Turkish ambassador to Qatar H E Mustafa Goksu visiting the Turkish pavilion at Cityscape Qatar.
Doha: Cityscape Qatar, the country’s leading real estate investment, development, and networking event, has produced an increase in international interest amid a raft of new project launches, unit sales and growing demand.
H E Mustafa Goksu, Turkish Ambassador to Qatar, toured the Doha Exhibition and Convention Centre yesterday, visiting the inaugural Turkish pavilion to hear updates on the latest opportunities being offered in both Qatar and Turkey.
Şekib Avdagiç, President of Istanbul’s Chamber of Commerce said his country’s first participation at the annual real estate showcase was an unmissable opportunity for Turkey to highlight some of its new projects and attract international investment.
“Cityscape Qatar is a great opportunity for us,” he said. “For the first time, we are hosting a national pavilion made up of 14 investment and real estate companies all looking for opportunities. This platform is a highly important avenue for the promotion of Turkish real estate projects with the aim of attracting high net worth investors”.
The 10th edition of the three-day event showed that both inbound and outbound property investments are thriving in the region. Jamal Mourad, CEO of Bin Al Sheikh Real Estate Development said he saw heightened interest and sales on the first day across his residential and commercial projects.
“Part of our focus for the company is to rebrand and we now have some large-scale projects to showcase, which is why we decided to exhibit this year,” he said. “We are showcasing both our QR1.2bn Ramada project, as well as Ain Khalid Mall, which will open in two months. We are here to finalise reservations of 55 shops and a hypermarket. So far, we have sealed four deals, including a residential area of 70 villas, and we have met with experts from the real estate commercial sector who will support us with insight for our Ain Khalid project”.
Another sale was secured by local developer Mart Real Estate (MRE), said the company’s general manager, Zakaria Abdullah. “It has been a great start for us this year. Today, we managed to sell a full floor in our upcoming project Seville Residences, which is located in the Fox Hills district of Lusail City. We sold nine units to one buyer for a total of QR11.5m, reinforcing the current appetite for demand and confidence in the short to long-term rental market," he added.
Reinforcing this sentiment was Sana Kheir, Managing Director of Mayfair Property Group. “The lockdown slowed both business activity and investment in the real estate market,” Kheir said. “We felt that this edition of Cityscape Qatar was a perfect opportunity to get back out there and meet people since we are witnessing an increased appetite for investment in the market. Also, with the FIFA World Cup approaching, this will create momentum in diversified investment markets. Our greatest strength is that we are coming to the market with high-quality collaborations in different parts of the world and have seen heightened investment opportunities in locations such as the United States, United Kingdom, and the United Arab Emirates”.
Chris Speller, Cityscape’s Group Director added: “We are extremely excited to see such interest across all asset classes both locally and internationally. Cityscape Qatar has once again proven to be a catalyst for announcements, investment opportunities, and face-to-face meetings. The new product launches, onsite sales, and new signings are testament to the growth phase the Qatari real estate market is currently witnessing.”
