Real Estate - Qatar Industry Insight Report

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Real Estate - Qatar

Last Update: May 2008

Real Estate is a strategic aim of the Qatari Government
The industry is in its infancy but shows signs of long term sustainable growth
Foreign ownership laws in 2004 attracted outside investment and the development of more residential property
Demand is in excess of supply and looks to continue in the short to medium term, leading to excessively high rental prices
The government is the regulator for all real estate activities and is also a large stakeholder through ownership of companies and shareholding
Buoyant energy prices will support the future growth of the Real Estate industry

The real estate industry is of strategic importance in Qatar's national initiative to develop a vibrant and diverse economy in what has become one of the world's wealthiest countries in per capita GDP.

The catalyst for laws allowing foreign investment in property and construction was the realization that the wealth generated by increasingly more expensive oil and gas could be capitalized upon, and to improve and develop infrastructure and diversify the economy.

In attracting domestic and foreign investments into real estate, Qatar aims to transform itself into a quality destination for tourism, lifestyle, sport and education.

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Significant Developments

Date	Country	Type	News & Comments
Oct08	Qatar	Financing	Barwa reported an 8.3-percent decline in nine-month profit on Wednesday, citing the postponed sales of assets due to poor market conditions. Net profit fell to 299 million riyals ($82.19 million) for the nine months ended Sept 30, down from 326 million riyals in the year-earlier period, the company said in a statement on the bourse website. It did not give a quarterly figure. “The reason for the slight decline is due to postponing the sale of investment opportunities, which are expected to be concluded whenever the market conditions are more favorable,” Barwa said. The developer’s shares, which are down 24.34 percent this year, closed up 2.74 percent before the results were released
Sep08	Qatar	Other Event	Qatar's gross domestic product has surged 60.8% to 96.2 billion Qatari riyals ($26.4 billion) in the second quarter of the current year from QAR59.8 billion a year earlier, a recent government report said. The growth was mainly due to rising oil prices and oil output, the report said according to the paper. The volume of mines and quarries activities, which include oil and natural gas extraction, increased to QAR60.9 billion for the period compared with QAR32.9 billion in the second quarter of 2007
Sep08	Qatar UAE	New Entrants Financing	Barwa Real Estate Company the largest publicly listed property developer in Qatar, and Amlak Finance the largest real estate financier in the Middle East, announce that Amlak Finance (Qatar) has received the licence to commence operations from Qatar Central Bank. The joint venture will see Amlak hold a 40% stake and Barwa hold a 60% stake. Operations are expected to commence in 2H 2008
Aug08	Qatar	Mergers & Acquisitions	Qatar Investment Authority buys a division of UK Land Securities Group - Trillium for GCP 1.1 billion. Trillium is a property outsourcing business which buys buildings and leases them back to clients with full property services.
Aug08	Qatar	Capacity Expansion	Qatar Real Estate Investment Company (Alaqaria)said it has set aside 10 billion Qatari riyals ($2.75 billion) to invest in projects over the coming five years Alaqaria has bought plots of land in Qatar covering a combined area of 68,000 square meters for QAR280 million and these lands have a market value of QAR415 million

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