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Real Estate Sector Profile

PricewaterhouseCoopers


The Qatar real estate market performed relatively strongly in 2011 considering the background of the continued global downturn. 

Commercial Office Market

In the last several years there has been a considerable increase in the supply of office accommodation in Qatar and this has pushed down office rental rates from the peak experienced in 2008.

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Source: Asteco - Qatar Report Q4 2011

 

Residential Rental Market

Rental prices were relatively stable in 2011 following the significant decreases in 2010 as a result of increased supply and a fall in demand. The most expensive areas in which to rent are the Pearl, West Bay Lagoon and West Bay/Dafna. 

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Source: Asteco - Qatar Report Q4 2011

 

Sales of Residential Property

In March 2011 it was announced that expatriate homeowners in Qatar would be able to apply for residency using their property.  In the medium to long term it is expected that this will increase demand from non-Qatari individuals and from foreign companies for purchase of property in the freehold zones such as the Pearl.

 

Major developments 

Two of the most significant developments in the commercial real estate sector will be Energy City Qatar, being developed as part of Lusail City, and the Barwa Financial District being developed in the West Bay area of Doha.  Many new hotels will also be required before 2022 as the government has committed to build at least 84,000 hotel rooms ahead of the FIFA World Cup.  Many other major infrastructure projects are underway or have been scheduled as part of the Qatar National Vision 2030, and development has been accelerated by the award of the right to stage the FIFA World Cup in 2022. Click here for a summary of the major infrastructure projects being undertaken or about to be undertaken.  

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