Salvie Espineda
Business Development Manager
Jestate for Real Estate
Qatar’s real estate market witnessed a “lucrative” year despite a global slowdown in 2022.
The Qatar Vision 2030 has robust strategies to engage investors in commercial real estate demands during 2022.
The market for commercial real estate properties is expanding due to the developing areas and the launching of new projects, which implies more properties added to outstanding resorts and hotels. More commercial buildings and upcoming projects are the primary interest of investors.
These tendencies improve the strength of commercial real estate within Qatar, noting that the rental earnings are more elevated now than before. It is a good chance for commercial movements and investment experiences. Moreover, forthcoming buyers can increase the investment demand for prospects across projects and properties.
The city’s development and new projects attract people and companies to focus on the activities in some locations. The demand is moving away from old hotspots like C-Ring Road, Al Sadd, and West Bay toward Lusail City due to the development of the Lusail Marina District as a modern city.
Occupancy has decreased in numerous towers in Doha due to the significant switch towards offices in Lusail. These towers were formerly inhabited by governmental organizations that have since bought or leased commercial towers in Lusail; this impacts the real estate market competitiveness in what used to be Doha’s hub-designated neighbourhoods.
A further location, Lusail Fox Hills, with additional properties, will be completed soon, inevitably driving up the cost of office and retail spaces.
The demand for commercial real estate properties is increasing because of the developing locations and the launching of new projects and luxury properties. Many commercial towers and developing projects are the main attraction for investors, among which unique hotels and resorts exist.
These trends enhance the power of commercial real estate and activities within Qatar. The rental yields are higher during this season. Moreover, prospective buyers can explore the investment opportunities and potential in exclusive projects and properties. It is also a tremendous challenge for commercial activities and investment ventures.
Qatar’s focus on hospitality, notably the FIFA-2022 World Cup, is at the forefront of the country’s tourism expansion plans. The country’s tourism industry has gained traction because of various new events, including the FIFA 2021 Arab Cup, the Exxon Mobil Tennis Open, and many international exhibitions, including Christian Dior’s “Designer of Dreams” the Jeff Koons’ “Lost in America” exhibition.
The AFC Asian Cup will be held in Qatar next year, and the Qatar Grand Prix 2023 Formula 1 races are scheduled for October. Qatar will also host the FIA World Endurance Championship opening race in 2024 and the 2025 World Table Tennis Championships finals.
In addition to the World Cup, Qatar is also hosting several other significant events in the coming years, including the 2030 Asian Games and the 2023 World Athletics Championships. These events are expected to drive further demand for real estate, making it an even more attractive investment opportunity.
About the author:
Salvie is a driven and motivated Business Development Manager with over ten years of experience in the real estate market in Qatar. She has collaborated with other real estate companies in contract negotiations while adhering to organizational procedures and policies for all lease processing. She joined Jestate for Real Estate in December 2018.
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