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Value of Qatar real estate deals soar 42.9 per cent

Sector in boom phase supported by the state development plans

The value of Qatar’s real estate deals during the first five months of 2015 rose by 42.9 per cent to QAR31.3 billion, compared with QAR21.9bn during the same period last year.

This represents an increase of 78.8 per cent, compared with QAR17.5bn during the same period in 2013, which reflects the upward trend in real estate deals in recent years, reports Qatar-based Al Sharq.

According to real estate experts, investors and businessmen, the real estate sector in Qatar is in a boom phase supported by the state development plans.

Real estate analysts predict that transaction values could rise in the first half of this year to QAR35bn.

The value of real estate transactions during the month of January 2015 reached QAR11.3bn, thus achieving an increase of 135 per cent, compared with QAR4.8bn in January 2014.

These figures are based on weekly reports issued by the Real Estate Registration Department at the Ministry of Justice.

Real estate experts and businessmen are optimistic about the real estate market, forecasting the upward growth trend to continue as the 2022 FIFA World Cup approaches.

(QAR1 = AED1, at the time of publishing)