Qatar's weekly property sale reaches QR469.8m: Ezdan Real Estate report

October 28, 2020

Doha: As many as 155 property sales have been completed with a total value of QR469.8m from October 11-15 in Qatar, with building sales dominating the market at 59.3 percent of the total sales volume, with a total value of QR278.5m, Ezdan Real Estate has said in its weekly market report, which was sponsored by SAK Partnerships.

Meanwhile, land lots of all types generated up to QR191.2m, or 40.7 percent of the total volume of property sales, the report added citing data from the Real Estate Registration Department. The sale deals are distributed over seven municipalities, including Umm Salal, Al Khor, Al Thakhira, Al Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra.

The sale deals covered vacant land lots, residences, multi-use buildings, mixed-use space and residential buildings.

Doha municipality ranked first in terms of the highest deal by selling a house in The Pearl, with an aggregate value of QR38.5m. The house spans over an area of 1,345sqm, which was sold at a price of QR2,659 per square foot. Doha also has seen the sale of a multi-use vacant land lot in Legtaifiya area at a value of QR25m, spread over 5,805sqm, with a price of QR400 per square foot.

The report also highlighted a number of milestone projects in the real estate sector. This includes the Al Rayyan Towers, which features 8 tower buildings with about 910 housing units spanning over an area of 150,000sqm.

The project provides 789 apartments and features two-bedroom furnished units with a rental price of QR4,500 per month and QR4,000 for non-furnished; about 21 apartments consisting of 3-bedroom units with a monthly rental at QR6,000, about 80 apartments consisting of one-bedroom units with a monthly rental of QR4,000, and a 4-bedroom apartment unit with monthly rental of QR6,500.

The report also highlighted the smart real estate project Sharekna developed by the SAK Partnerships, as a solution for landlords of vacant land lots, enabling them to transform the lands into real estate projects that generate long-term gains. The project is suitable for developing residential or commercial complex, buildings or towers, as well as hospitals or schools. Sharekna offers feasibility studies and good planning by specialised engineers and experts, and secures funds for undertaking the project and construction in a record time at a prime cost, without calculating any profit margin for SAK Partnerships. This saves 40 percent of the total cost of the project for the landlord, in return for a stake equivalent to one third of the project for SAK.

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