Doha, Qatar: The rents of marts across the country witnessed a subtle decrease during the first three months of the year, having returned to the same price range during the third quarter of 2023, noted market experts from Qatar’s e-realty platform, hapondo.   However, the average asking rents climbed up during the fourth quarter of 2023 in many of Qatar’s retail areas. Researchers state that the majority of the retail shops noticed a decline from QR214 per sqm to QR 182 per sqm from January to March 2024. According to analysts, key commercial localities such as Al Sadd, witnessed a fall in the average rent for two consecutive quarters and amounted to QR157/sqm in Q1. The Peninsula spoke to a number of shopkeepers to understand how the rental decline would impact the…

Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani chaired the Cabinet's regular meeting held at its seat at the Amiri Diwan on Wednesday morning.     After the meeting, HE Minister of Justice and Minister of State for Cabinet Affairs Ibrahim bin Ali Al Mohannadi issued the following statement:   At the outset of the meeting, the Cabinet extended sincere greetings to HH the Amir Sheikh Tamim bin Hamad Al-Thani on the advent of Eid Al Adha, asking Allah Almighty to return this blessed occasion for His Highness with the best of health and wellness, and for the State of Qatar and its people with further development and prosperity under the wise leadership of HH the Amir, as well as the Arab and Islamic nations with…

Doha, Qatar: A new guideline to clarify rights and duties of landlords and tenants will be issued soon, said a top official.   “In this guide, we explain the legal rights and duties entailed by rental contracts, in addition to the financial rights and duties of the beneficiaries,” said Rosa Al Shammari, Head of the Office of the Rental Dispute Resolution Committees Headquarters at the Ministry of Municipality. Speaking to Qatar TV recently, she said that the guide will simplify further the procedures and cover all clients of the office. Al Shammari said that lease contracts of residential buildings and commercial facilities are on the same pattern as per the provisions of the Decision No. 1 of 2020. To a question about the mechanism for receiving complaints related…

Qatar’s real estate market is poised to benefit in the long-term, driven by several infrastructure projects and developments, expansion of the industry across the country, and investment-friendly initiatives implemented by the government.     There has been a significant growth in the value of mortgage transactions across all asset classes, growing by 89 percent on quarter-on-quarter (Q-o-Q) basis and 36.8 percent on year-on-year basis (YoY), according to Real Estate Research First Quarter (Q1) 2024 by ValuStrat, released yesterday.   In the first quarter of 2024, the Qatar real estate market witnessed 236 mortgage transactions across all asset classes of ready properties. The total sales value attributed to mortgage transactions stood at QR16.8bn, an increase of…

The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in April amounted to QR811,561,323.   The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 201 real estate transactions were recorded during the month.   Doha, Al Rayyan, and Al Wakrah municipalities topped the most active transactions in terms of financial value in April, according to the real estate market index, followed by Al Dhaayen, Umm Salal, Al Khor and Al Dhakira, and Al Shamal.   The real estate market index for April revealed that the financial value of Doha municipality’s transactions amounted to QR282,847,223. The financial value of Al Rayyan municipality’s…

Real estate prices in Qatar have dropped to their lowest level in recent years following four consecutive months of decline, according to a new report.     The country’s Real Estate Price Index, compiled by the Qatar Central Bank, stood at 202.43 in April 2024, the lowest since earliest available data in January 2020, data published by the banking authority showed. The index had previously dropped to its lowest in February 2021 at 202.5.   The index, which is based on the figures provided by the Ministry of Justice, also posted a decline for four consecutive months, falling from 225.12 in December 2023 to a little over 202 in April. Given the decline in prices, Qatar-based real estate marketplace hapondo noted that the Qatari real estate market is likely to…

volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice during the period from 28 April to 2 May 2024 reached QR, 247,261,294.   Total sales contracts for residential units in the Real Estate Bulletin for the period from 28 April to 2 May 2024, is QR, 44,144,614.   The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale has included vacant lands, houses, Residential Buildings, Commercial Residential Building and Shops, Residential Units.   Sales were concentrated in, Doha, AL Rayyan, Al Daayen, Al Wakrah, Umm Slal, Al Khor and Al Dakhira, Al Shamal, municipalities, and in the Pearl Island, Al Dafna 60, Lusail 69, Legtaifiya, Zones.  

Doha, Qatar: Ezdan Real Estate announced the opening and lease of second phase at Al Janoub Gardens Residence, yesterday. Following the complete leasing of all 880 units in its first phase, the company has launched the second phase of Al Janoub Gardens Residence project, which comprises approximately 775 residential units of varying sizes.   Addressing a press conference, Deputy CEO of Ezdan Holding Group, Hani Dabash highlighted the overwhelming demand and popularity the project has received, particularly for its modern amenities and lifestyle offerings, including a central garden featuring children’s play areas and lush greenery, which facilitated the rapid lease-up of the first phase.   Al Janoub Gardens Residence is among the company’s key developments,…

Doha, Qatar: The new real estate registration law has been issued to keep pace with latest developments and use information technology in providing services, said a top official.   “The Law No. (5) of 2024 for regulating real estate registration stipulates that the Real Estate Registration Department can provide its services completely electronically,” said Director of the Real Estate Registration Department at the Ministry of Justice Amer Al Ghaferi.   Speaking to Qatar TV recently, he said that it will ease the services provided by the Department to citizens, expatriates and the entire real estate sector.   “Now we are providing services through SAK application which requires the applicants to visit the headquarters of the Ministry of Justice for…

To finish the process of implementing the new law’s provisions, the Ministry of Justice (MoJ) is drafting the executive decisions and regulations of Law No. (5) of 2024, which governs real estate registration. Saeed Abdullah Al Suwaidi, the MoJ’s Assistant Undersecretary for Real Estate Registration and Documentation Affairs, explained that this is part of the ministry’s efforts to modernize the legal and service system and to carry out the wise leadership’s directives to speed up transactions and services provided to citizens and residents. It also aims to raise the standard of services provided by government authorities, including the initiation of digital transformation initiatives. According to him, the law has entirely created several new provisions for real…

Doha, Qatar: The Commercial Avenue Company has signed a long-term lease agreement with Retaj Real Estate for 232 residential apartments in the ‘Jeera’ residential buildings, comprising one, two, and three-bedroom units.   Fahad Abdullatif Al Jahrami, Chairman of the Board at The Commercial Avenue Company, signed the agreement and stated, “This agreement is a significant milestone in enhancing Qatar’s real estate landscape. We are dedicated to delivering exceptional value, and this partnership exemplifies our commitment to excellence.”   Abdulla Abdulrazzak Haidar, Chief Executive Officer of The Commercial Avenue Company, commented that the new contract underscores the company’s significant impact on the Qatari real estate…

Doha, Qatar: Qatar has seen tremendous growing demand for residential properties in recent months as industry leaders note many new projects are in the pipeline for the current year.   Speaking to The Peninsula, Anum Hassan, who leads the Research team at ValuStrat said: “Rents decreased by 7 percent per year by the end of 2023, and there was no change in Q4 of that year. Over 6,000 units are in our pipeline for 2024, and most of them are planned apartment buildings.”   The market expert highlighted the post-FIFA fluctuation in the residential market, which saw a fall in rental prices across the country.   “After the World Cup 2022 concluded, we witnessed a significant decline in occupancy during the first half of 2023w. Rents thus decreased by 5…