Ezdan Holding Group has reported that Qatar's real estate sector recorded a 30.5% growth last month in terms of number of transactions, despite the summer season slowdown.
In mid-June this year, Ezdan reported that the rise in transactions was pumped in by 141 deals worth QR1.310bn or a daily average of QR262mn compared to the 108 deals from the previous week.
The report also noted that despite the 29.7% decline in the value of transactions from QR1.9bn in the previous week to QR1.3bn, revenues worth QR262mn compared to QR373mn of the previous week were still above the weekly average recorded since the beginning of 2014.
The Al Mirqab area secured the highest deal at QR250mn while Doha topped the transactions of the week by 70.3% from 28 deals worth QR921.2mn.
Ezdan said diversified real estate recorded the sale of 19 villas, 14 houses, 11 residential buildings, one residential compound, and a kindergarten. Al Daayen Municipality ranked in the largest number of transactions with 33 deals acquiring 23.4% of the total transactions.
While Doha Municipality emerged remarkably with 28 transactions, diversified real estate took over contrary to previous weeks where land lots used to dominate the transactions and represented 55.2% of total deals compared to 44.8% of land lots over all areas.
The report predicted a rise in property transactions in the coming weeks, especially in the land lots sector. It also noted that investors and real estate developers are directed towards the establishment of more new real estate projects.
For the same period in June, Doha Municipality ranked first in terms of transactions with deals worth QR921.1mn compared to QR924.4mn in the previous week.
Despite the slight decline of 0.3% through the implementation of 28 transactions compared to 30 deals in the last week, it still acquired 70.3% of the total transactions of the week.
Doha Municipality's top transaction was the QR250mn deal from the sale of a 1,656-sqm land lot in Al Mirqab at QR151,000 per sqm, among other property units.
The land lots transactions dominated the deals by 36.4% of the total Doha transactions worth QR335.1mn while other real estate represented 63.3% worth QR586.1mn.
Al Daayen Municipality ranked second in terms of trading value with QR117.4mn – a 100% rise, which acquired 9% of the total transactions from 33 deals.
The highest deal in Al Daayen was QR27mn from a 10,500-sqm land lot in Al Kheesah. The acquired lands represented 96.5% of the total transactions in the municipality at QR113.3mn while the value of other real estate was worth QR4.1mn.
Al Wakrah Municipality ranked third in terms of real estate value traded worth QR85.7mn during the last week from 18 deals, which represented 6.5% of overall deals or a 59% rise compared to the previous week.
The highest deal in Al Wakrah reached QR53.5mn from a kindergarten in Al Thumama measuring 13,933 sqm at QR3,840 per sqm. The acquired land space represented 30.7% of the total transactions executed at the municipality worth QR26.3mn while the value of other real estate stood at QR59.4mn.
Al Rayyan Municipality came in fourth place in terms of transactions executed worth QR72.5mn compared to QR761.2 million in the previous week, a record decline of 90.5%. The municipality implemented 23 deals and took 5.5% of the overall transactions. The highest deal in Al Rayyan was valued at QR6.5mn from a 1,338-sqm residential house in the Fareej Al Murrah area at QR4,858 per sqm, among other properties.
In Al Rayyan, land deals acquired 53.2% of the transactions worth QR38.6mn while the rest of the other deals were recorded at QR33.9mn.
Umm Salal Municipality came in fifth place in terms of transactions executed worth QR68.6mn representing 5.2% of the total transactions from 23 deals, posting a 27% rise compared to the previous week.
The value of the highest deal in Umm Salal was QR10.2mn from a 4,159-sqm villa in Al Kharaitiyat at QR2,304 per sqm, among other properties. In Umm Salal, land deals acquired 67.5% of the transactions worth QR46.3mn while the rest of the other deals generated QR22.3mn.
Al Khor and Al Thakhirah Municipality was sixth place in terms of transactions value worth QR38.4mn, a record 228% rise compared to the last week. The value of the highest deal in the municipality was worth QR9mn from a 2,909-sqm residential compound in Al Khor area at QR3,094 per sqm.
The acquired land space represented 57.2% of the total transactions in the municipality valued at QR22mn while the value of other real estate reached QR16.4mn, representing 42.8%.
Al Shamal Municipality came last in terms of transactions executed at QR5.7mn from five deals or a record rise of 375% compared to the previous week. The municipality acquired 0.5% of the overall deals of the week.
The value of the only deal in Al Shamal was QR1.8mn from the sale of a 1,008-sqm land lot in Al Ruwais area at QR1,786 per sqm. The acquired land represented 100% of the total transactions in Al Shamal Municipality.
In terms of total transactions during the week in all regions, land lot transactions acquired 44.8% of the total property transactions or QR587.3mn.
Gulf Times
31 July
