Qatar's real estate market activity has gathered momentum, thanks to a number of hefty property sale deals that contributed robustly to the rise of real estate price index, notably in Doha and Al Rayan Municipalities.
The deals in these two municipalities exceeded the threshold of QR100m in the past week, triggering a stability of realty price index at its record levels.
This comes in line with the second phase of easing down the lockdown restrictions imposed during Coronavirus “COVID-19” fallout, according to Ezdan Real Estate report.
In light of the breakdown of real estate activity during the period from 14-18 June 2020, the Real Estate Registration Department has registered 128 property sale deals worth an aggregate value of approx. QR 801.4mn, and they were distributed over 7 municipalities; namely Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra, and entailed vacant land lots, residences, multi-use buildings, multi-use vacant land lots, and residential buildings.
Doha Municipality ranked first in terms of highest deal value by selling a residential tower in The Pearl spanning over an area of 5610 square meters, at a price per square foot that reached QR3146, with a total value of QR 190mn, while Al Rayyan Municipality has seen a sale deal of a multiuse land lot in Muaither spreading over an area of 7857 square meters.
The deal was clinched at QR1286 per square foot, totaling QR108.7mn. Doha Municipality also witnessed the third largest property sale deal for a multi-use land lot in Musheireb over an area of 2658 square meters at QR2469 per square foot, totaling QR70.3mn.
