File photo of Pearl Qatar used for representation
Doha: FIFA World Cup Qatar 2022 will give Qatar a unique platform to showcase the country to a broader audience and investors. The growth momentum of the Qatari real estate market is picking up and attracting investors and buyers, discussed experts during an online event.
Doha Bank organised a webinar entitled ‘What lies ahead for Qatar’s residential Real Estate Market in 2022 and beyond’ which discussed the changes in the residential real estate landscape in Qatar and the key trends for the year ahead.
Addressing the event, Shareef El Baba, Deputy Head – Retail Banking, Doha Bank said, “We are witnessing a positive upturn in the residential housing in Qatar. Real estate housing projects are attracting interests from buyers and investors. With Qatar opening its property market for foreigners and involving buyers with permanent residencies, Qatar residential market is witnessing a move from a rental based real estate to a capital-based economy.”
Dr. Jeffrey Asselstine, Managing Director at Nelson Park Properties said, the year 2022 is a big opportunity as it is a fantastic time to showcase Qatar to the rest of the world. There has already been considerable travel to Qatar with people that have never been here before, and that will only escalate during the coming months for the rest of the year. A lot of television coverage of the country will also continue to attract a lot of attention to Qatar. This has been happening over the last few years with so many high-profile events, apart from the World Cup but in the coming months this will ramp up more and more.
Speaking about Qatar’s investment plan and the national vision, he noted, “Qatar National Vision 2030 has been there for years which makes us excited about the future. FIFA World Cup Qatar 2022 is a great catalyst for everything else that has happened in the country.”
Asselstine also shed light on the real estate residency investment and the excellent changes in the real estate laws in the country.
Property investment will continue to have a major positive affect on the country. "The new laws set in 2020 proved to be very positive with international investors both in Qatar and outside. Not only was the law received well but also the government’s implementation of the law was outstanding giving greater belief in investment opportunities that are available. The buyers have been Qatari nationals and expatriates and there has been major change that we have seen and going to see as the rest of this year goes on,” he added.
Dr. Jeffrey Asselstine said: “We believe that expatriate population will be buying more than they have in the past. So, I expect an overall percentage increase among the expatriate investors in coming months. The biggest thing we expect to see is expatriates that do not live in Qatar buying here. We are getting a lot more interest in people that are living in different countries (for example, Germany, England) and are looking at Qatar as an investment market. So, there is going to be a major change in the market as people are looking to invest here. We will see a much greater impact of expatriates particularly non-Qatar domicile expatriates that are investing in the country,” he added.
