Real estate sector sees moderate growth

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Qatar’s real estate sector witnessed a moderate growth, both in terms of the value of transactions as well as the number of deals executed, in the first week of December (3-7). The combined value of real estate transactions during the week increased to QR434.8m, up 6.85 percent compared to QR406.9m registered in the previous week, according to Ezdan Holding Group’s Weekly Report.

This growth reflects the continued recovery of real estate transactions despite the absence of major exceptional transactions worth more than QR100m.

A total of 75 real estate transactions were executed during the week, registering a 7.14 percent growth against 70 deals inked in the previous week, said Ezdan’s latest report citing data from the weekly bulletin issued by the Department of Real Estate Registration at Ministry of Justice. Real estate transactions maintained their positive performance.

Transactions for prefabricated buildings maintained their positive performance with 56 deals, accounting for 89.4 percent of real estate transactions with a total value of QR388.8m, while the transactions for the plots of land accounted for10.6 percent of the total transactions (19 deals) worth QR46m.

Al Rayyan Municipality topped among all municipalities both in terms of the value of transactions and the number of deals executed during the week. The combined value of transactions in the municipality stood at QR179.6m from 19 deals, accounting for 41.3 percent of the total value of transactions for the week. Al Rayyan municipality saw 6 percent surge in the number of transactions during the week compared to the previous week.

The highest deal value during the week was QR89.1m for the sale of a multi-use building located at Abu Hamour area of Al Rayyan Municipality with an area of 6,504 square metres. Read more here...