Doha- Reports, real estate companies, and developers affirm the strength of Qatar’s real estate sector and its ability to continue its growth, support the local economy, enhance the country’s status as a regional business hub, and create a new momentum towards the future in light of the “Qatar 2030” vision.
Key Figures
According to the “Mourdor Intelligence” platform, the size of the commercial real estate market in Qatar reached $15.62 billion in 2023, with expectations to reach $22.5 billion by 2028 at a compound annual growth rate of 7.6%.
The residential sector’s size was $4.3 billion in 2023, and it is expected to witness a compound growth of over 6.2% during the period from 2024 to 2029.
As per the same source, Qatar saw the opening of 500,000 square meters of commercial spaces in the form of complexes and commercial streets over the past three years. The significant government investment in infrastructure projects has provided crucial support to the real estate sector.
The real estate trading volume in sales contracts during last December reached about 1.5 billion Qatari riyals, as Qatar aims to increase the trading volume to 100 billion Qatari riyals ($27.4 billion) annually.
The real estate trading volume in Qatar amounted to 1.5 billion riyals during last December (Getty Images)
Government Support
Real estate expert and Chairman of “Kate Real Estate” company, Abdulrahman Al-Najjar, sees the state’s continued execution of projects as a key factor driving real estate sector growth. He noted the intent of numerous government entities to implement projects worth over 70 billion riyals during this year.
Al-Najjar told Al Jazeera Net that these projects, alongside real estate development, attract foreign investments.
On the other hand, real estate expert and appraiser Khalifa Al-Muslimani stated that “the real estate sector ranks second after oil in supporting the gross domestic product.”
In a statement to Al Jazeera Net, he added that the real estate sector provides good returns for investors, allowing them to achieve profits and good returns without risks.
The trading value of listed real estate companies on the stock exchange exceeded 8.4 billion riyals during the past year (Shutterstock)
Mohamed Al-Naimi, Chairman of “I-Cloud” Trading and Contracting Company, stated that the projects implemented by Qatar, in line with its long-term vision for 2030, provide opportunities for the country’s real estate market to thrive.
Al-Naimi, in a statement to Al Jazeera Net, projected that the country’s construction market will surpass $57 billion during the current year.
Financial analyst Tamer Hassan considered that the strong performance of real estate companies listed on the local stock exchange reflects the strength of the real estate sector in Qatar.
Currently, the Qatar Stock Exchange includes 4 companies operating in the real estate sector, with efforts to attract and list more new real estate companies.
The trading value of listed real estate companies on the Qatari Stock Exchange exceeded 8.4 billion riyals during the past year.
