Doha: A growing demand have been monitored for open plan offices and units, and the most- sought after regions are West Bay and Al Sadd, controlling 40 percent of total demand on administrative properties, according to a Ezdan Real Estate report.
This remarkable rise in demand in Al Sadd and West Bay areas came on the back of improved services for open plan office and administrative areas offered for tenancies, premium location near Doha Center, which make them as a haven for many companies looking for an imposing locations viable for flourishing business, the report noted and highlighted the engaging nature of Lusail City, especially after the completion of 95 percent of its infrastructure. The City extends over an area of 38 square kilometers, which can accommodate nearly 200,000 residents and 170.000 of manpower. It includes many establishments, housing units and offices of various areas including 22 hotels, ranking third in terms of the volume of demand for administrative offices thanks to its high-quality buildings and rentals at competitive prices.
Commenting on the real estate market activity, the report indicated that 82 property sale deals were registered during the period from 16-20 February 2020, according to the statistics disclosed by Real Estate Registration Department with a total value exceeding QR255.2m, and the deals cover 7 municipalities, namely Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra, and entailed vacant land plots, housing, multi-use buildings, and residential buildings.
Doha ranked first by deal value, where it witnessed the clinching of a QR15m-deal through the sale of residential building spreading over an area of 874 square meters at a price of QR1594. The week has not witnessed any significant or exceptional sale deals outnumbering QR 50m, that might have boosted the real estate price index during the week. Similarly, Doha ranked second by largest property sale deal for a multi-use building in the southern city of Khalifa City, with an area of 591 square meters, at an average price per square foot that reached QR1847, with a total value of QR11.75 m.
