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Qatar Real Estate Sector Likely to Be Affordable, Competitive In BUSINESS | Page 1 SPORT | Page 1 Steyn has Pakistan in his sights as SA wickets QSE joins elite club of bourses record with ESG data digitalisation looms published in QATAR since 1978 MONDAY Vol. XXXIX No. 11042 December 24, 2018 Rabia II 17, 1440 AH GULF TIMES www. gulf-times.com 2 Riyals That’s entertainment! Qatar real estate sector likely to be aff ordable, Performers greet onlookers during a parade taken out as part of Doha’s Souq Waqif Spring Festival yesterday. Running until January 4, the festivities off er a wide range of entertainment activities. PICTURE: Shaji Kayamkulam competitive in ’19 By Pratap John to trade up. Some central areas in Doha areas of Doha are expected to stabilise. Chief Business Reporter saw stabilisation of rents, while sec- In the offi ce sector, rents are expect- In brief ondary locations outside of Doha saw ed to decline in Lusail, as 80% of the yearly rent and capital value reductions projected supply for 2019 will be fo- New rules for telecom atar’s real estate sector may of up to 20%. cused there. This is expected to also af- see “rising aff ordability and New offi ce stock was seen in ar- fect rents in secondary offi ce locations. Qcompetitiveness” next year, a eas such as Lusail, C-Ring Road (Al Two free zones: Umm Al Houl (34sq tariff s, services come much-needed stimulus in the market, Muntazah, Al Hilal and Rawdhat Al km) and Ras Bufantas (4.01sq km) are ex- QATAR | Offi cial a new report has shown. Khail), Salwa Road (Fereej Abdul Aziz) pected to start receiving foreign and local Amir congratulates According to research and consul- and B-Ring Road (Fereej Bin Dirham), investors in the industrial sector. This is into eff ect on January 1 tancy fi rm ValuStrat, a “downward Al Sadd and Old Salata. Increasing expected to continue to put downward emperor of Japan trajectory” is expected in all sectors in supply and vacancy, forced landlords pressure on rents in relatively older in- His Highness the Amir Sheikh the real estate market in 2019, but with to reduce rents, especially in secondary dustrial areas, ValuStrat said. Tamim bin Hamad al-Thani and His he Communications Regulato- encourage the competition in the tel- “slowing decline rates.” locations. Hospitality sector to see an addition Highness the Deputy Amir Sheikh ry Authority (CRA) has issued ecommunications market. Increased supply in apartments was Offi ces in Al Sadd, C-Ring Road and of six properties (5/4-star): Al Messila Abdullah bin Hamad al-Thani sent Ta decision to promulgate the “The CRA is keen to promote sus- seen in central areas of Doha such as Al Salwa Road experienced steep falls in Resort, Mandarin Hotel, Zulal Wellness yesterday cables of congratulations new Retail Tariff Instruction (RTI) tainable competition and ensure the Sadd, Fereej Bin Mahmoud, Al Man- rents ranging from 15-25% compared to Resort, M Gallery Boutique Hotel, Pan- to Emperor Akihito of Japan on his for telecommunications services to provision of a broad range of high- soura and Al Muntazah and prime areas 2017, ValuStrat said. orama Residences and Suites and Plaza country’s National Day. HE the Prime improve consumer experience and quality and innovative services in the such as Lusail and The Pearl, ValuStrat ValuStrat Qatar general manager Rayhaan. Mid-market hotel segment Minister and Minister of Interior ensure sustainable competition and telecommunications market. The new said. Pawel Banach said: “During 2018, the might continue to show improvement Sheikh Abdullah bin Nasser bin development of the telecommunica- Retail Tariff Instruction is developed Simultaneously, villa supply con- Qatar real estate market was transi- in occupancy. Khalifa al-Thani also sent a similar tions market in Qatar. to encourage service providers to off er centrated in suburban areas of Doha tioning to a new equilibrium as public By the end of 2019, the population cable to Prime Minister Shinzo Abe. All service providers in Qatar must higher quality services at lower prices such as Al Wakrah, Umm Salal Ali, and private sectors started adapting to of Qatar is expected to reach 2.7mn. comply with the decision issued by and tariff s tailored to customers’ spe- Umm Salal Mohammad, Al Maamoura regional geopolitical challenges. By Oc- Assuming all projects are delivered on AMERICA | Politics CRA president Mohamed Ali al- cifi c needs. This will in turn benefi t both and Ain Khalid. tober real estate transactions reached time, Qatar will comprise of 30,000 Mannai eff ective January 1, 2019, the the service providers and consumers, Due to oversupply in some areas, 3,480 with a total value of QR19.7bn. hotel keys and hotel apartments, US girds for lengthy CRA said in a statement yesterday. and