Qatar real estate projects to hit $9bn
Doha, July 21, 2014
Qatar’s real estate project value is set to reach QR35 billion ($9.6 billion) in the next five year, with about 25,000 housing unites to be available by the end of this year, said a report.
According to Al Asmakh Real Estate Development, new launches are aimed at meeting the increasing demand for new housing units, said the Peninsula report.
The country is experiencing a sharp rise in its population due to new infrastructure projects launched for the Fifa World Cup 2022 and Qatar’s National Vision 2030, it said.
The growing demand in the real estate sector has led to an increase in the prices of housing units, said the report.
A one bedroom apartment costs about QR1 million, while a two-bedroom QR1.2 million and a three-bedroom QR1.3 million in some areas, it said.
The prices of villas of around in Doha, Al Thumama, Rawdat Al Matar, Ain Khaled range between QR3 million and QR4 million, while in Garaffa, Al Laqta, Al Raya, Um Salal, Azghawa it is around QR2.5 million to QR3.5 million and in Al Khor and Al Zakhira, the price range for villa is QR1.8 million to QR2.2 million, it added.