DOHA: The Cabinet last week has approved a draft resolution for forming a real estate development interim committee to help develop strategies for the enhancement of the real estate sector in Qatar and shall serve under the umbrella of the Minister of Municipality and Environment, Ezdan Real Estate report noted.
The interim committee will be specialised in devising growth strategy for Qatar’s real estate market, policies and plans necessary to implement enhancement projects bolstering the sector.
The report indicated that the move stems from the state’s continued support to all different economic sectors, especially the real estate sector being one of the vital industries. In addition it gives promising outlook due to the huge development in the infrastructure in terms of quantity and quality, that come in line with the full swing arrangements for hosting World Cup 2022. This can be touched remarkably by the tremendous developments and the major projects that flourished newly developed urban areas.
Real estate price index in terms of value and volume has seen 90 property sale deals registered during the period from 9 to 13 February 2020, according to the figures announced by Real Estate Registration Department with a total value exceeding QR262.6m.
The operations were distributed among 7 municipalities: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra, and included vacant land lots, residences, multi-use buildings, multi-use space, and residential buildings.
Al Rayyan Municipality ranked first by highest value of a sale deal of a mixed-use land lot in Abu Hamour, with a value amounting to QR28m, spreading over an area of 7860 square meters at a price of QR331 per square foot.
The activity this week has not witnessed any substantial deals of more than QR50m that might have contributed to lifting the real estate weekly price index.
Al Rayyan municipality has seen also clinching the least sale deal in terms of value for a residence property in the Muaither of 164 square meters, with an average price per square foot that did not exceed QR362, totaling nearly QR637.200.
