Qatari realty sector poised for massive growth, says new report

Qatar's real estate sector will grow significantly in the coming years with several development projects being implemented across the country, according a new report by Al Asmakh company.

The real estate sector's growth, the report said, will lead to a rise in Qatar's population as more labour will be brought in by companies for carrying out the development projects.

"There will also be significant increase in activities of the real estate, retail and hotel sector. This will lead to greater competition among companies on project delivery," the report added.

The next two years will see the emergence of more small and medium-sized subcontractors in the real estate sector.

The report said the continued implementation of development projects will result in more partnerships and greater investments.

There will be trade opportunities between local and global companies in various sectors such as property, finance, retail and leisure sectors.

The report said Qatar is working to diversify its economy and promote the growth of service sector.

There will be more supply of residential units with the completion of new development projects and owners of properties that do not have modern facilities may go for development, it added.

The report said availability of more residential units and improvement in service levels now offer tenants with diverse set of options — space, quality, interfaces and facilities.

The report said the country's economy will continue its positive performance this year.

Courtesy: Qatar-tribune.com