Mohammed Yousif Shoqeir
Sales Manager
Retaj Real Estate
Within a few years, Qatar has become one of the most important regional and international forces that managed to position itself on the global economic scene … not only because of its wealth of oil and gas, but because of its long-term vision, which has resulted in a developed country capable of providing high living standards for its citizens, residents and for all future generations to come. Qatar’s progress in many fields made it secure an attractive business climate by linking its present with its future and responsibly exploiting its resources, as represented in the Qatar National Vision 2030, which emphasised the development of infrastructures such as airports, ports, metro, hospitals, universities, sports, and the real estate sector… The professionalism of the country during economic fluctuations, whether in periods of prosperity or deflation, qualified them to draw an economic map of the region.
Thanks to the booming economy and the laws taken by the government to encourage real estate investment, infrastructure development, the use of advanced systems, and the growth of the real estate sector, the State of Qatar has been able to implement new construction and world-class construction projects, such as the Msheireb project in the heart of Doha, Lusail City and The Pearl. Today, the value of the real estate market in Qatar is estimated at more than ten billion US dollars and is expected to grow significantly over the next few years.
In recent decades, the real estate sector in the State of Qatar had an unprecedented role and the latest qualitative move in enhancing Qatar’s position internationally and contributed to effectively supporting the economic growth of the country in a way that made Qatar the most attractive investment destination in the world. As the real estate sector is witnessing rapid and effective growth as a reflection of what had been achieved over the past years, benefiting from the development projects implemented by the state, to enable and maintain leadership in all sectors over the years, driven by the development and economic plans that represent Qatar’s vision 2030. The country’s economic growth،
After the Covid-19 pandemic cast a shadow during the year 2020 and led to a decline in prices and stagnation across sectors, especially the real estate, during 2022, it began to gain some momentum, in light of investors continuing to seize the buying opportunities available in the residential real estate sector throughout the year. I think it is fair to say that there is a vision for stability of the real estate market after 2022.
Since the real estate sector is one of the most important economic sectors in the State of Qatar, which is witnessing increasing and rapid growth, and is considered a safe haven for many investors, thanks to the wise policy of His Highness Sheikh Tamim bin Hamad, the Emir of the country, and the laws and facilities provided, the real estate market has been able to achieve a qualitative leap in all activities for both residential and commercial, which contribute to an increase in the number of real estate companies working on providing real estate solutions in Qatar.
Despite the global economic conditions that dominate the economic landscape, the real estate sector in Qatar has been able to complete strategic projects in the country, such as the city of Lusail and the Pearl Island and all the facilities related to the Arab Cup and the 2022 FIFA World Cup™, where the sector was able to prove its ability to organise the real estate market and create many investment opportunities. Of the housing units to serve this major global event, we expect after the end of the World Cup™ that real estate prices will stabilise because the State of Qatar is on the verge of many giant projects that require a lot of housing units and skilled labour. Of course, the real estate market still provides opportunities for growth. As there are many upcoming big projects with promising opportunities،
This article was published as part of the eighth edition of Property Finder Qatar’s Trends Report.
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