After LSE’s sharp rebuff, HKEX begins investor charm offensive PAGE 11 MONDAY, SEPTEMBER 16, 2019 27,219.52 10,394.90 37,384.99 1,499.50 +37.07 PTS -66.75 PTS +280.71 PTS GOLD -0.52% Saudi, Gulf stocks fall after DOW QE SENSEX attacks on Aramco plants PAGE 11 PRICE PERCENTAGE PRICE PERCENTAGE 17.57 BRENT 60.22 -0.26% WTI 54.85 -0.44% SILVER -3.34% Jordan-Qatar QFZA CHAIRMAN MEETS WITH CHINESE DELEGATION Saudi attacks raise Business Council to meet spectre of oil at $100 REUTERS ity amidst ongoing disruption QNA LONDON risks, hoarding, and panic sen- AMMAN timent.” THE oil market will rally by Greg Newman, CO-CEO AMBASSADOR Extraordi- $5-10 per barrel when it opens OF Onyx Commodities expects nary and Plenipotentiary on Monday and may spike to brent futures to open $2 per of Qatar to the Jordan HE as high as $100 per barrel if barrel up and close $7 to $10 Sheikh Saud bin Nasser al Saudi Arabia fails to quickly per barrel higher on Monday. Thani said the Qatari Embas- resume oil supply lost after at- The market could see a re- sy in Jordan was ready to pro- tacks over the weekend, trad- turn to $100 per barrel if the vide all forms of cooperation ers and analysts said. issue cannot be resolved in the to enhance relations between Attacks on two plants at short term, he said. the two countries by conven- the heart of the kingdom’s oil “In the swaps market, ing the Jordanian - Qatari industry on Saturday knocked Dubai timespreads could see a Business Council. out more than half of Saudi $1.50-$2 barrel backwardation During his meeting with crude output, or 5% of global as end-users scramble to cover the Jordanian Businessmen supply. Industry sources have shorts for short-term loading.” Association Board headed by said it may take weeks to bring Refined product prices will Hamdi al Tabbaa, the Am- production fully online. be strong, with particular em- bassador said over the years Minister of State and Qatar Free Zones Authority (QFZA) Chairman HE Ahmad bin Mohammed al Sayed interacting with Chairwoman of Bob McNally Rapidan En- phasis on high-sulphur fuel the two countries witnessed the Shanghai People’s Congress Yin Yicui when they met in Doha on Sunday. ergy said Crude prices would oil given current tightness and several exchanges of visits by spike by at least $15-20 per that it is the refinery product economic and diplomatic del- TRIBUNE NEWS NETWORK an official delegation led by mittee of Shanghai Municipal areas of potential collabo- barrel in a seven-day disrup- most closely linked to Saudi egations, which resulted in DOHA Chairwoman of the Shanghai People’s Congress Chen Jing ration between Qatar Free tion scenario and go well into heavy crude, he said. the signing of many bilateral People’s Congress Yin Yicui. and heads of various leading Zones, the Shanghai Pilot triple digits in a 30-day sce- Ayham Kamel of Eurasia agreements and memoranda MINISTER of State and The delegation included Chinese companies. Free Trade Zone and promi- nario. Group said, “A small $2-$3 per of understanding. Qatar Free Zones Author- senior representatives such as The meeting focused on nent Chinese investors, fur- “This does not include barrel premium would emerge He said the relations be- ity (QFZA) Chairman HE Chinese Ambassador to Qa- opportunities for co-oper- ther supporting bilateral what are likely to be large (if if the damage appears to be an tween the two countries have Ahmad bin Mohammed al tar HE Zhou Jian, Secretary ation between Qatar and relations of both Qatari and difficult to model or predict) issue that can be resolved quick- always remained in a good Sayed hosted in his office General of the Standing Com- China, as well as additional Chinese investors. premia to reflect zeroing out of ly, and $10 if the damage to Ara- shape. global spare production capac- mco’s facilities is significant.” OPTIMISM ACROSS SECTOR IN QATAR ‘Realty market turning more tenant-friendly’ Commercial office, ‘Next few years exciting for Qatar’ residential and retail experience RAHUL PREETH downward price DOHA corrections, ac- QATAr’s real estate is facing cording to KPMG exciting times ahead on ac- count of certain infrastructure milestones, regulatory re- TRIBUNE NEWS NETWORK forms, diversification efforts DOHA and the 2022 FIFA World Cup, Cushman & Wakefield QATAR real estate market Qatar GM Edd Brookes said will remain tenant-friendly as in Doha on Sunday. rentals across the three major Brookes was address- asset segments — commer- ing an event announcing the cial office, residential and re- re-branding of DTZ Qatar to tail — experience downward Cushman & Wakefield Qatar, price corrections, according The latest KPMG Qatar Real estate Rental Index showed that property vacancy rate along the major in Doha on Sunday. Cushman & Wakefield Qatar GM Edd Brookes