Doha: Buildings of all types including residences, residential buildings and complexes have formed the chunk of the weekly property sales market generating up to QR284m, or 60.6 percent of the total sales volume in Qatar, while land lots generated up to QR184.4m, or about 39.4 percent of the total sales, said Ezdan Real Estate report which was sponsored by SAK Partnerships.
According to data gleaned from the real estate bulletin released by the Real Estate Registration Department from February 14-18, the registered property sales generated a total value of QR468.4m and the operations were distributed among 7 municipalities including Umm Salal, Al Khor, Al Dhakhira, Al Doha, Al Rayyan, Al Shamal, Al Daayen, and Al Wakra.
The deals clinched included the sales of vacant lands, residences, multi-use buildings, multi-use land lots and residential buildings.
Al Rayyan Municipality acquired the highest deal in terms of value through the sale of a vacant land lot in Muaither area, at a value of QR52m. The land extends over an area of 19,419sqm at QR2,678 per square foot.
The report also referred to the rental rates of Ezdan Real Estate Company’s Musheireb Towers, which is one of the most important residential projects in the country with 803 residential 2-bedroom units. The monthly rent for a furnished apartment starts at QR3,900, while the monthly rent for an unfurnished apartment starts at QR3,750.
Ezdan report also highlighted the smart real estate product “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 helps landlords of vast or small land lots in developing real estate projects such as 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, as well as secures funds for undertaking the project and construction in a record time at a prime cost. This saves 40 percent of the total cost of the project for the landlord, in return for a stake equivalent to one third of the project for SAK.
Ezdan Real Estate Company runs more than 22,800 residential units, and around 790 commercial units inside Doha and its environs, including Al Wakra and Al Wukair. The company continues to invest in the real estate sector and contribute to real estate development in Qatar.
