DOHA: The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice from June 30 to July 4 reached QR419,378,464, while the total sales contracts for residential units in the Real Estate Bulletin during the same period reached QR31,341,765.   The weekly bulletin issued by the department shows that the list of real estate properties traded for sale included vacant lands, houses, residential buildings, a residential-commercial building, shops, and residential units. Sales were concentrated in the municipalities of Doha, Al Rayyan, Al Daayen, Umm Salal, Al Wakrah, Al Khor and Al Dakhira, Al Shamal, and the areas of The Pearl Island, Lusail 69 and Legtaifiya. The volume of real estate trading in sales contracts…

Average rental rates across Riyadh’s retail market have risen by 3% to SR2,725 ($727) psm for both regional and super regional malls in the last 12 months, while occupancy rates across the retail market rose by 5 percentage points to 90%. According to global property consultancy Knight Frank’s Summer 2024 Saudi Arabia Retail Market Overview, the total existing retail supply in Riyadh stands at 3.6 million sq m, with around 27,050 sq m of retail space entering the market in Q1 2024. Knight Frank forecasts that the capital’s retail stock will grow by 28% to 4.6 million sq m by 2026. In contrast to the capital, Jeddah and the Dammam Metropolitan Area (DMA) have experienced subdued retail market growth in the last 12 months with occupancy rates dropping by 1 percentage…

The real estate market in the country demonstrated a seven percent growth in the first half of this year compared to the second half of last year. from January to June 2024, the total value of real estate contracts registered with the Ministry of Justice amounted to approximately 1.619 billion dinars, marking an increase of 112 million dinars from the 1.507 billion dinars registered in the second half of 2023. Despite the overall growth in total contract value, there was a notable decline in various types of real estate transactions, except for exhibitions and warehouses.     The first half of the year saw the registration of 4 exhibition contracts totaling 10.8 million dinars, and warehouse contracts increased by 55.5 percent in number, with 9 contracts compared to 4 in the…

The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in June 2024, amounted to QR1,118,975,109.     The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 285 real estate transactions were recorded during the month, as the number of properties sold index recorded an increase of 8 percent.   Al Dhaayen, Al Rayyan, and Doha municipalities topped the most active transactions in terms of financial value in June, according to the real estate market index, followed by Umm Salal, Al Wakrah, Al Khor and Al Dhakira, and Al Shamal.   The real estate market index for June 2024, revealed that the financial value of Al Rayyan municipality's transactions…

Kuwait real estate developer Mabanee has entered into a deal with a local bank to raise its credit facility from 25 million dinars ($81.5 million) to 45 million dinars ($146.7 million), according to a company disclosure on the Kuwait stock exchange (Boursa Kuwait).    The deal has been inked with a local bank for a period of 11 months. Mabanee said the purpose of this facility is for financing the company’s activities. In December, Mabanee broke ground for its $1 billion project, The Avenues Khobar Mall, in Saudi Arabia located in the Eastern Khobar city. Phase 1 of the project will include a shopping mall and a mixed-use tower, which is expected to be completed by 2026. The Kuwaiti developer also announced a deal last October to purchase a vacant plot in Bahrain…

وتعتبر العقارات في البلاد من بين العقارات الواعدة والأكثر جاذبية في منطقة الخليج، مع إمكانات كبيرة، وخاصة في مدينة لوسيل. باعتبارها ثاني أكبر مدينة بعد الدوحة وتعتبر العاصمة الاقتصادية لقطر، تفتخر لوسيل أيضًا بأحد أكثر قطاعات الترفيه الواعدة، حسبما ذكرت بروبرتي فايندر (منصة عقارية رائدة في منطقة الشرق الأوسط وشمال أفريقيا) في تقريرها السنوي للعقارات السكنية. وصلت المشاريع العقارية الجارية في قطر حتى نهاية عام 2023 إلى مراحل متقدمة من…

Doha: The volume of real estate trading in sales contracts registered with the Real Estate Registration Department of the Ministry of Justice from June 9 to 13 of 2024 reached QR398,338,931, while the total sales contracts for the real estate bulletin for residential units during the same period reached QR41,240,045.   The weekly bulletin issued by the department indicates that the list of real estate properties traded for sale has included vacant lands, houses, residential buildings, shops, an apartment complex, and residential units. Sales were concentrated in the municipalities of Doha, Al Rayyan, Al Daayen, Umm Salal, Al Khor, Al Thakhira, Al Shamal, Al Wakrah, and the areas of The Pearl Island, Legtaifiya, Al Kharayej. The volume of real estate trading in sales contracts…

The Oman Ministry of Housing and Urban Planning (MoHUP) is forging ahead with the design of the $1.3-billion Al Khuwair Muscat Downtown and Waterfront Development, a massive project that is set to redefine Muscat’s urban landscape.   Spanning 3.3 million sq m in Muscat’s northern Al Khuwair district, the project responds to the anticipated rapid growth of the capital both in terms of its resident population and the surge in tourist number. Hence, the masterplan design created by Zaha Hadid Architects (ZHA) will transform this existing administrative and industrial area of Muscat into a vibrant new urban district with an expected population of 64,500, according to the MoHUP. “This visionary project will bring us another step closer to realising the Oman Vision…

Qatari Diar, a wholly owned unit of the sovereign-backed Qatar Investment Authority, has signed a deal with Egypt’s Organi Group to deliver three real estate projects in the North African country.     The news was confirmed by Ibrahim Al Organi, Founder and Chairman of the Egyptian company, which has investments in real estate, construction, transportation, hospitality, and tourism.   Revealing details about the projects in a post on the micro-blogging site Threads, Al Organi said the deal extends to three developments spearheaded by Qatari Diar, including the 5th settlement of the CityGate project in New Cairo, the recently launched $1 billion St. Regis Residences project, along with hotels in Sharm El-Sheikh and Hurghada.   Qatari Diar, which is invested…

Muscat: Residential land prices in Oman led the general index of real estate prices in the Sultanate of Oman to record a decline of 2.6 percent in the first quarter of 2024, according to statistics issued by the National Centre for Statistics and Information (NCSI).   The residential land price index decreased by 0.9 percent, apartment price index fell by 17.3 percent, villa price index increased by 0.8 percent while the price index for other homes decreased by 4.3 percent. The general residential real estate price index recorded a decrease of 2.9 percent in the first quarter of 2024 compared to the fourth quarter of 2023, where the residential land price index recorded a decrease of 0.8 percent. The number for residential apartments decreased by 14.8 percent, villas by 2.1…

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…

Kuwait's Public Authority for Housing Welfare (PAHW) has annnounced that work is moving at a steady pace on its ambitious project - Sabah Al Ahmad City - mainly the south and east sectors of the project, with power connection given to 40 of the total 60 buildings within the mega development.   The PAHW authorities are currently focusing on developments in the south and east sectors, as well as a vertical housing initiative in the investment suburb. This phase of the project aims to create 20,380 plots, stated PAHW in its statement. The officials said the East Sabah Al Ahmad City project, which involves the development of 1,148 homes alongside public buildings, road infrastructure, and service networks, was also reviewed. A 61.5 sq-km development, Sabah Al Ahmad City, was formed…