to KPMG’s latest updates on commercial districts of Doha In terms of infrastruc- the Real Estate Index. ture, development Brookes Besides the metro, visa-free arrivals for nationals Anurag Gupta, Director said he was keen to know Brookes is hopeful of Qatar’s of more than 80 countries. It and Head of Real Estate at the effect of the opening of revitalised tourism promotion said the continued focus on KPMG in Qatar, said: “Over CIntroducing initiatives such as 100 percent foreign remaining Qatar Metro sta- programmes. He said he was alternative tourist markets the past two quarters, we tions on Doha’s micro real looking forward to seeing how has seen an increase in arriv- have witnessed long-term ownership across various sectors with no capital flow estate market. the nation’s ambition to host als from China, Russia and initiatives from the gov- restrictions and negligible taxes, expanding the coverage Currently, 13 stations are more than 5.6 million tourists India. ernment to induce further of foreign ownership in real estate are expected to help open on Doha Metro’s Red by 2023 affects the domestic Talking about regulations, growth in the economy. In- market stabilize and grow fundamentally. Line South: Al Qassar, DECC, property retail market. Brookes said the anticipated troducing initiatives such as QIC West Bay, Corniche, Al Cushman and Wakefield, adoption of adoption of RICS 100 percent foreign owner- Anurag Gupta, Director & Head of Real Estate at KPMG in Qatar Bidda, Msheireb, Al Doha Al in its fourth quarter analy- standards and a far more regu- ship across various sectors Jadeda, Umm Ghuwailina, Al sis of the Qatar real estate lated brokerage markets could with no capital flow restric- online and demand contin- ing the last two quarters of rentals have started to feel Matar Al Qadeem, Oqba Ibn in 2018 (under DTZ Qatar), only be a positive step for fully tions and negligible taxes, ues to remain subdued. How- 2018, mostly led by the villa the heat particularly in Q3 Nafie, Economic Zone, Ras has cited an increase in do- compliant companies such as expanding the coverage of ever, the initial two quarters category (catering to middle and Q4 2018. It experi- Bu Fontas and Al Wakra. mestic tourism, especially in Cushman & Wakefield Qatar. foreign ownership in real of 2019 witnessed a marginal and affordable segments) enced a 2 percent decline in Several publications, in- five-star establishments since “In diversification, with estate are expected to help drop of 2 percent in the rental experiencing a drop in the the rental index and this is cluding Qatar Tribune, have the unjust blockade of Qatar government policy committed market stabilize and grow index compared to 5 percent rental index by approximate- reflective of the increased reported a surge in demand by some of its neighbours in to expanding the non-hydro- fundamentally.” during the last two quarters ly 8 percent. The apartment supply along with growing for properties near these sta- 2017. carbon sector, the expansion The latest KPMG Qa- of 2018. segment witnessed a decline vacancy in the market. This tions after their opening. The report also credits of QFC-compliant activities tar Real estate Rental Index In the residential market of approximately 6 percent decline has resulted in many Two more lines — Green the Qatar National Tourism and a focussed roadshow of showed that vacancy rate the initial two quarters of during H1 2019. anchor tenants negotiating and Gold — are under con- Council’s measures to boost the Qatar Free Zone Author- along the major commercial 2019 witnessed a drop of 3.6 Qatar’s retail market lease terms and signing bet- struction, which upon com- the hotel sector, including ity to compete for regional districts of Doha could in- percent on the rental index maintained stable for more ter deals as the competition pletion in 2020 will take the the introduction of e-visas, and international occupiers,” crease as new supply comes compared to 4.5 percent dur- than a year, however mall in this sector intensifies. total number of stations to 37. free 96-hour transit visas and Brookes said. Real estate consultant DTZ Qatar rebranded Cushman & Wakefield Qatar RAHUL PREETH process started by Cushman The Americas and the more than 400 offices in 70 quite simply our clients – research, feasibility studies, “Looking at our business DOHA and Wakefield after its merg- Middle East, including Qatar, countries, employing nearly they are the centre of every- commercial and residential here in Qatar, we are proud er with DTZ a few years ago. are key to the firm’s medium- 51,000 people. thing that we do,” Brookes leasing and sales, property to remain the only true inter- REAL estate consultant DTZ Addressing why the term growth and Cushman Globally, Cushman & said.