will lead to the development of the landlords reduced rents to maxim- Despite, an increase in transactional 300,000 residential units and an offi ce government shutdown The new RTI will provide service sector in Qatar,” al-Mannai said. ise occupancy. Citywide rental values volume and activity in the non-hydro- supply of 4.8sq m GLA, ValuStrat said. The United States yesterday entered providers with more fl exibility as it The new RTI aims to increase the decreased by 12.4% and the ValuStrat carbon sector, the infl ux of supply con- ValuStrat Qatar market research day two of a government shutdown will allow the introduction of new transparency of the tariff s avail- Price Index (VPI) indicated falling cap- tributed to softening rents and prices.” analyst Anum Hasan noted: “For 2019, gridlocking Washington that the tariff s and promotions targeting spe- able in the markets, and to avoid the ital values by about 11%. Nearly 75% of the upcoming resi- we expect downward trajectory to con- White House budget director said cifi c sectors or customer segments. introduction of illegal tariff s. The An emerging fl ight to quality was dential supply will be concentrated tinue in all sectors but with slowing could persist into the new year and Service providers will be required service providers have four months evident as decreasing rental and capi- in The Pearl and Lusail, which might decline rates. This has translated in the next Congress. A budget deal to to publish these tariff s and promo- from January 1, 2019 to regularise il- tal values appeared steeper in second- negatively impact the market rent in rising aff ordability and competitive- end the partial shutdown — which tions on their respective websites. legal tariff s in the market and to move ary locations as compared to high-end the area once projects are handed over. ness, a much-needed stimulus in Qatar forced several key US agencies to This approach has been chosen by their customers to the tariff s that are neighbourhoods, encouraging tenants On the contrary, rental rates in central market.” cease operations at 12:01am (0501 CRA as a regulatory best practice to in compliant with the new RTI. GMT) on Saturday — appears a distant prospect. Page 10 Doctors in Sudan plan to join bread protest BRITAIN | Airport Hotel occupancy rates higher than last year A Sudanese doctors association At least nine people have died since Pair freed in Gatwick yesterday declared that they would protests began last week in eastern drones probe begin an indefinite strike in solidarity cities after price hikes that saw the s of October 2018, Qatar had (Revenue per Available Room) declined QR260 to QR420 per sq m,” ValuStrat A man and a woman arrested over with protesters who are demonstrating cost of a loaf of bread triple. as many as 26,290 hotel rooms by 10%, ValuStrat said. noted. the drone disruption that brought over rising bread and fuel prices. The protests have since spread to other Aand hotel apartments within 125 With the completion of Palms The International Monetary Fund flights to a standstill at London’s Doctors would stop working today parts of the country. establishments, ValuStrat said in a re- Mall and Katara Plaza, organised re- adjusted the GDP growth projections Gatwick Airport were released and only make an exception for The Sudanese government declared port. tail supply totalled 1.8mn sq m GLA to 3.1% for 2019 from 2.4% in 2018. without charge yesterday, police emergencies, the Central Committee of a state of emergency on Wednesday A total of 1.48mn international (Gross Leasable Area) this year, it This is attributed to the recovery of oil said. A 47-year-old man and a Sudanese Doctors (CCSD) said. in two eastern provinces due to the guests (compared to 1.94mn last year) said. prices, robust non-oil sector growth 54-year-old woman from the town “The moral duty of all people of ongoing protests. stayed an average of 3.9 nights per stay “To maintain healthy occupancy, and prudent fi scal policy. of Crawley, near Britain’s second- conscience is to reject violence and we The oil-rich country’s economy was and spent an Average Daily Rate (ADR) landlords in newer shopping malls in- The current account surplus is pre- busiest airport, were arrested on have seen with our eyes in hospitals negatively aff ected when it split with of QR384. troduced incentives by absorbing op- dicted to reach QR4.3bn driven by 21% Saturday. The police swooped after how live bullets were used in the South Sudan in 2011. The fi rst 10 months saw occupancy erational expenses and lowering serv- expected growth in revenues (oil price three days of disruption, aff ecting streets and the killing of unarmed Due to high infl ation, many lost rates averaging at 61% which is 3% ice charges.
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