Jan 30 2013
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Qatar housing market set for strong growth: Report
The report states that Qatar is also set for a hotel building boom, with 5,000 new hotel rooms planned each year in the run-up to the 2022 FIFA World Cup.
Terry Tommason, head of Property and Social Infrastructure Middle East at EC Harris said: "The market for residential property sales in the emirate is likely to remain flat, though, and no major new office development is planned due to the continuing overhang of space from the last commercial boom."
However, the report added that the record budget announced by Saudi Arabia, in which social infrastructure is a key feature, would fund a huge number of housing, education and healthcare schemes.
The UAE has benefitted from capital flight from other parts of the region, but uncertainty over the fortunes of global markets continues to restrict the ability to raise debt funding and fuel real estate development.
© The Peninsula 2013
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