Qatar property transaction up 35.2pc
Doha, April 7, 2014
Qatar's property transaction value jumped 35.2 per cent to QR11.9 billion ($3.1 billion) in the first quarter, compared to QR8.8 billion during the same period last year, said a report.
The country’s new budget proposals projects QR87.5 billion spending in infrastructure, which will boost the real estate sector, said the Peninsula report.
The projected allocation is up 16.8 per cent compared to the previous budget allocations to infrastructure development, it said.
The government is set to spend an estimated QR664 billion in the non-oil and gas sector for the next five years, the Finance Minister was quoted as saying, lifting the country's construction sector further.
The newly enacted law intended to regulate the real estate market is another driver for the construction sector, said the report.
The market players believe that the law will help check market manipulators and further stabilise the market.