Complex Made Simple

Qatar’s real estate deals increase 48 per cent in H1

Commercial office sector witnesses decline in demand, attributed to absence of new projects and stability of rents

The total value of real estate deals in Qatar during the first six months of 2015 amounted to $9.8 billion, says an expert.

Dr R Seetharaman, the chief executive officer of Doha Bank, adds that this figure represents an increase of 48 per cent, equivalent to the value of $6.6bn, compared with the value during the same period of 2014, according to the Qatari newspaper Al-Raya.

He points out that the commercial office sector is witnessing a decline in demand, attributing this decline to the absence of new projects and the stability of the rents in the commercial real estate sector.

Also, the increase in population contributed to the continuous growth in demand for non- residential properties, adds Seetharaman, pointing out that the population grew by nine per cent during the last twelve months, up to the end of May 2015.

The real estate sector’s loans in Qatar rose to 4.6 per cent in the first half of 2015 and local currency loans in the real estate sector rose from 89 per cent of the total loans in December 2014 to 93 per cent of total loans in June 2015.

($1 = AED3.67, at the time of publishing)