The Al Asmakh Real Estate Projects Company report said: The state is currently continuing work to complete the implementation of projects for developing areas and citizens’ lands, and the value of the cash flows allocated to them is estimated at about 35 billion riyals to serve 33,413 plots distributed over 32 areas.
The report added that the competent authorities have taken advanced steps by completing thousands of residential plots in 12 regions of the country, where 7,833 plots have been served, and they belong to projects that, upon completion of all phases, will serve a total of 18,870 residential plots.
The report indicated that the vouchers that were served in the western regions included a total of 1,015 vouchers, in East Al Wajbah within the Al Maarad project and southwest of Muaither, while a total of 1,248 vouchers were serviced in the southern regions of South Al Mashaf, West Al Wakra and Al Mashaf West, and the concerned authorities also served a total of 5,570 residential vouchers. In the northern regions of Al-Ebb, Leabaib, Al-Kharaitiyat, Izghawa, north and east of Al-Kheesa, Al-Khor, west of Simaisma, and west of Umm Salal Ali, Umm Al-Abiria, south of Umm Al-Amad, north of Bu Fasila, and Umm Salal Muhammad.
The report confirmed that these projects will contribute to the recovery of the real estate sector significantly, and will positively impact the increase in real estate investment and construction activity in those areas. These projects will also contribute to increasing the demand for land in that area.
The report said: The concerned authorities in the country are continuing their work to complete the implementation of many road development projects, in addition to implementing a road development plan that includes converting roundabouts into intersections with traffic signals.
The report stated that these projects will contribute to supporting the real estate sector in these areas and will affect the movement of demand. These projects will also contribute to enhancing the work of contracting companies.
The report indicated that the concerned authorities will also complete a number of projects during the current year, including public, health, and educational projects, explaining that the sectors of building materials, cement, iron, and related services will benefit from the positive effects of the contracts awarded for these projects. These projects will also impose movement in construction work, which will be reflected in Positively for real estate development companies.
The report said: This reality, leading to a recovery in the building construction sector, will continue in the short and medium term, and coincides with the tendency of real estate developers and investors to expand their real estate investments during the next few years.
The report explained that the volume of spending on development projects in Qatar will enhance the growth of the building construction sector, which in turn will be reflected in economic growth, whether at the sectoral or aggregate level, and this is shown by the numbers of official local and international reports, which indicate that the building and construction sector has witnessed a boom.
Land prices and transaction values
Al Asmakh Real Estate Projects Company’s report said: The values of real estate transactions witnessed a high performance compared to the previous week, according to the data of the latest bulletin issued by the Real Estate Registration Department in the Ministry of Justice for the week extending from “last December 29 to January 2 of this year,” which recorded the number of real estate transactions “ 49 transactions. The report pointed out that the values of real estate transactions amounted to about 225 million riyals. The report indicated that the municipalities of Doha, Al Khor and Al Dhakhira had the largest activity in transactions in terms of the number of executed transactions and ranked first. And the second in a row. The report indicated that the average number of transactions executed per day reached approximately 10 transactions. While the value of transactions on residential units amounted to 10,570 million riyals, and they were implemented during the same period in Lagtaifah, the Pearl, Lusail, Umm Abiriyeh, and Ghar Tha’aleb.
Regarding the prices per square foot of land on which deals were carried out during the second week of January, the real estate index of Al-Asmakh Company indicated that it witnessed a variation in prices, explaining that the average price per square foot in the Mansoura and Bin Dirham area reached “1,380” riyals, and was recorded in The Najma area was “1,320” riyals per square foot, and the average price per square foot in the Mamoura area stabilized at “385” riyals, and the average price per foot in the airport area also stabilized. Al-Atiq at “870” riyals for buildings.
The Al Asmakh Real Estate Index also indicated that the price per square foot was recorded at “365” riyals in the Aziziyah area, while the price of “1,350” per square foot in the Umm Ghuwailina area was recorded.
The report said: The average price per square foot in the Al Thumama area was recorded at “400” riyals per square foot, and the average price per square foot of commercial space in the Al Wakra area stabilized at “1,450” riyals, and the average price per square foot was recorded for each of (Al Wakra / Buildings). And (Al-Wakrah / Villas), “590” riyals, and “275” riyals, respectively.
The Al Asmakh Real Estate Projects Company report said: The average price per square foot in the Al Wukair area was 210 riyals. The real estate index of Al Asmakh Company also showed that the average price per square foot rose in the northern Muaither region to record “300” riyals, and recorded “310” riyals in the Al Rayyan region.
The Al Asmakh report indicated that the average price per square foot in the Al Gharrafa area recorded “375” riyals, and the average price per square foot in the Al Kharaitiyat area recorded “380” riyals.