DOHA: The real estate sector witnessed an increase in the trading value of transactions despite the summer holidays.
The combined value of deals during the fourth week of August reached QR514.1m, up 8.7 percent compared to QR473m in the previous week, Ezdan Holding Group’s latest weekly report said yesterday.
However, the number of transactions during August 24-28 declined by 30 percent, with 105 compared to 150 in the previous week.
Al Daayen Municipality executed 27 deals, the largest number in the country, or 25.7 percent of the total, followed by Doha Municipality with 22 transactions.
Land plots continued to dominate transactions and represented 54.7 percent of the deals compared to 45.3 percent of other transactions in all areas.
The report said transactions especially involving pots, will rise in the coming weeks as investors and developers are directed towards the establishment of more real estate projects.
The report, based on the weekly bulletin issued by the Real Estate Registration Department at the Ministry of Justice, said the average daily value of real estate transactions totalled about QR102.8m compared to QR94.6m in the previous week.
During the third week of August, Doha Municipality ranked first in terms of the value, with deals worth QR246.1m compared to QR108.6m in the previous week, up 127 percent through implementation of 22 deals and 47.9 percent of the total transactions in the week.
Doha Municipality saw the top deal of QR90m involving the sale of a house admeasuring 15,365sqm at the rate of QR5,891 per sqm in Umm Ghuwailina.
Transaction for plots recorded 23.1 percent of the total in Doha worth QR61.7m, while other real estate deals represented QR184.4m.
Al Rayyan Municipality ranked second in terms of value with QR94.1m compared to QR184.8m in the previous week, down 49 percent. It saw 19 deals or 18.3 percent of the total transactions. The highest deal was worth QR19m through the sale of a plot admeasuring 3,489sqm at the rate of QR5,445 per sqm in Al Gharrafah. The acquired plots represented 76.4 percent of total transactions, worth QR71.9m, while other real estate deals were worth QR22.2m. Umm Salal Municipality ranked third in terms of value (QR64.6m), with 16 deals, representing 12.6 percent of total, down 24 percent compared to the previous week.
The Peninsula
