Huge rise in property sales

June 05, 2014 - 6:32:06 am

DOHA: Real estate sales peaked at a historic high recently, with transactions totaling QR2.3bn in the last week of May (May 25 to 29), up a huge 63.8 percent over the previous week.

Real estate giant, Ezdan, said in a report that a total of 388 transactions took place in the week, with the maximum being in Umm Salal Ali, at 197. Ezdan didn’t give reasons for the huge rise in transactions but said five massive deals worth QR900m concluded in the week took the total of QR2.3bn.

The largest deal worth a staggering QR290m was concluded in Umm Salal Ali. It was a plot land admeasuring a huge 145,000 sq meters. The second largest deal was concluded in Doha with the value of QR250m. 

The Peninsula

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