Qatar's construction sector continues to witness growth, even in these trying times when other countries are struggling with impact of coronavirus pandemic. According to a recent report released by the Planning and Statistics Authority, the total number of building permits issued by the municipalities in Qatar reached 500 in April, compared to 483 permits in April last year.
This growth demonstrates the resilience of the construction sector of Qatar which is getting continuous support from the government. Building permits and building completion certificates data is important as it is considered an indicator for the performance of the construction sector which in turn occupies a significant position in the national economy.
According to the report, Al Rayyan municipality came at the top in terms of issuance of building permits as it issued 162 permits, accounting for 32 percent share in of the total issued permits. Doha municipality came in second place with 105 permits, with a share of 21 percent, followed by Al Wakrah municipality with 79 permits (16 percent) and Al Da’ayen municipality with 73 permits.
Umm Slal municipality issued 30 permits, Al Khor municipality 27 permits, Al Sheehaniya municipality 14 permits while Al Shamal municipality issued 10 permits. Construction sector has been witnessing continuous growth in the past many months. The number of building permits issued by municipalities in the country had reached 1,194 in March, an increase of 8 percent compared to February.
The growth in construction sector is supported by Qatar’s buoyant real estate sector. As per the Ministry of Justice report, the value of deals and number of deals has witnessed significant growth in March compared to February.
Qatar’s real estate sector witnessed deals worth QR2.57bn in March compared to QR1.77bn in February this year, recording a surge of around 45 percent, according to the Real Estate Bulletin released by the Ministry of Justice.
Other reports have also validated the strength of Qatar’s real estate sector, which is playing a crucial role in stimulating national economy. Last year saw the further opening of real estate sector by allowing foreigners to own real estate in more areas in the country. In October, the government announced the decision to allow foreign companies and individuals to own real estate in 25 areas in the country.
According to the new decision, the owners of property which is worth no less than QR730,000 will be offered residency for them and their family. The support from government agencies ensures that Qatar’s construction sector is poised for growth in future.
