The total value of Qatar’s weekly property sales reached of QR472.6m from November 1-5, with building sales dominating the real estate market activity with a total value of sales worth QR288m, or 61 percent of the total market volume. While vacant land lots registered sales at a total value of QR184.3m, or 39 percent of the total property sales, according to the latest Ezdan Real Estate report, which was sponsored by SAK Partnerships.

The report, citing figures from the weekly real estate bulletin released by the Real Estate Registration Department, noted that the sale operations were distributed among seven municipalities including Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakrah.

The sale deals included vacant land lots, residences, multi-use buildings, mixed-use space and residential buildings.

Al Rayyan municipality witnessed the highest deal in terms of value by selling a residential compound in Umm Al Seneem. The transaction generated up to QR24m, at a price of QR424 per square foot. The compound spans over an area of 5,255sqm. 

Al Rayyan municipality also witnessed the sale of a residential compound extending over 5,103sqm in Umm Al Seneem, generating an aggregate value of QR23.5m, at a price of QR428 per square foot.

The report highlighted the rental rates of Ezdan Real Estate developments in Doha, namely the “Musherib” compounds. The complexes include about 803 residential units, all consisting of two rooms. The monthly rent for a furnished apartment stood at QR3,900, while the monthly rent for an unfurnished apartment starts at QR3,750.

The report also featured the smart real estate project Sharekna which is provided by SAK Partnerships as a solution for landlords of vacant land lots, enabling them to transform their lands into real estate projects that generate long-term gains. The project is suitable for developing a residential or commercial complex, building or tower, or even a hospital or school, Sharekna offers feasibility studies, licenses and good planning by specialised engineers and experts, as well as secures funds for undertaking the project and construction in a record time at a prime cost, without calculating any profit margin for SAK Partnerships. 

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. Ezdan Real Estate Company runs over 22,800 residential units, and around 790 commercial units in Doha, including Al Wakra and Al Wukair.

To view the source of this news, please click (here)