Qatar sees rise in Real Estate Price Index as kingdom eases restrictions

By Rahul Vaimal, Associate Editor
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Pearl Qatar
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Qatar’s Real Estate Price Index has witnessed an increase within one week as the kingdom eased regulations as part of its second phase of lifting lockdown restrictions. 

According to Ezdan Real Estate weekly report, few regions have registered record deals worth $412 million in three property sales in the Pearl contributing massively towards the surge of valuation for the Pearl.

During the period from June 28 to July 2, 2020, the Estate Registration Department witnessed 113 property sale deals with a total value of approximately $522 million spread across 8 municipalities namely; Umm Salal, Al Khor, Al Dhakhira, Doha, Al Rayyan, Shamal, Shehaniya, Al Daayen and Al Wakra.

The transactions included residences, multi-use buildings, residential buildings, vacant land lots, and multi-use spaces.

Doha Municipality was ranked first in terms of value after three residential towers in the Pearl were sold with an individual valuation of $137 million at $1883.5 per square foot, while the second tower, which spans over an area of 7236 meters, was sold at $1763 per square foot.

The third tower, which is spanning over an area of 7238 meters was sold at $1762.7 per square meter.