Doha, Qatar: The market size of Qatar’s Commercial Real Estate is estimated to amount to $18.07bn (QR65.87) this year, according to a report by Mordor Intelligence, highlighting that it is anticipated to reach $26.01bn by decade-end, reflecting a compound annual growth rate (CAGR) of 7.56 percent during the forecast period.
As the country prepares for numerous infrastructure and construction projects in 2025, the state-of-the-art facilities and international events are poised to contribute heavily to the swiftly growing economy.
Qatar witnessed numerous projects in recent years including prime housing towers, the expansion of luxury hotels, and the hosting of several international events.
An official earlier told The Peninsula that the apartment rents across luxury residencies in Doha, West Bay, Msheireb, and Lusail among others have experienced a decline during the fourth quarter of 2024 when compared to the same period in 2023.
However, the country recorded a number of government and semi-government agencies that stated their intention to relocate to buildings that are in the iconic city of Lusail.
Experts point out that this will ultimately lead to buildings in other locations being vacated and note an increasing trend of office occupiers to newly emerging sustainable cities. Entities like the Qatar Financial Centre and the Qatar Free Zone Authority have been driving demand for office space in the private sector.
On the other hand, the data indicates that Qatar’s commercial real estate sector is undergoing major office expansion plans, minimal sales, and numerous deferments in leases. “Customers are deferring purchases across the sector, which may result in significant revenue disruption and reduced demand and realisations,” the report said.
Some of the key real estate players in Qatar’s commercial realty industry include the Barwa Real Estate Company, Ezdan Holdings, United Development Company, and Mazaya Qatar.
Industry leaders stress that there is a surge in market competition among online portals and real estate firms in Qatar.
