DOHA: Real estate price index has grown last week on significant weighty property sale deals that exceeded QR50m, which raised the total sale deals values, according to a recent report by Ezdan Real Estate Company. Some municipalities have seen hefty transactions with a value worth of QR30m, signaling recovery impacts on real estate market performance during the week from 23-27 February, the report added.
Commenting on property sale deals clinched during the period from February 23 to 27, 2020, the Real Estate Registration Department has registered 84 real estate sales with a total value exceeding approximately QR359.7 m, and the operations were distributed over 7 municipalities: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakrah, which included vacant land lots, housing, multi-use buildings, multi-use space, and residential buildings Al Rayyan Municipality ranked first by highest deal in terms of value through the sale of a residential complex in the Al Gharaffa spreading over a huge area of 10319 square meters, at a price of QR 450 per square, totaling up to QR 50m.
Doha Municipality ranked second highest deal in terms of value by selling a residential building in Old Airport Area, with a value exceeding QR35.1m, and an area of 4,031 square meters at a price of QR810, which contributed to the increase of the total value of sales throughout the week in the municipality, while Al Shamal municipality has witnessed the lowest property sale deal in terms of value for a vacant land lot in the Ruwais spanning over an area of 419 square meters at a price no more than QR 137 per square foot, totaling QR 620,000.
