Doha, Qatar: Qatar’s retail real estate sector remained steady during the first three months of the year, providing an increase in supply, according to commercial realty agency - Cushman and Wakefield’s report. This static growth comes as a result of ongoing expansions in the market across Qatar. Lulu Group International, one of the key players in the region, opened several stores in Q1 2024. The report outlined that numerous units are “being fitted out”. At the same time, it is anticipated that outlets including Doha Mall will open their doors to the public in 2024, adding close to 100,000 sq m of retail floor space to the market, which is expected to represent the largest mall in South-West Doha. It said: “The opening of Doha Mall will see Qatar’s…

Doha, Qatar: The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice during the period from June 2 to 6, 2024 reached QR371,311,423, while the total sales contracts for residential units in the Real Estate Bulletin during the same period reached QR31,123,000.   The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale included vacant lands, houses, a building complex and residential units. Sales were concentrated in the municipalities of Al Rayyan, Doha, Al Daayen, Al Wakrah, Umm Salal, Al Khor, Al Dakhira, and the areas of The Pearl Island, Legtaifiya and Al Kharaej. The volume of real estate trading in sales contracts registered in the Real Estate Registration…

Doha, Qatar: Qatar’s real estate sector has witnessed surge as the number of properties sold increased in April this year. The total number of properties sold totalled 201 in the country in April 2024 registering a yearly increase of 28 percent. On yearly basis of the total number of sold properties by municipality, Al Rayyan constituted 49 properties showing a rise of 11 percent on year on year basis, followed by Al Wakra 45(309 percent), Umm Slal 22 (29.4 percent), Al Shamal 8 (700 percent), Al Khor and Thakhira 10.5 (110 percent) in April 2024.While Doha, Al Daayen, and Al Sheehaniya municipalities saw decline on yearly basis, according to figures released by the National Planning Council. The country saw a total of QR811.6m worth of properties sold in April 2024. The real…

Doha, Qatar: The rents of marts across the country witnessed a subtle decrease during the first three months of the year, having returned to the same price range during the third quarter of 2023, noted market experts from Qatar’s e-realty platform, hapondo.   However, the average asking rents climbed up during the fourth quarter of 2023 in many of Qatar’s retail areas. Researchers state that the majority of the retail shops noticed a decline from QR214 per sqm to QR 182 per sqm from January to March 2024. According to analysts, key commercial localities such as Al Sadd, witnessed a fall in the average rent for two consecutive quarters and amounted to QR157/sqm in Q1. The Peninsula spoke to a number of shopkeepers to understand how the rental decline would impact the…

Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani chaired the Cabinet's regular meeting held at its seat at the Amiri Diwan on Wednesday morning.     After the meeting, HE Minister of Justice and Minister of State for Cabinet Affairs Ibrahim bin Ali Al Mohannadi issued the following statement:   At the outset of the meeting, the Cabinet extended sincere greetings to HH the Amir Sheikh Tamim bin Hamad Al-Thani on the advent of Eid Al Adha, asking Allah Almighty to return this blessed occasion for His Highness with the best of health and wellness, and for the State of Qatar and its people with further development and prosperity under the wise leadership of HH the Amir, as well as the Arab and Islamic nations with…

Doha, Qatar: A new guideline to clarify rights and duties of landlords and tenants will be issued soon, said a top official.   “In this guide, we explain the legal rights and duties entailed by rental contracts, in addition to the financial rights and duties of the beneficiaries,” said Rosa Al Shammari, Head of the Office of the Rental Dispute Resolution Committees Headquarters at the Ministry of Municipality. Speaking to Qatar TV recently, she said that the guide will simplify further the procedures and cover all clients of the office. Al Shammari said that lease contracts of residential buildings and commercial facilities are on the same pattern as per the provisions of the Decision No. 1 of 2020. To a question about the mechanism for receiving complaints related…

Qatar’s real estate market is poised to benefit in the long-term, driven by several infrastructure projects and developments, expansion of the industry across the country, and investment-friendly initiatives implemented by the government.     There has been a significant growth in the value of mortgage transactions across all asset classes, growing by 89 percent on quarter-on-quarter (Q-o-Q) basis and 36.8 percent on year-on-year basis (YoY), according to Real Estate Research First Quarter (Q1) 2024 by ValuStrat, released yesterday.   In the first quarter of 2024, the Qatar real estate market witnessed 236 mortgage transactions across all asset classes of ready properties. The total sales value attributed to mortgage transactions stood at QR16.8bn, an increase of…

The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in April amounted to QR811,561,323.   The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 201 real estate transactions were recorded during the month.   Doha, Al Rayyan, and Al Wakrah municipalities topped the most active transactions in terms of financial value in April, according to the real estate market index, followed by Al Dhaayen, Umm Salal, Al Khor and Al Dhakira, and Al Shamal.   The real estate market index for April revealed that the financial value of Doha municipality’s transactions amounted to QR282,847,223. The financial value of Al Rayyan municipality’s…

Real estate prices in Qatar have dropped to their lowest level in recent years following four consecutive months of decline, according to a new report.     The country’s Real Estate Price Index, compiled by the Qatar Central Bank, stood at 202.43 in April 2024, the lowest since earliest available data in January 2020, data published by the banking authority showed. The index had previously dropped to its lowest in February 2021 at 202.5.   The index, which is based on the figures provided by the Ministry of Justice, also posted a decline for four consecutive months, falling from 225.12 in December 2023 to a little over 202 in April. Given the decline in prices, Qatar-based real estate marketplace hapondo noted that the Qatari real estate market is likely to…

volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice during the period from 28 April to 2 May 2024 reached QR, 247,261,294.   Total sales contracts for residential units in the Real Estate Bulletin for the period from 28 April to 2 May 2024, is QR, 44,144,614.   The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale has included vacant lands, houses, Residential Buildings, Commercial Residential Building and Shops, Residential Units.   Sales were concentrated in, Doha, AL Rayyan, Al Daayen, Al Wakrah, Umm Slal, Al Khor and Al Dakhira, Al Shamal, municipalities, and in the Pearl Island, Al Dafna 60, Lusail 69, Legtaifiya, Zones.  

Doha, Qatar: Ezdan Real Estate announced the opening and lease of second phase at Al Janoub Gardens Residence, yesterday. Following the complete leasing of all 880 units in its first phase, the company has launched the second phase of Al Janoub Gardens Residence project, which comprises approximately 775 residential units of varying sizes.   Addressing a press conference, Deputy CEO of Ezdan Holding Group, Hani Dabash highlighted the overwhelming demand and popularity the project has received, particularly for its modern amenities and lifestyle offerings, including a central garden featuring children’s play areas and lush greenery, which facilitated the rapid lease-up of the first phase.   Al Janoub Gardens Residence is among the company’s key developments,…

Doha, Qatar: The new real estate registration law has been issued to keep pace with latest developments and use information technology in providing services, said a top official.   “The Law No. (5) of 2024 for regulating real estate registration stipulates that the Real Estate Registration Department can provide its services completely electronically,” said Director of the Real Estate Registration Department at the Ministry of Justice Amer Al Ghaferi.   Speaking to Qatar TV recently, he said that it will ease the services provided by the Department to citizens, expatriates and the entire real estate sector.   “Now we are providing services through SAK application which requires the applicants to visit the headquarters of the Ministry of Justice for…