Qatar Review 2019-2020 Vision
REVIEW VISION Qatar www.valustrat.com ValuStrat Price Index - VPI Qatar Residential Base: Q1 2016 = 100 All prices are quoted in Qatari Riyal unless otherwise stated Sales and Rent performance are measured on quarterly basis while hotel performance are on yearly basis Q12019 REVIEW Review 2018 Residential • 2018 real GDP grew by 1.5% • 13,000 residential units projected to be completed in 2019, of which 3,000 were delivered • Qatar Central Bank increased deposit rates by 25 basis points each quarter to 2.5% by year end • Influx of supply induced landlords to offer rent-free period of up to 3 months and were common in Lusail, • 4,186 real estate transactions worth QAR 24.27B, per Al Wakrah, Al Sadd, The Pearl, New Doha etc Ministry of Justice • Geo-political situation adversely impacted tourism; resulting in 20% fall in visitors compared to 2017 VPI Residential Residential Sales Residential Sales Residential Median Capital Values Ticket Size Volume Monthly Asking Rent 73.4 2.5m 505 9,800 - QAR - QAR -2.2% -7.4% 10.7% -2.0% Hotel Q1 Q-o-Q Q1 Q-o-Q Q1 Q-o-Q Q1 Q-o-Q • Mandarin Oriental Doha, Dana Al Saad, VIP hotel, Dusit Doha and M Gallery were unveiled adding 1,070 Tourism keys • Total number of visitors increased by 10% YoY to 588,000 Office Median Monthly Asking Rent 98 Retail QAR/sq m • Average occupancy across malls was estimated at Economy 80% • Real GDP grew 0.9% YoY, as per Planning & Statistics -6.0% (PSA) Q-o-Q Legal • Government of Qatar passed a new law which legalised freehold ownership for various asset Office Warehouse Monthly classes (including shops, offices and residential villas Asking Rent • 1 million sq m GLA was projected to complete in in a compound) in 10 locations 2019, of which 200,000 sq m were completed 36 • Government also passed a law granting up to 100% QAR/sq m • Majority of the office demand has been generated by foreign ownership in investments across all sectors, existing companies looking for reduced rents and as well as providing entry support for new companies better incentives.
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