DTZ Qatar announces that the company has valued over $60bn of RE assets in the last 12 months, 70% of which were for loan security purposes providing a strong indicator of a thriving market.
DTZ Qatar values assets across the MENA region, while most are in Qatar. The highest valued asset was valued at circa $4bn in Doha. In the previous 12 months the company’s valuation department valued assets totaling $49bn. This spike in loan requests in the real estate market has led DTZ Qatar to expand its valuation team to maintain pace with the growing demand.
Edd Brookes, General Manager of DTZ Qatar in Doha, stated, “Valuation is a core skill line within DTZ Qatar. Under Adam Stewart’s diligent stewardship our Valuation Department provides first class and impartial valuation reports to our wide range of clients throughout the Gulf region. We have recently brought in two newly graduated surveyors and are coaching them through their professional exams. It is important to us that our team members are properly qualified in the field to uphold our reputation for international best practice allied to a deep understanding of our regional markets.”
Adam Stewart, Associate Director, Head of Valuation Advisory in DTZ Qatar commented, “Strengthening the team allows us to uphold the high level of client servicing that we pride ourselves in delivering. Providing accurate, thorough and credible information and analysis is a significant factor in ensuring the sustainable growth of Qatar’s real estate sector.”
Stewart says that the increase in valuations is attributed to many factors.
He continued: “Job creation in the non-hydrocarbon sectors, particularly in the construction and infrastructure and retail service sectors, has led to an increase in population which in turn has led to higher demand for commercial and residential real estate development. According to the Qatar Central Bank Real Estate Index, the price of real estate has increased by 23.2% in the 12 months leading up to June 2015.”
DTZ Qatar is Qatar’s oldest established global real estate advisor.