The Peninsula Highlights Growth, Prosperity of Real Estate Sector in Qatar
23 February 2021

The Peninsula Highlights Growth, Prosperity of Real Estate Sector in Qatar

Doha, February 23 (QNA)- The Peninsula English newspaper highlighted in its editorial Tuesday the growth and prosperity of the real estate sector in the State of Qatar, due to the positive developments in the recent period, such as the ongoing COVID-19 vaccinations, regional ties coming back to normal with the lifting of the blockade and winning the bid to host Asian Games in 2030. The newspaper said that amid more opportunities in the market and increased inflow of workforce, there seems to be a upturn in the demand for residential housing, providing a much-needed fillip to the sector. Around 8,200 residential units are expected to enter market this year, offering more choices to homebuyers, the paper added. Qatar is also experiencing increased real estate transactions, as during the last six months, the value of real estate deals exceeded QR15 billion, and the volume of real estate transactions during 2020 was QR31 billion compared to QR22.8 billion in 2019, the newspaper said. The Qatari daily said that projects such as The Qetaifan Island and Lusail Seef are attracting considerable interest from buyers as well as investors, with Qatar opening its property market to foreigners. The Peninsula newspaper concluded its editorial by referring to the government's important announcement of the decision to allow foreign companies and individuals to own real estate in 25 areas in the country, noting that with this move, the sector has become more accessible to a wider pool of investors. (QNA)