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Qatar's Real Estate Market Introduced

Qatar is a self governing state that lies along the shore of the Persian Gulf, near Saudi Arabia and the United Arab Emirates. Qatar's economy started to grow rapidly after the discovery of oil during the 1940s. Prior to this, Qatar had been made up of fishing and pearling communities, but once it began to profit from the proceeds of the oil industry, the country grew and developed quickly. The Qatar economy and the standards of living in the country are now comparable to any modern Western nation.

In more recent times, the Qatar economy has begun to become more diversified. One of the areas in which there is huge potential for growth is the real estate market. Interest in developing real estate in Qatar has been largely inspired by the rapid development in Dubai, and Qatar is now home to a number of spectacular developments and real estate opportunities. The real estate market in Qatar is geared towards international buyers and expatriates looking for a new home by the sea in a warm and sunny climate.

The Pearl is one of the most interesting new developments in Qatar. The Pearl, a man-made island, is the largest development in Qatar, which, when completed, will be able to house 30,000 residents in an array of luxurious apartments, villas and town houses. The development will also include a selection of attractive amenities, including restaurants, shops, hotels and a yachting hub. These types of high profile developments are important new opportunities in themselves, but they are also an important encouragement for people to work on new developments in the region and to buy property in Qatar, either for themselves or as an investment. Qatar is also home to a number of other important developments, including The Gate, which won the 2010 Arabian Property Award.

The real estate market in Qatar continues to provide a stable and reliable opportunity for investment in property, with the residential sector appearing to show particular promise for the future. There are currently estimated to be about 50 commercial structures and 140 residential developments close to completion or under construction in the Doha area. The construction industry continues to thrive in Qatar, and new opportunities are constantly appearing in the real estate market.

Despite the stability of the local real estate market in Qatar, the future of this market depends on the international recovery from the global financial crisis. Qatar was itself affected by this crisis, but it has managed to stabilize its real estate market and to make a god recovery. This is likely to make it an attractive option for international investors looking for property in the Arab world, as they begin to show increasing interest in buying property again.

Demand for property has tended exceed the supply. This shows a lot of potential for real estate investment, although the difference between supply and demand has been reducing in recent times as international investors have been hit by the economic crisis and new developments in Qatar have been completed, opening up a large number of new homes. The most important residential developments in Qatar have been focused on the Al Waab, West Bay and Diplomatic District areas of Doha.

Lusail City, located to the north of Doha is another important location for the real estate market in Qatar. It is a new city that is intended to be able to support a population of 250,000 once construction has finished. The city will have its own marinas, island resorts, luxury shopping areas, leisure facilities and commercial districts.

According to The Art of Real Estate, the government in Qatar is committed to increasing services and improving infrastructure in Qatar, with 130 billion dollars having been allocated for real estate and infrastructure development in the country during the next six years. The government is also interested in attracting new businesses to Qatar and creating a more diverse economy, which could have a significant impact on the commercial real estate sector. The government has been particularly keen to attract technological companies and to create new educational opportunities.

One interesting possibility for the future is the bid made by Qatar to house the 2022 soccer World Cup. If Qatar is successful, this is likely to stimulate a lot of building and development in Qatar, and to provide a huge boost to the real estate market.

ArabCin.net Arabian Business

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