Latest news with #TheSeef
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
Zawya
24-02-2025
- Business
- Zawya
Qatar: Lusail's construction projects worth $250bln in pipeline
Doha: Qatari Diar's flagship project - Lusail is expected to witness transformative development in the coming years; with an estimated amount of $250bn (QR910.12bn) to attract local and foreign investors. During a media tour, Khalifa Al Mana, Senior Manager, of City Control Center, and Smart Operations at Qatari Diar emphasised that the city serves as a cornerstone of Qatar's booming economy, a symbol of intelligent living, and a model for the nation's urban evolution and diverse cultural landscape. Speaking to The Peninsula, Al Mana noted that Lusail provides freehold properties and residency, all through a convenient one-stop service. 'Lusail's vibrant real estate market presents significant growth opportunities for investors, with the option of freehold ownership and residency in Qatar for buyers. Mortgage financing is available through top local banks, along with direct payment plans offering 0 percent interest on select properties from Qatari Diar,' he said. Meanwhile, investment opportunities in the accommodation sector came to around $12bn (QR43.69bn), contributing $29bn (QR105.57bn) towards the Qatari economy during recent years. Al Mana further briefed the press regarding Qatari Diar's plans and expansion projects in Lusail including The new Huzoom Lusail district, Qetaifan Island projects, The Seef project, Tarfat Lusail And Al Maha Island, and Meryal Waterpark. He said, 'Qatari Diar supports Qatar's national vision by contributing to the creation of a more prosperous, stable future across economic, social, and environmental sectors.' Qatar's real estate market was valued at $485bn (QR1.7 trillion) last year and ranks second in attracting foreign direct investments, following the energy sector. The industry has experienced notable growth in recent years, driven by increased demand for residential and retail spaces, rising visitor numbers, Qatar's hosting of major events, and developments in business and trade. Qatar is opening up new avenues for investment through updated property ownership laws for foreigners and changes to mortgage regulations, effective since 2023. Al Mana said, 'Our goal is to leverage our resources and expertise to ensure sustainable development, delivering high-quality projects with meticulous planning and innovative real estate solutions.' Qatari Diar is currently developing 50 investment projects across 20 countries worldwide, with a combined investment value of approximately $35bn. 'By integrating AI technologies and interactive applications, we aim to provide superior smart city experiences, enhancing both efficiency and sustainability, he said. The city also provides an ideal foundation for a tech-driven environment, creating an interconnected network of people, nature, and infrastructure, positioning it as a model sustainable city for the future, the official remarked. Al Mana highlighted Lusail's future-focused lifestyle JOEL JOHNSON THE PENINSULA DOHA: Qatari Diar's flagship project - Lusail is expected to witness transformative development in the coming years; with an estimated amount of $250bn (QR910.12bn) to attract local and foreign investors. During a media tour, Khalifa Al Mana, Senior Manager, of City Control Center, and Smart Operations at Qatari Diar emphasised that the city serves as a cornerstone of Qatar's booming economy, a symbol of intelligent living, and a model for the nation's urban evolution and diverse cultural landscape. Speaking to The Peninsula, Al Mana noted that Lusail provides freehold properties and residency, all through a convenient one-stop service. 'Lusail's vibrant real estate market presents significant growth opportunities for investors, with the option of freehold ownership and residency in Qatar for buyers. Mortgage financing is available through top local banks, along with direct payment plans offering 0 percent interest on select properties from Qatari Diar,' he said. Meanwhile, investment opportunities in the accommodation sector came to around $12bn (QR43.69bn), contributing $29bn (QR105.57bn) towards the Qatari economy during recent years. Al Mana further briefed the press regarding Qatari Diar's plans and expansion projects in Lusail including The new Huzoom Lusail district, Qetaifan Island projects, The Seef project, Tarfat Lusail And Al Maha Island, and Meryal Waterpark. He said, 'Qatari Diar supports Qatar's national vision by contributing to the creation of a more prosperous, stable future across economic, social, and environmental sectors.' Qatar's real estate market was valued at $485bn (QR1.7 trillion) last year and ranks second in attracting foreign direct investments, following the energy sector. The industry has experienced notable growth in recent years, driven by increased demand for residential and retail spaces, rising visitor numbers, Qatar's hosting of major events, and developments in business and trade. Qatar is opening up new avenues for investment through updated property ownership laws for foreigners and changes to mortgage regulations, effective since 2023. Al Mana said, 'Our goal is to leverage our resources and expertise to ensure sustainable development, delivering high-quality projects with meticulous planning and innovative real estate solutions.' Qatari Diar is currently developing 50 investment projects across 20 countries worldwide, with a combined investment value of approximately $35bn. 'By integrating AI technologies and interactive applications, we aim to provide superior smart city experiences, enhancing both efficiency and sustainability, he said. The city also provides an ideal foundation for a tech-driven environment, creating an interconnected network of people, nature, and infrastructure, positioning it as a model sustainable city for the future, the official remarked. Al Mana highlighted Lusail's future-focused lifestyle services including e-education, e-health, automated weather forecasting, and smart cards, among others. 'Businesses within the city will also benefit from smart access, control systems, and cloud-based services that support efficient, tech-enabled operations,' he added. The iconic city, which hosted the FIFA World Cup matches including the finals is one of Qatar's largest real estate projects, spans 38 million square meters, and represents a $45bn investment in infrastructure. services including e-education, e-health, automated weather forecasting, and smart cards, among others. 'Businesses within the city will also benefit from smart access, control systems, and cloud-based services that support efficient, tech-enabled operations,' he added. The iconic city, which hosted the FIFA World Cup matches including the finals is one of Qatar's largest real estate projects, spans 38 million square meters, and represents a $45bn investment in infrastructure. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
