Residential and commercial sectors drive significant demand in Qatar

According to an official speaking with The Peninsula, demand for both residential and commercial real estate in the nation is still rising.

Due to the abundance of apartments and residential villas on the market, Abdul Rahman Al Najjar, Chief Executive Officer of Kate Real Estate Group, stated that there is a significant demand in both sectors.

“We are replicated, but we will always look into the market differently as we have to drive our investment to different fees,” said Al Najjar.

He emphasized that various industries, such as real estate, business, residential, and industrial, have different fees.

However, during the mega sporting event hosted by the country last year, there was a high demand for residential buildings and apartments more than the demand seen in commercial and hospitality sectors, he said adding “We always generate that drive to generate good income for us.”

The realty expert highlighted that “We have to read between the lines where the market will shift in three years.” He also emphasized that an investor must invest for at least two years and be aware of the evolving market.

According to Kate Group CEO, important projects were started ahead of the FIFA World Cup 2022 because of industry demand.

“We started the projects in advance because it will take at least three years to develop and implement it. After 2023, we know that there will be a growing demand, and by then, we will already have our project in the market, he said.

According to Al Najjar, the project was created with analysts in mind, which is why it was “sold to the foreign investor as one project” in its entirety.

According to the official, interest in the market increased after FIFA 2022 and more people became aware of Qatar, its history, and the opportunities that are available for investors to consider.

He said: “We have seen a large number of investments flowing in to buy apartments and villas in the housing market.”

He mentioned that “If you buy an apartment in Qatar between $200,000 and $250,000, you will get a resident permit and if you bought it for up to one million dollars, the investors will get a permanent residential.”

“You will get the permanent residential status with numerous options and benefits like free education, and health, can start a business freely. You can own your own business. So this is an option available for the real estate investor who’s coming outside with a limited amount,” Al Najjar pointed out.

He added that Qatar now has a legacy of awareness about the World Cup and a reputation for having the safest and best environment in the region.

Source link