Business News

Qatar- Weekly property sales reach QR1.02bn: Ezdan

(MENAFN – The Peninsula) The Peninsula

Doha: Qatar’s weekly property sales reached QR1.02bn from November 15-19, a remarkable rise which was dominated by building sales which generated QR580.2m, or 56.8 percent of the total sales volume, while the sale of vacant lands of all kinds reached QR441m, or 43.2 percent of the property sales, according to Ezdan Real Estate report, which was sponsored by SAK Partnerships. 

Citing the real estate bulletin released by the Real Estate Registration Department, the report added that the operations were divided into 7 municipalities including Umm Salal, Al Khor, Al Thakhira, Al Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra, which included vacant lands, residences, multi-use buildings, mixed-use space and residential buildings.

Doha municipality has seen the highest deal in terms of value by selling a residential tower at The Pearl, at QR356m. The tower spans over an area of 6,443sqm, sold at QR55,254 per square foot.

Al Wakra municipality also witnessed the sale of a vacant land lot at Al Mashaf area, at QR70m. The land area is 53,841 square meters, and the deal was clinched at QR1,300 per square foot.

Referring to the rental rates of Ezdan Real Estate Company, Musherib Towers, the report noted that a monthly rent for a furnished two-bedroom apartment now starts at QR3,900, while the monthly rent for an unfurnished two-bedroom apartment starts at QR3,750.

The report also highlighted the smar real estate project Sharekna, provided by SAK Partnerships as a solution for landlords of vacant land lots, enabling them to transform the lands into real estate projects that generate long-term gains. 

The project is suitable for developing a residential or commercial complex, building or tower, or even a hospital or school. Sharekna offers feasibility studies, licenses and good planning by specialised engineers and experts, and secures funds for undertaking the project and construction at a record time at a prime cost. 

Ezdan Real Estate Company runs over 22,800 residential units, and around 790 commercial units inside Doha and its environs, including Al Wakra and Al Wukair.

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