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Doha, Qatar: Qatar’s future property market is poised to remain stable with top-notch projects and events in the years ahead.
A report by Hapondo notes that the outcome of the industry will vary on several forces including business activity, and expansion, population growth, foreign investor’s appetite, and unlocking local capital.
New prime residential products and marketing programs are vital to attract buyers and investors in the country. Major projects including Gewan Projects and Qateifan Island will help attract more investors to the region.
However, in the buyer’s market, the broker’s rule is significant, Hapondo states. For stable growth and to implement international projects swiftly across the country, the buyers will require brokers who can provide sufficient advice on real estate decisions and not merely transactional support, across a varied spectrum of the real estate market.
The report highlights that the residential expansion in the outskirts of Doha will likely be positive for commercial real estate including the retail industry in particular.
With the limited demand in office spaces across the country, it will continue to be the tenant’s market for a while as flexible working hours for employees are posied to offer quality services and will constantly attract largely small tenants including the start-ups and professionals in renowned companies.
In the hospitality sector, more five-star and four-star hotels will be seeking long-staying guests, potentially competing with prime apartments.
Current and upcoming events such as Expo Qatar and AFC Asian Cup along with other global activities boost the tourism market and will positively impact the country eventuating foreign investments and business projects.
Hapondo underlines that in the short-term, a correction in the market was also witnessed since the World Cup in Qatar concluded and will continue for a longer period. Investments carried out as a result of the mega sporting tournament were not immediate as it caught the attention of global buyers. However, the decisions to invest in Qatar vary per investor after looking into factors such as numerous benefits in the country.
