The value of the Qatari real estate market is more than $485 billion (Associated Press)

Doha -

Reports, real estate companies and developers confirm the strength of the real estate sector in Qatar, its ability to continue its growth and support the local economy, enhance the country’s position as a regional business center, and create a new beginning towards the future in light of the “Qatar 2030” vision.

Function numbers

The Mordor Intelligence platform reports in its report that the size of the commercial real estate market in Qatar reached $15.62 billion in 2023, with expectations that it will reach $22.5 billion by 2028 with a compound annual growth rate of 7.6%.

According to the same source, the size of the residential sector reached $4.3 billion in the year 2023, and the sector is expected to record a compound growth of more than 6.2% during the period 2024-2029.

As for Al Asmakh Company’s report, it indicated that during the past three years the country witnessed the opening of 500,000 square meters of commercial space represented in commercial complexes and streets, explaining that the large amount of government investment in infrastructure projects provided major and important support to the real estate sector.

The volume of real estate trading in sales contracts during last December amounted to about 1.5 billion riyals, at a time when Qatar seeks to reach the trading volume to 100 billion riyals ($27.4 billion) annually.

Real estate trading volume in Qatar reached 1.5 billion riyals last December (Getty Images)

governmental support

Real estate expert and Chairman of the Board of Directors of Kate Real Estate Company, Abdul Rahman Al-Najjar, believes that the state’s continued implementation of projects is one of the main factors driving the growth of the real estate sector, noting the intention of many government institutions to implement projects during the current year worth more than 70 billion riyals.

Al-Najjar told Al Jazeera Net that these and other projects - in addition to developing the real estate sector - attract foreign investments.

For his part, real estate expert and appraiser Khalifa Al-Muslimani said, “The real estate sector ranks second after oil in supporting the gross domestic product.”

He added - in an interview with Al Jazeera Net - that the real estate sector achieves good returns for investors, and enables them to achieve good profits and returns without risks, according to his opinion.

The value of trading of real estate companies listed on the stock exchange exceeded 8.4 billion riyals during the past year (Shutterstock)

In turn, Mohammed Al Nuaimi, Chairman of the Board of Directors of iCloud Trading and Contracting Company, said that the projects implemented by Qatar - in commitment to its long-term vision for the year 2030 - provide opportunities for the recovery of the real estate market in the country.

Al-Naimi expected - in a statement to Al-Jazeera Net - that the size of the construction market in the country during the current year will exceed $57 billion.

As for financial analyst Tamer Hassan, he considered that the good performance of real estate companies listed on the local stock exchange reflects the strength of the real estate sector in Qatar.

The Qatar Stock Exchange currently includes 4 companies operating in the real estate sector, amid the stock exchange’s keenness to attract and list more new real estate companies.

The value of trading of real estate companies listed on the Qatari Stock Exchange during the past year amounted to more than 8.4 billion riyals.

Source: Al Jazeera