The property sale activity from September 13-17 showed that building sale transactions including residences, residential buildings, complexes and towers, have reached QR847m, while land lots generated up to QR148.8m, according to Ezdan Real Estate report, which was sponsored by SAK Partnership.

According to the Real Estate Registration Department, the total value of property sale activity during the same period reached QR995.9m, and the operations were distributed over seven municipalities including Umm Salal, Al Khor, Al Thakhira, Al Doha, Al Rayyan, Al Shamal, Al Daayen, and Al Wakra.

The deals included vacant and multi-use land lots, residences, and multi-use buildings. The Doha municipality ranked first in terms of deal value through the sale of a residential tower spanning over an area of 16,150sqm in Onaiza, generating an aggregate value of QR411.5m, at a price of QR2,367 per square foot.

Doha municipality has also seen the sale of a 3,983sqm residential tower in Onaiza at QR3,475 per square foot, totaling QR149m. The report also provided an overview on current rental rates across the residential sectors. An average of QR2,533 rental rate was recorded for a Studio in Al Wukair, while the average rental for a one-bedroom apartment in Al Wukair stood at QR3,425, and varied according to the nature of furniture, and services provided by each property. The two-room apartment in the same region registered an average rental value of QR3,929, and a threeroom apartment registered an average rental value of QR5,588.

Residential villas in Al Wukair registered QR7,650 average rental value, depending on the services, features and the region. While rates in the Musheireb area for a one-bedroom apartment reached an average of QR3,900, depending on the equipment, furniture and services provided by each property, and a two-room apartment in the same area stood at around QR4,000. However, rental rates for a two-room apartment in Gharaffa region registered an average of QR5,125, and residential villas recorded an average rent of QR9,600 depending on the services and advantages of each villa. The villas ranged between 3 to 4 rooms furnished or unfurnished.

The report also highlighted the “Ezdan Oasis” project, a mega project developed by “Sharkna” real estate product, which includes 347 residential buildings, with several groundfloor shops. The project comprises 8,769 housing units, and about 577 commercial units, all of which span over an area of 1 million square metres. The green lawns account for 35 percent of the project land, as well as a hypermarket, an international school, mosques, sports fields, swimming pools, restaurants and cafes.

Another project, the “Sharekna” is a smart real estate product provided by Sak Partnership as a solution for landlords of vacant land lots, enabling them to transform them into real estate projects that generate continuous gains for life. The project is suitable for developing either a small or vast area of land used for residential or commercial complex, building or tower, or even a hospital or school. Sharekna offers feasibility studies, licenses and planning by specialised engineers and experts, and guarantees securing funds for undertaking the project and construction in a record time at a prime cost, without calculating profit margin for Sak Partnership.

This saves 40 percent of the total cost of the project for the landlord, in return for a stake equivalent to one third of the project only for Sak. At the same time, the landlord may choose to divest the joint venture agreement. Sak Company offers 5 percent commission for realtors interested to work under “Sharekna”.

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