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…

Bahrain - Eagle Hills Diyar, one of Bahrain’s most prolific urban developers, has secured a BD130 million ($343 million) dual currency real estate financing facility, to further its ambitious goals for the development of its iconic waterfront project Marassi Al Bahrain.     Announcing this at a key ceremony held in Manama, Eagle Hills Diyar said UAE bank Mashreq had played a vital role in structuring this real estate deal, acting as the sole co-ordinator, book runner (IMLAB), investment manager, security agent, and account bank.   Mashreq Bank along with Kuwait Finance House – Bahrain mandated as lead arrangers, fully underwrote the entire facility.   Dr Maher Al Shaer represented Eagle Hills Diyar at the ceremony alongside Tarek El Nahas, the Group…

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…

Bahrain Marina Development Company has announced that steady progress is being made on its iconic Bahrain Marina project being developed at a tota investment of BD200 million ($527 million) in the capital Manama with nearly 18% of the construction work already completed.   On completion, this premier destination features an array of retail stores with leading brands, high-end restaurants, and cafes recognised both locally and internationally.   Additionally, the project encompasses a commercial complex, a yacht parking facility, and an expansive 3,200-square-meter marine club.   Giving a project update, the Bahraini developer said the marina project was not only advancing confidently towards its developmental objectives but also surpassing anticipated progress, as…

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…

Muscat: The total value of real estate transactions in the Sultanate of Oman decreased by 19.5 percent to OMR587.50 million at the end of March 2024 compared to OMR730.10 million during the same period in 2023. Statistics issued by the National Centre for Statistics and Information (NCSI) indicated that the fees collected for all legal transactions decreased by 10.3 percent to OMR16.5 million at the end of March 2024. The total value of sales contracts amounted to OMR284.90 million. The traded value of mortgage contracts decreased by 30.8 percent to OMR299.80 million in 4,858 contracts while the number of swap contracts reached 383 worth OMR2.8 million. Property issuance figures showed a 6.9 percent decrease, with 57,167 properties issued by the end of March 2024. Properties issued to…

 Leading international retail franchise operator Alshaya Group proudly announces the opening of the first Hampton by Hilton in Kuwait, in partnership with Hilton. Located in the heart of Kuwait, in the Salmiya District, Hampton by Hilton Kuwait Salmiya boasts 110 modern and stylishly designed bedrooms. The brand-new hotel promises a hassle-free experience with comfortable, thoughtfully designed rooms, friendly service, as well as convenient and modern amenities, including a free hot breakfast and a fully-equipped gym. “The opening of our first Hampton by Hilton marks a milestone in diversifying our hospitality offerings to customers in Kuwait. Over the years, the region has experienced a surge in demand for high-quality hotels, and we're thrilled to bring the Hampton by…

To finish the process of implementing the new law’s provisions, the Ministry of Justice (MoJ) is drafting the executive decisions and regulations of Law No. (5) of 2024, which governs real estate registration. Saeed Abdullah Al Suwaidi, the MoJ’s Assistant Undersecretary for Real Estate Registration and Documentation Affairs, explained that this is part of the ministry’s efforts to modernize the legal and service system and to carry out the wise leadership’s directives to speed up transactions and services provided to citizens and residents. It also aims to raise the standard of services provided by government authorities, including the initiation of digital transformation initiatives. According to him, the law has entirely created several new provisions for real…