File picture used for representation.
Doha: Real estate price index has soared during the past week, after clinching 59 property sale deals in seven municipalities worth more than QR 2bn, bolstered by huge exceptional deals, a report by Ezdan Real Estate stated. Three major deals amounting to almost QR1.3bn, domineering around 62 percent of the total transaction volume were closed in Wukair during the week, entailing a vacant land spreading over an area of approximately 301.00 square meters, at QR193 per square foot, mounting up to of 623.7m.
The second deal concluded in same region for a vacant land of 209.000 square meters at the same price per square foot, totaling QR433.4 m, the third one for a 961000 square meters land plot, with a total price of QR199.1m, according to the statistics announced by the Real Estate Registration Department, Qatari Ministry of Justice.
The three groundbreaking sales deal drove the real estate price index during the week from 12-16 January to proceed apace, stimulating forecasts for a promising market and booming real estate activity in 2020, especially in the southern region which is witnessing a boom in urban development with the implementation of giant infrastructure projects, such as road broadening and construction of thousands of housing units in the south, offered at competitive prices.
Doha has witnessed also significant deals in Dafna area with the sale of a multi-use building over an area of 4232 square meters at a relatively high square foot price of QR 8342, with a gross value of QR 380m, in addition to the sale of a residential building constructed over 7674 square meters, at a square foot price of QR 1259, totaling QR 104m.
