DOHA: The construction boom in the country, fuelled by the 2022 World Cup projects, continues to attract investments in the real estate sector. Last year, 22 new real estate companies with a total capital that runs into tens of billions of dollars were established in Qatar.
Real estate is one of the most lucrative sectors of the Qatari economy. Investments in housing properties yielded eight percent returns in 2014, while those in commercial and administrative assets yielded 15 percent — the highest in the region, reported local Arabic daily Al Watan.
Given the volatility in oil and gas prices, the real estate sector has become a safe haven for most investors in the country.
The government’s massive spending on infrastructure projects in the run-up to the football extravaganza has been a big boost for the real estate sector.
Investors are now reluctant to invest in sectors that are more exposed to energy prices.
The authorities are helping real estate developers expand their operations in the country and overseas. Over the past five years, the sector has witnessed significant growth, partly due to the government’s support to local real estate companies as part of efforts to address housing shortages in the county.
The sector remained resilient and recovered from the impact of the global financial crisis of 2008.
Investors are upbeat about the booming real estate market and focusing on commercial developments, especially near big infrastructure projects and other establishments.
With scores of new companies setting foot in Qatar, demand for commercial space, especially for offices, is high and the market is expected to remain bullish.
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