Measures taken by the government have supported the recovery of Qatar’s real estate sector and boosted confidence of stakeholders in this sector, said monthly real estate a report released by SAK Holding Group. Qatar is still the least affected country due to volatility in global economy due to the government’s continuous spending on major key projects.
“We have witness a series of government measures to develop and strengthen both business and investment environments that understands the needs of the real estate sector, provides everything needed for its recovery,” said the report.
Among the important steps taken by the government include, specified time frame for issuance of building permits and industrial projects licenses, a committee to develop a mechanism for pricing of land in industrial areas and logistic cities and allocation of land for development for building schools and hospitals by the private sector.
These steps will help in attracting local and foreign investments in the sectors and will benefit the real estate sector. The report said well-adjusted development efforts will create investment and real estate opportunities. There are eight promising developmental projects to develop infrastructure, roads, drainage systems, street lighting and other basic services in Al Wakra, Al Wukair and Al Mashaf.
It will serve nearly 11,000 new lots of land, which will boost the demand of investors and developers for land in those areas to create projects that meet the needs of residents and prospective newcomers.
The report cautioned that there might be adverse impact on the real estate sector, if supply exceeds expected demand, especially in luxury properties.
The report predicted that the construction materials market will be positively affected when Qatar Primary Materials Company starts production, and recycling of construction waste. This will reduce imports of certain types of primary building materials and will also enhance the stock pile of construction materials supplies needed for the construction sector. This is important from an environmental perspective and contribute to sustainable development. It will ease pressure on ports and it will support the strategic reserve of primary construction materials in the country.
