Real estate sector transactions up 81%

DOHA: The real estate sector witnessed a standard growth of 81 percent taking the combined value of transactions, during the second week of July (7-11), to over QR1.2bn compared to QR670.6m in the previous week, through the implementation of 156 deals, according to Ezdan Holding Groups weekly report.
This was registered, in contrary to the quite atmosphere of summer season, supported by three exceptional deals in Al Rayyan Municipality with a total value of QR524m.

The report referred to prevailing of the sales of plots, which was 68.5 percent of the total transactions during the past week, which refers to the continuity of interesting in purchasing plots supported by the movement of the real estate developers towards purchase of plots to make more new real estate projects.

The report expected that the real estate transactions will witness recovery during the coming weeks, especially in the sector of plots with trend of real estate investors and developers towards making more new real estate projects.
The value of daily rate of transactions of real estate was about QR242.6m compared to QR134.1m in the previous week, with reference to the number of trading days in the previous week, according to the weekly Bulletin issued by the Real Estate Registration Department in the Ministry of Justice.

In return to the transactions of the week, Al Rayyan Municipality ranked first in terms of trading value, reaching QR692.8m acquiring 57.1 percent of the total transactions of the week through the implementation of 36 deals with a standard rise in the value of transactions by 161 percent compared to the previous week.
The value of the top deal in Al Rayyan Municipality was QR410.4m as a result of selling of a plot in Al Wajbah with an area of 152,553 sqm calculating the price of QR2, 690 per sqm.

The plots acquired 83.5 percent of the total transactions in Al Rayyan Municipality for a total value of QR578.7m, while the other real estate acquired QR114.1m.

Doha Municipality came in the 2nd place in terms of transactions’ value of QR304.3m, with a slight growth acquiring 7.2 percent of the total transactions of the week from the implementation of 40 deals compared to 28 deals in the previous week.

The price of the top deal in Doha Municipality was QR42.2m from the sale of a plot in Al Najmah with an area of 2,643 sqm was sold for a price of QR16m. And a residential house in Al Najmah with an area of 525sqm was sold for a price of QR27m.

The Peninsula 2013, Jul 25 2013