Doha: Qatar’s real estate sector outlook is promising as real estate trading in Qatar exceeded QR1bn during May according to data from the Ministry of Justice.
The real estate transactions during the four weeks of May reached over QR1.5bn. From May 29 to June 2, real estate transactions worth QR379m were signed. Doha Municipality came at top in terms of value and number of real estate transactions worth QR128m, while Al Daayen Municipality topped in number of transactions with 34 deals seen during the week, according to the Ministry of Justice data.
A week before, during May 22 to 26, real estate transactions worth more than QR431m were signed in the country. Al Rayyan Municipality came at the top in terms of real estate activities. Real estate deals worth QR169m were signed in 29 transactions in Al Rayyan Municipality.
The real estate trading volume also exceeded QR384m during the week of May 15 to 19, wherein real estate deals worth QR166m were signed in Municipality of Doha which claimed the top spot in terms of real estate deals after closing 39 transactions.
During the week May 8-12, total real estate transactions valued at more than QR301m were recorded in Qatar. Doha Municipality came at top in terms of value and number of transactions worth QR111m, and Umm Salal Municipality topped in number of transactions with 26 deals seen during the week, according to the official data.
The list of real estate traded for sale included vacant lands, residences, residential buildings and commercial buildings. Sales operations were concentrated in the municipalities of Al Rayyan, Doha, Al Dhaayen, Al Wakra, Umm Salal, Al Khor, Al Thakhira and Al Shamal.
In the previous month, in the week of April 24 to April 28, real estate deals worth QR569m were registered. Doha Municipality came at the top in terms of real estate activities. Real estate deals worth QR221m were signed in 46 transactions in this Municipality. More than QR207m of real estate trading volume from April 17 to April 21 was also recorded.
The momentum in the real estate sector has been growing gradually in Qatar. With a consistent fall in the cases of COVID-19 in the country, the economic activities have returned to normal.
