DOHA: Qatar’s real estate sector witnessed stability in terms of the volume of transactions during the third week of November (16-20), despite only 135 deals, down 11.7 percent compared to the previous week, according to Ezdan Holding Group’s weekly report.
This became possible due the execution of an exceptional QR236.8m deal for a 2,167sqm land in Old Al Ghani, sold at a rate of QR109,000 per sqm.
The combined value of transactions was QR902.6m, down 2.3 percent compared to QR923.7m worth of deals the previous week.
Al Rayyan Municipality witnessed the largest number of transactions — 30 or 22.2 percent of the total.
Al Daayen Municipality implemented 28 deals, including a majority of plot transactions — 77.1 percent of the total — compared to 22.9 percent of other transactions in all areas and municipalities.
The report said property deals will experience a rise in the coming weeks, especially in the land sector, noting that investors and developers are directed towards the establishment of more projects to meet the increasing demand for residential and commercial units generated by the economic growth Qatar is witnessing.
The report, based on the recent weekly bulletin issued by the Real Estate Registration Department at the Ministry of Justice, said the average daily value of deals amounted to about QR180.5m compared to QR184.7m the previous week.
Doha Municipality ranked first in terms of the value of transactions — QR363.3m — compared to QR287.8m the previous week, up 26.2 percent with 21 deals, compared to 35 the previous week, or 40.2 percent of total transactions.
Land plot transactions recorded 88.8 percent of total deals in Doha worth QR322.5m and other deals represented 11.2 percent, at QR40.8m.
Al Daayen Municipality ranked second with 22.3 percent of total deals. The trading value was QR201.2m for 28 deals, up 245 percent from the previous week.
The biggest deal in Al Daayen was worth QR50m — the sale a 16,560sqm plot in Alab at QR3,019 per sqm. Acquired lands represented 100 percent of total transactions in the municipality.
Al Wakrah Municipality ranked third in terms of value — QR134m, down 49.6 percent with 19 deals or 14.8 percent of overall transactions. The biggest deal in Al Wakra was worth QR27m — the sale of 20 villas, over 3,400sqm in Al Mashaf at QR7,941 per sqm. Acquired land space represented 17.9 percent of total transactions worth QR24m, while other deals generated QR110m. The Peninsula
