The total value of property sale activity in Qatar reached QR685.7m from September 20-24. The property sale market witnessed a significant growth in the number of deals closed during the same period, which climbed to 243 transactions. Building sales which included residences, residential buildings, complexes and towers reached QR553.6m, while land lot sales reached QR132m, according to Ezdan Real Estate weekly report, which was sponsored by Sak Partnership.

Citing figures from the Real Estate Registration Department, the report said the real estate deals for vacant land lots, residences, multi-use buildings, mixed-use space land and residential buildings were distributed among eight municipalities, including Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen, Shehaniyah and Al Wakrah.

Doha Municipality acquired the highest deal in terms of value by selling a land lot spanning over 2,063sqm in Fereej Bin Mahmoud, at QR1,500 per square foot, totaling QR33.3m.

Doha Municipality also witnessed the sale of a residence in Al Markhiya area, at a value of QR19.1m, spreading over 4,315sqm, and was sold at QR410 per square foot.

On the other hand, rental rates for two-bedroom apartment in Bin Mahmoud area reached an average of QR5,000, depending on appliances, furniture and services provided by each property, while a three-bedroom apartment registered an average rental value of QR5,500, noted Ezdan report.

Rental rates in New Doha for two-bedroom unfurnished apartment reached an average of QR4,250, while a furnished two-bedroom apartment in the same area recorded an average rental value of QR4,800.

In Al Duhail region, rental rates for a two-bedroom apartment recorded an average of QR6,850, while a 3-bedroom apartment in the same area recorded an average rental value of QR8,000.

The report also highlighted a number of milestone projects in the country’s real estate sector.

Overlooking Al Wakra stadium, the Ezdan Village (25) is a residential complex project comprising 61 villas. A full-range service compound that includes facilities, and a club building, gym, swimming pool, and a Mosque.

This project has attained the completion phase and is available for leasing.

‘Sharekna’ is a smart real estate product provided by Sak Partnership as a solution for landlords of vacant land lots, enabling them to transform the lands into real estate projects that generate continuous gains for life. The project philosophy is based on coupling strength and success of any project.

‘Sharekna’ offers feasibility studies, licenses and planning by specialised engineers and experts. It also secures funds for undertaking a project and its construction in a record time at a prime cost, without calculating any 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 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”.

Ezdan Real Estate Company runs more than 22,800 residential units, and around 790 commercial units in Doha, as well as in Al Wakra and Al Wukair. The company continues to invest in the real estate sector and contribute to real estate development in the State of Qatar on a large scale.

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