DOHA: Qatar’s tourism sector is witnessing a remarkable growth and development across all levels, both in terms of legislations and infrastructure, bolstered by development plans adopted by Qatar National Tourism Council (QNTC). These factors contribute significantly to the hiking demand for residential and hotel units, which will have positive impacts on the real estate sector, Ezdan weekly report noted.
According to figures on number of visitors to Qatar, it has been reported that visitors from abroad received during the first ten months of the year (from January to last October) increased to 1.66m, nearing an annual growth of 13 percent compared to the same period in a year earlier, Planning and Statistics Authority revealed in a report.
This coincides with the opening of QNTC representative offices in the major exporting markets including United States, Britain, France, Italy, Turkey, Russia, India, China and Southeast Asia. In addition, World Tourism Organization (WTO) has declared Qatar in the eighth rank in openness index and the first in the Middle East.
The incessant growth seen in tourism and its positive outcomes on the real estate sector are affirmed by the government measures applied to facilitate visa procedures, which allow natives of more than 80 countries to enter Qatar without prior visa arrangements, in addition to increasing the overall occupancy levels in all hotels in variant rates.
With regard to real estate activity by value and the volume during the period from 15-19 December 2019, the Real Estate Registration Department registered 51 real estate sales transactions, with a total value of approximately QR 256.6m, and transactions were distributed over seven municipalities: Umm Salal, Al Khor, Al Dhakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra. The sales included land lots, residences, multi-use buildings, multi-use space, and residential buildings.
Doha Municipality domineered by the highest deal in terms of value by selling a mixed-use land lot in the Legtaifiya area on 14,180 square meters with a price per square foot that accounted for QR400, totaling QR 61.1m. Doha Municipality ranked the second in terms of deal value emanating from the sale of a residential building in Al Sadd area spreading over 2249 square meters, at QR 1239 square foot, totaling QR30m.
