City under the City’ — this development not only enhances the aesthetic and functional quality of the urban landscape but also promotes sustainability and community engagement.   In an interview with The Peninsula AlMalki shares insights into the project’s evolution, its smart technologies, and how it aligns with global trends in urban development, positioning Msheireb Downtown Doha as a pioneering model for future cities.   “Our vision is to change the way that people…

Qatar: UDC elevates luxury living standards with Crystal Residence at Cityscape The United Development Company (UDC), the master developer of The Pearl Island and Gewan Island, is showcasing its most anticipated project, Crystal Residence, as the centrepiece of its participation in Cityscape.   Situated at the heart of Gewan Island, Crystal Residence exemplifies luxury, lifestyle, and sustainability, and stands as one of the most significant additions to UDC's growing portfolio of premium developments.   Crystal Residence offers a unique blend of opulence and modern convenience. Designed to cater to the discerning needs of its residents, the development includes a variety of luxurious units ranging from one to three-bedroom apartments and spacious four-bedroom duplexes. The…

Doha, Qatar: Qatar’s real estate market has continued to witness growth during the third quarter (Q3) of this year as it saw deals worth QR3.351bn for 798 real estate transactions in Q3 of 2024. In the third quarter of last year the real estate index achieved total value of QR3.597bn for 855 real estate transactions. The real estate transactions achieved the highest levels during September 2024 with a total value of QR1.419bn. While August 2024, registered a total value of QR827.058m and July of this year recorded QR1.105bn realty transactions. The real estate market index for Q3, 2024 revealed that Doha Municipality, Al Rayyan Municipality and Al Dhaayen Municipality consecutively are the most active in terms of financial value. The financial values of Doha Municipality totaled…

Doha: Alijarah Holding Company announced the expansion of its new property project - ‘Al-Rawdah’ in the Saudi market, yesterday. Signing an agreement worth QR55m with Arch. Radhwan Jamal Aldeen Babili company for Architectural Contracting, the collaboration aims to foster the design and enhancement of residential villas, externally and internally. The deal was signed and attended by the Chief Executive Officer of Alijarah Holding and its subsidiaries, Hamad Al Jamali and Arch. Radhwan Jamal Aldeen Babili, along with their respective teams. Speaking to The Peninsula on the sidelines of the partnership event, Hamad Al Jamali, Chief Executive Officer of Alijarah Holding said: “We bought land in Jeddah with over 5000 sq m. Our project is to build almost 10 luxury houses…

  The Gulf Co-operation Council (GCC) nationals and GCC-based expats are prepared to spend as much as $538mn on Doha’s residential market, according to global property consultancy Knight Frank’s second annual Destination Qatar report. This is based on its survey of 253 GCC nationals and 249 GCC-based expats, each with a minimum monthly income of $5,000, said Knight Frank, a London-based leading independent global property consultancy. “The principal reason GCC nationals and GCC-based expats would like to own residential property in Qatar is purely for capital gains, while the second biggest motivation is for a buy-to-let property," said Adam Stewart, Partner – Head of Qatar, Knight Frank. Overall, the survey uncovered a potential pool of $537.5mn of…

Doha, Qatar: The volume of mortgage transactions registered during August of this year reached 86 transactions with a total amount of QR1.671bn.   Doha Municipality registered the highest number of mortgage transactions with 36 (equivalent to 41.9 percent) of the total number of mortgaged properties, followed by Al Rayyan Municipality with 25 transactions (equivalent to 29.1 percent).   Then Al Dhaayen Municipality with nine transactions (equivalent to 10.5 percent) of the total number of mortgaged properties, according to data by Ministry of Justice. Regarding the value of mortgages in August 2024, Doha Municipality came first with amount of QR1.418bn while Al Shamal Municipality registered the lowest value which reached QR2.160m.   Considering the indicator of…

Qatar’s office market continues to witness a hike in demand with expansion projects across the country. However, the rents for office rooms during the second quarter of 2024 remained constant, according to a report released yesterday by ValuStrat.   Anum Hassan, Head of Research, Qatar commented “Office sector rents remained stable throughout the period. Whilst, street retail and shopping centers in Doha saw a quarterly decline of 5 percent and 2 percent respectively.”   However, the data indicated an overall decrease of 3.6 percent Y-O-Y in the rents for the office market.   Some of the primary business districts including the West Bay observed a quarterly reduction of 1 percent, while office rents in Grand Hamad Avenue dropped by 3…

Qatar - Leasing trends have created a two-tiered office market in Qatar where demand is focused on an ever-decreasing Grade-A space, while older stock is lying vacant for extended periods with limited new demand, according to Cushman and Wakefield Qatar (CWQ)."Pipeline supply is dominated by Lusail Towers, with three of the four landmark buildings allocated to QNB, the Qatar Investment Authority and the Qatar Central Bank. It is yet unclear as to how much, if any of this office space will be released to the wider market," CWQ said in a report.With occupancy rates climbing across Grade A locations, it said upward pressure on rents is starting to re-emerge for the first time since 2015.While the majority of Grade A office space in West Bay and Lusail can be leased for between QR100 and…

The Ministry of Justice, represented by the Real Estate Brokerage Department, has licensed so far 610 real estate brokers to streamline the real estate sector of the country.       The growing number of licensed brokers shows the success of the ministry in curbing the unlicensed brokers and speculations that affect the real estate market reputation.   The list of licensed real estate brokers with their contact number (mobile and e-mail) and licence numbers is shared on the website of the Ministry of Justice, making it easy for buyers and sellers of properties to approach them for their services.   In Doha Municipality, 340 brokers have been licensed, followed by Al Rayan Municipality with 163 licences.   As many as 47 brokers have been licensed in…