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Real estate deals in Qatar reach QAR3.4 billion

Oil price slump will not have direct impact due to strength of Gulf economies

The real estate sectors in the GCC countries witnessed a variation in performance during the month of October but remained at good levels, says a report.

In its monthly report about real estate markets in the GCC, Ezdan Holding Group notes that the slump in oil prices will not have a direct impact on the real estate sectors, due to the strength of the Gulf economies.

The report points out that the real estate sector in Qatar has witnessed deals worth QAR3.4 billion compared with QAR2.3bn for the month of September, achieving a growth rate of 47.8 per cent, reports Qatar-based Raya.

When compared with the same period last year, real estate deals in Qatar saw a decline of 24.4 per cent, as the value of deals in October 2014 reached roughly QAR4.5bn, adds the report.

Ezdan Holding Group’s report says that the real estate sector index in Qatar Exchange witnessed a rise during October 2015 by 4.6 per cent, as the index gained 121.19 points, registering 2784.08 points on the last day of October compared with 2662.89 points on the last day of September.

(QAR1 = AED1.01, at the time of publishing)