Doha: Qatar’s real estate sector’s contribution in GDP will increase going forward and the sector is emerging as a key growth platform in country’s path towards economic diversification, said Chairman of Just Real Estate (JRE) Eng. Nasser Al Ansari. He was speaking during an event orgnasied by JRE to provide year-end review and forecast for the upcoming year.
Guests attending the event included Ambassador of the Islamic Republic of Iran to the State of Qatar H E Hamid Reza Dehghani; Ambassador of Azerbaijan to Qatar, H E Rashad Ismayilov; Ambassador of the Republic of Moldova to the State of Qatar H E Victor Tvircun and Ambassador of Tajikistan to Qatar, H E Khisrav Sohibzoda.
JRE’s Chairman said country had much to gain from hosting the FIFA World Cup 2022 and from the new Doha lifestyle properties now coming into the market. Al Ansari said after a difficult 18 months, when the market was subject to volatility brought on by the COVID-19 pandemic, the sector is once again emerging as a key growth platform within Qatar’s economic diversification aims, which are inherent in the Qatar National Vision 2030.
“We believe the real estate sector’s GDP contribution will only increase going forward,” he said. “This will be particularly so in 2022 when Qatar will receive global exposure with the arrival of the FIFA World Cup.” Al Ansari added that Qatar and the region will benefit from the World Cup exposure by opening up people’s minds to the country and the region as places to live, work, visit and enjoy.
“We will have the opportunity to tell people of our remarkable geographic location from which they can service a wide customer base of over 1.8 billion. They will hear and see the great developments in which they can invest and many more will have their interest in visiting Qatar and the region. At JRE, we plan to support all efforts to put Qatar’s compelling investment and tourism case forward.”
He said World Cup visitors and viewers from around the world will see a new style of living in Qatar – one that is focused on luxury, convenience, sustainability, and facilities for a great work-life balance that aids mental and physical wellbeing. “Projects which truly reflect new Qatari living styles include the Four Seasons on The Pearl, Terazza Residence in Lusail and Qetaifan North Island,” he said.
He added: “We look forward next year to the completion of The Four Seasons Hotels & Resorts, on The Pearl which offers the country’s first serviced residences and private apartments, managed by this high value brand.”
The Four Seasons will be an exclusive community of 80 private designer residences and four luxury penthouses all fully-equipped to the highest quality levels and with breath-taking sea views, offering a unique and luxurious destination on the waterfront.
JRE’s latest offering – the luxurious Terraza Residence in Lusail Fox Hills- epitomizes new Doha living with a wide range of apartment options from studios to spacious two-bed residences ready for investment by Qataris and foreigners alike.
Terraza Residence features 104 sqm studio, and one-bedroom apartments ranging in size from 84-118 square metres, in addition to two-bedroom apartments ranging in size from 99-125 square metres. Some apartments have balconies.
Residents benefit from a swimming pool, an entrance reception, shops on the mezzanine and ground floors, 24/7 security and on-site parking.
“With so much on its doorstep, Terazza Fox Hills will be a community of active individuals and families,” said Al Ansari.
JRE also reported strong investor interest in Qatar’s future iconic destination – the 1.3 million square feet Qetaifan Island North in Lusail. “This destination is a huge vote of confidence in the future of Qatar, the anticipated viability of its hospitality and tourism sectors and the intended quality of lifestyles in Qatar,” said Al Ansari.
The island features residential beachside villas and Qetaifan Projects’ new ‘Duplex’ units in limited quantities within the South Mid-rise towers on the marina.
These distinct units are characterized by unprecedented privacy, each has a private entrance, swimming pool, spam parking lot and its own garden and separate staff accommodation. The units come with an average area of 450 square meters.
There has been ‘sold out’ demand for 107 beachside villa plots on the eastern side of the island ranging from 1000sqm to 2400sqm, the waterfront plots from 1000sqm to 1800sqm, and the garden villa plots reach an area of 1300sqm at an average of 850sqm. The villa design allows building a ground floor in addition to two floors, including the first floor and the penthouse, and it is also possible to build a basement.
Al Ansari told the gathering that all industry indicators of the national economy are now predicting growth, and the recovery of real estate markets. “So, this is the right time to invest,” he asserted.
