Latest news with #AnumHassan
Zawya
17-03-2025
- Business
- Zawya
Qatar: Government strategies aim to enhance industrial sector by boosting SMEs
Doha, Qatar: The government's recent strategies to prioritise sustainable goals and bolster SMEs to expand their presence are poised to enhance the industrial sector in Qatar over the coming quarters, stated Anum Hassan, Head of Research at ValuStrat Qatar. Qatar has unveiled several key initiatives in the industrial sector in recent years, aimed at diversifying the economy, promoting sustainability, and fostering growth in line with the National Vision 2030. The Ministry of Commerce and Industry (MoCI) introduced Qatar's National Manufacturing Strategy, emphasising sustainable development, economic diversification, and the promotion of small and medium-sized enterprise (SME) growth, all aligned with the goals of the National Vision 2030. This strategy aims to position Qatar as a global hub for manufacturing excellence, contributing to the nation's long-term economic goals. Qatar introduced various incentives to attract both domestic and foreign investments in the industrial sector. These incentives include tax exemptions, financial support, and facilitation of land access for industrial projects, encouraging companies to establish and expand operations in Qatar. Qatar has been investing in the development of industrial zones, such as the Qatar Industrial Zone, to support manufacturing and other industrial activities. These zones provide infrastructure, logistical support, and regulatory frameworks designed to streamline the growth of industries like chemicals, steel, and heavy manufacturing. The country is also promoting the use of advanced technologies in the industrial sector, including the adoption of digitalization, automation, and smart manufacturing processes. These technologies are aimed at increasing productivity, enhancing competitiveness, and driving innovation across industries. These initiatives are aligned with Qatar's goal to diversify its economy away from oil and gas dependence and to establish a robust and competitive industrial sector that contributes to economic stability and growth. However, a recent data by ValuStrat shows that in the fourth quarter of 2024, the industrial sector experienced some adjustments, with rents for ambient warehouses and temperature-controlled facilities dropping by 7 percent and 1.2 percent quarter-over-quarter, respectively. According to the latest NPC data, the Industrial Production Index (IPI) with a base year of 2018=100, was recorded at 103.6 points. The foreign merchandise trade surplus reached a total of QR17.7bn, reflecting a significant positive balance in the country's trade of goods with international markets during the reported period. Over the course of the year, a total of 1,461 new industrial firms were established, contributing to an overall production value that exceeded QR2.6 trillion. This achievement represents a 3 percent year-on-year increase, highlighting the growth and expansion of the industrial sector. Qatar Maritime reported 261 vessel callings in December across Hamad, Doha, and Ruwais ports, marking a notable 17% year-on-year increase in port activity. Through out the year, more than 2,500 ships docked at these three ports, collectively handling over 1.3 million TEUs (Twenty-foot Equivalent Units) of container cargo, showcasing a strong performance in maritime trade. On the real estate front, the monthly median asking rent for ambient warehouses dropped by 7 percent quarter-over-quarter, settling at QAR 34.4 per square meter, which represents a 9.1% decrease compared to the previous year. Similarly, the monthly median rent for cold storage facilities saw a slight decline of 1.2 percent on a quarterly basis but experienced a 1.1 percent increase on a yearly basis, reaching QR42.7 per square meter. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
12-03-2025
- Business
- Zawya
Qatar sees strong residential performance in Q4 2024
Doha, Qatar: Qatar witnessed a positive and strong residential performance in the fourth quarter (Q4) of last year. The total residential stock during Q4 2024 was 399,542 units, comprising 251,513 apartments and 148,029 villas. An estimated 3,000 apartments and 100 villas were delivered during the quarter. The notable additions included 930 units across The Pearl's Giardino, Floresta, and La Plage South, along with 742 units delivered in Lusail Marina. The luxury waterfront townhouses were launched in the fourth quarter by Qatari Diar at The Seef and also the Barwa Real Estate Group launched the first phase of Barwa Hills in Lusail with 57 one-bedroom units, according to Q4 real estate research released by ValuStrat, yesterday. The fourth quarter outperformed previous periods, particularly in the residential sector, while other segments remained stable or saw corrections, Anum Hassan Head of Research in Qatar at ValuStrat said. A similar upward trend persisted in high-end districts, though this time concentrated among smaller one- and two-bedroom units. Notably, modest increments trickled into inner Doha as well. Meanwhile, mortgage transactions surged in the final quarter of 2024, nearing a 200 percent Year on Year (YoY) increase, she added. In Q4, villa sales volume saw a substantial quarterly rise of 33.7 percent, while maintaining stability on an annual basis. The median ticket size for housing units was QR2.6m, a decline of 1.9 percent Quarter on Quarter (QoQ) and 3.7 percent YoY. Meanwhile the highest transaction activity was recorded in Doha and Al Rayyan. The Pearl Island and Al Qassar saw sales volume rise by 34.3 percent QoQ, leading to a 37.2 percent increase in value. The median monthly rent for residential apartments held steady quarterly but fell 3.7 percent YoY Apartment monthly lease values stabilised at QR6,000 since last quarter, reflecting a 6 percent annual drop. For one-bedroom apartments, the median monthly lease rate was QR5,250, for two-bedrooms QR6,250, and for a three-bedroom QR8,000. Rents in The Pearl and Lusail rose by 1 percent, driven by higher rates for one and two bedroom units, while Al Muraikh, Al Mansoura, Al Wakrah, and Fereej Bin Mahmoud saw increases of up to 5 percent. Over 15,000 apartment rental contracts were signed in Q4, marking a 12 percent QoQ increase while remaining stable yearly. With 95 percent of contracts being new agreements, this suggests a high level of tenant mobility within the country. Al Wukair, Al Mashaf, and Al Thumama cumulatively were the top contracted areas with 4,529 leases, measuring an increase of 27.5 percent since last quarter. In case of villas median rent remained stable both quarterly and annually. Rents in Al Muraikh and Al Gharrafa fell by up to 5 percent QoQ, while other key areas remained unchanged. The median monthly rent for a three-bedroom villa was QR11,500, for a four-bedroom QR12,250, and for a five-bedroom QR13,750. Around 5,500 villa lease contracts were signed during Q4 2024 reflecting an increase of 3 percent QoQ and 8.5 percent YoY. New tenancies accounted for 88 percent of the total agreements In the fourth quarter of 2024, the Qatar real estate market witnessed 330 mortgage transactions across all asset classes of ready properties, an increase of 32 percent QoQ and 26 percent YoY. The total value attributed to mortgage transactions reached QR25.2bn during the quarter, reflecting a notable surge of 172.3 percent YoY. Doha recorded 95 deals worth QR16.4bn, the highest transaction value in five years, while Al Rayyan saw 96 transactions totalling QR5.4bn. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
