Qatar Real Estate Market Report in This Issue Issue No
Total Page:16
File Type:pdf, Size:1020Kb
H2 2019 TRENDSQATAR REAL ESTATE MARKET REPORT IN THIS ISSUE ISSUE NO. 4 - H2 2019 01 PROPERTY TRENDS 02 COMMUNITY SPOTLIGHT 03 CONTRIBUTORS 04 CONSUMER SEARCHES EXPLAINED 05 COMMERCIAL 06 WE ARE PROPERTY FINDER « There are many reasons for this optimism, which include an active real estate market, DEAR READER a progressive government that does not shy away from change and new laws for real estate ownership in the country. » The future of the real estate market has triggered interesting discussions over the past year, especially considering the current geo-political situation as well MESSAGE GROUP OPERATIONS FROM OUR DIRECTOR as the 2022 FIFA World Cup. I remain very optimistic about Qatar and all that it has in store for the future, not only in the real estate sector but across all industries as it gears up to host the 2022 FIFA World Cup. There are many reasons for this optimism, which include an active real estate market, a progressive government that does not shy away from change and new laws for real estate ownership in the country. Property Finder aims to be at the forefront of this renaissance. Our mission is to educate millions of property seekers about the real estate market so they are able to make well-informed decisions. Using our wealth of quantitative information, combined with vast data sets, we strive to create solutions and insights for all stakeholders in the market. And just like our previous reports, this issue of Trends covers the market in terms of supplying data on price trends, demand data and our contributors section, which includes articles from market leaders who continue to use Trends as a platform to voice their opinions on the industry. The real estate sector continues to be among the top performing industries in Qatar, contributing heavily to the country’s gross domestic product. The nationwide real estate price index rose by 1.56 percent (1.99 percent inflation-adjusted) during the year to Q2 2019, in sharp contrast to a y-o-y decline of 16.6 percent in Q2 2018, according to the Qatar Central Bank. Therefore, if you are in the market for the long run, do not be taken in by temporary highs or lows. Do adequate due diligence, identify a developer with a credible track record and deal only with certified agents. This is a good time to invest in real estate. We hope you find this report both beneficial and enjoyable, Monsi Rabah Group Operations Director 1 #PFTRENDSQA #PFTRENDSQA 2 CONTRIBUTORS Seran Gheorghe Jeffrey Asselstine Alex Ionescu Kirstine Basse General Manager Managing Director Head of Valuation and Advisory Services Partner Qatar Sotheby’s International Realty NelsonPark Property LLC MD Properties Property Hunter Background Background Background Background Seran has over 15 years’ experience as a leading broker in the Middle Jeffrey has over 18 years of experience in international banking Alex is an MRICS and registered valuer, with vast experience in the real Hailing from Denmark, Kirstine has long-term experience as East luxury realty market. His specialties include hotel acquisition and 29 years in property investment. He has been running his estate market in the GCC and Europe. an expat, living in the UK and Canada, and has a predominantly consultancy and selling and buying high-end properties in the Middle own businesses in Qatar since 2009. He graduated from Wilfrid financial, sales and marketing background. She started her East. On a global scale, his areas of expertise include litigation support, Laurier University in Waterloo, Ontario, in 1990. After leaving Takeaway career in Qatar in 2008 in the finance industry as a mortgage real estate investment advisory and commercial properties, with sales banking in 2008, Jeffrey formed the NelsonPark Group, with and investment advisor, pursuing her core drive and passion for amounting to over $1 billion throughout his career. He has significant three main companies, NelsonPark Property focusing on real Sustainability is playing an increasingly important role in today’s real real estate, which lead to a career path of property advisory. An experience in supporting global transactions in some of the world’s estate in Qatar, Quest Advisors, a firm created to help foreign estate industry. entrepreneur with over a decade of experience in the Qatar real largest markets, including New York, Miami, London, Ibiza, Bucharest, individuals and companies establish their businesses in Qatar, estate market trends, she co-founded Property Hunter Luxury Istanbul and Paris. and NelsonPark Advisors, a consulting firm assisting companies It is vital for all participants to be fully aware of the various ways that Real Estate in 2014, with the vision and drive to enhance real that need to raise finance globally. sustainability may impact values. The impact or potential impact estate advisory in Qatar and improve the quality of professional, Takeaway of sustainability should be considered at all times since issues independent, knowledgeable and specialised real estate Takeaway like legislation, public policy and fiscal measures may impact on a consultants to cater to clients’ searching for a new home. Branded residences are on the rise and very successful all over the property’s value. world and it is time to be part of Qatar’s real estate market as well. We It is important that buyers must know there are many options Takeaway at Qatar Sotheby’s International Realty are very excited to be part of to consider when looking to finance the purchase of your new the beginning of something this important, especially since we have home or investment. There are more options available to you One crucial aspect for all investments is to review your portfolio extensive experience internationally to deal with such products when it than just a straight cash or mortgage purchase. You may have with your dedicated advisor at least semi-annually to spot comes to sales. an opportunity to purchase a property that you did not think any trends early on. This will allow you to plan to exit when possible before. appreciation goals have been achieved in order to release capital to re-invest in better new national and international opportunities at the right time. Hani Dabash Ibtihel Hagui Property Management Director General Manager Nasseef Hydamous Engineer Nasser Al-Ansari Director of Operations Chairman Ezdan Real Estate Global Business Centre Le Mirage Property Management Just Real Estate Background Background Background Background Hani is a real estate expert with 20 years of experience. He Ibtihel has a master’s degree in business and management, and has served with a number of major developers in the region on over 10 years of experience in the business centre field. She Naseef is a highly motivated and accomplished visionary leader Engineer Nasser Hassan Faraj Al-Ansari is a key driver in executive levels as a property director, property senior director has had great success with Global Business Centre and credits with over 21 years of international experience in hospitality Qatar’s economic diversification, which is a main pillar of and vice president, specialised in strategy creation and driving a her understanding of customer’s needs and knowledge of the management. He has demonstrated excellence in operations Qatar National Vision 2030. Graduating with a degree in Civil number of iconic property types (residential, commercial spaces market for that success. She also understands the importance of management, P&L management, cross-functional project Engineering from the University of Miami, Engineer Nasser and offices). communicating with both owners and customers. planning, strategic planning, and budget forecasting with both later pursued an Executive MBA degree at the esteemed HEC startups and fully-grown organisations. He is currently leading Paris. Throughout his career, Al-Ansari has gained a wealth of Takeaway Takeaway Le Mirage Property Management as director of operations, experience across all areas of the real estate sector that allowed and is in charge of the complete suite of Le Mirage properties, him to be in the forefront of key players in the sector. - To give a closer look at the real estate market in Qatar This topic is important as it tackles the important role that including the soon-to-be-launched Marriott International - Take a note of the potential of Qatar’s real estate market business centres play as an essential partner in the economic properties. - Highlight the impact of strong government spending in 2020 growth of Qatar. The country has become the focus of attention Takeaway - Give a perspective on the rental trends for businesses and for international companies after winning the bid to host the Takeaway individuals 2022 FIFA World Cup. Consequently, there is an urgent need This topic is important in order to understand tenants’ behaviour to meet the various needs of companies looking for satellite or We believe strongly in nurturing holistic communities. It’s not and how they base their decision according to market prices. representative offices locally, which offer promising investment only about beautiful design, luxurious living or great facilities. It opportunities. It is fuelled by the global reputation that Qatar is about integrating these important features into the daily lives has in terms of highest GDP per capita, as well as the high of our resident community. We want to encourage and engage investment rates in infrastructure, be it for the World Cup or the every family member to participate in community activities, get Qatar