Al Asmakh Real Estate Projects Company report stated that the concerned authorities have reached advanced stages in implementing infrastructure projects in the areas located west of Qatar. These projects are concentrated in the areas of Bani Hajer, Rawdat Eqdeem, West Muaither, Al Sailiya, Rawdat Aba Al Hiran, Al Maarad, Al Nasiriyah, and Izghawa.
The report pointed out that the plots that were served in the western regions include a total of 1,015 plots, including 605 plots out of 805 plots within the road and infrastructure development projects in East Al Wajba, and about 410 plots within the Al Maarad and Southwest Al Muaither projects.
The report added: The western regions of Qatar are currently witnessing a significant impact in stimulating the real estate market through the completion of many real estate projects in the commercial, entertainment, hospitality, sports, educational, cultural and health sectors.
Explaining that the areas of western Qatar currently contain Mall of Qatar, Al Rayyan Hotel, Education City, Qatar National Library, and Sidra Hospital, in addition to enhancing the service aspect in this area through the new wedding halls building, as well as developing Ahmed Bin Ali Stadium (Al Rayyan) in this area. These areas have also been linked to modern transportation plans, as they contain a number of metro stations and a tram dedicated to Education City, which facilitates access to all service facilities.
The report indicated that road-related infrastructure projects also contributed significantly to linking the western areas of Qatar to the industrial area and downtown Doha, in addition to facilitating access from these areas to the areas located south of Doha via the Commercial Street and Barwa City, in addition to linking these areas to the Sixth Ring Road, Al Sabah Corridor, the Central Market Road and Mesaimeer Street.
The report indicated that these projects will enhance real estate activity in these areas and increase demand for land there.
The report also indicated that the concerned authorities have made advanced steps in developing a number of infrastructure projects, including the North Bani Hajer works packages, which aim to provide roads and infrastructure for approximately 1,727 plots of land with a total area of 3,946,000 square meters. In addition, the projects concerned with developing infrastructure in the western regions of Qatar extend to Rawdat Eqdeem, and among the projects in these areas is the road and infrastructure development project in Al Thameed and Rawdat Eqdeem, which aims to provide roads and infrastructure for approximately 1,268 plots of land with a total area of 3,941,807 square meters.
The report said: In addition to that, there is the North Nasiriyah Roads and Infrastructure Development Project, which aims to provide roads and infrastructure for about 825 plots of land with a total area of 1,950,368.3 square meters. In addition to the East Aziziyah Roads and Infrastructure Development Project to provide roads and infrastructure for about 420 plots of land with a total area of 828,300 square meters.
The report also indicated that the concerned authorities have made very advanced progress in implementing the road and infrastructure development project in West Muaither (Manaseer) and have completed major works, including the aim of providing roads and infrastructure for approximately 2,560 plots of land with a total area of 2,386,219.6 square metres, in addition to implementing the road and infrastructure development project in Al-Siliya, north of Salwa Road, with the aim of providing roads and infrastructure for approximately 831 plots of land with a total area of 1,462,472.7 square metres.
The report of Al Asmakh Real Estate Projects Company also indicated that the concerned authorities are also implementing the road and infrastructure development project in Rawdat Aba Al-Hiran with the aim of providing roads and infrastructure for about 2,600 plots of land with a total area of 5,325,748 square meters. In addition to implementing the road and infrastructure development project in Al-Maarad and southwest of Muaither with the aim of providing roads and infrastructure for about 3,716 plots of land with a total area of 7,984,370 square meters.
The report explained that the projects also include the road and infrastructure development project in Rawdat Iqdim and Izghwa, which aims to provide roads and infrastructure for approximately 890 plots of land with a total area of 2,039,346.8 square metres.
The report of Al Asmakh Real Estate Projects Company stated that these projects will contribute to the recovery of the real estate sector in western Qatar, especially in the areas where they are being implemented, which will contribute to enhancing the construction and building movement in those areas, and this will positively affect the activity of the real estate sector in those areas, and will also contribute to increasing demand for those areas.
He added that these projects will affect the rise in land prices and will contribute to the formation of new residential areas, which will positively affect the performance and work of real estate development companies and will enhance the growth of the real estate sector.
The report explained that projects in these areas are not limited to infrastructure only, as the concerned authorities are also implementing projects related to buildings such as schools, health facilities and mosques, which contributes to enhancing the activity of real estate development companies.
Land prices and transaction values
Al Asmakh Real Estate Projects Company report stated that the value of real estate transactions witnessed a high performance compared to the previous week, according to data from the latest bulletin issued by the Real Estate Registration Department at the Ministry of Justice for the week extending from “August 25 to 29.” The report indicated that the value of real estate transactions reached more than 242 million riyals. The report explained that the municipalities of Al Rayyan and Doha dominated the major activities in transactions in terms of the number of executed transactions and ranked first and second, respectively. The report indicated that the average number of executed transactions per day amounted to approximately “13” transactions. While the value of transactions on residential units amounted to more than 26 million riyals during the same period.
In terms of the prices per square foot of land on which deals were executed during the first week of September, the real estate index of Al Asmakh Company indicated that there was a variation in prices, explaining that the average offer price per square foot in the Mansoura and Bin Dirham areas amounted to 1,380 riyals, and in the Najma area it was recorded at 1,320 riyals per square foot, and the average price per square foot in the Maamoura area stabilized at 385 riyals, and the average price per foot in the Old Airport area stabilized at 870 riyals for buildings.
The Asmakh Real Estate Index also indicated that the price per square foot in the Aziziyah area was recorded at 365 riyals, while in the Umm Ghuwailina area it was recorded at 1,350 riyals per square foot.