07 April 2014
DOHA: The real estate market witnessed an unprecedented recovery during the last week of March (from 23 to 27) with the combined value of transactions during the week jumped by 270 percent to QR1.86bn compared to QR504.4m in the previous week.
The total number of deals inked during the week rose to 417 against 127 in the previous week, according to Ezdan's weekly report.
The report, quoting the latest weekly bulletin issued by the Real Estate Registration Department of the Ministry of Justice, said that the average value of daily transactions increased to QR373.2m compared to QR101m in the previous week.
Al Rayyan Municipality acquired the lion's share through the implementation of 254 deals with a ratio of 60.9 percent of the transactions implemented during the week, while Doha Municipality remarkably burst with the implementation of 55 deals.
Plots prevailed on the transactions by 79.5 percent of the total transactions and it is still prevailing on all the regions.
The report anticipated that the real estate transactions will witness further recovery over the coming weeks, especially in the sector of plots with trend of real estate investors and developers towards making more new real estate projects.
In return to the transactions of the week, Al Rayyan Municipality ranked first in terms of trading value of QR855.4m compared to QR68.5m, over 12 times (1,148 percent) higher than the previous week, accounting 45.8 percent of the total value of transactions of the week through the implementation of 254 deals.
The value of the top deal in Al Rayyan Municipality was QR130m as a result of selling of a plot in Ain Khalid with an area of 43,054 square metre calculating the price of QR3,019 per square metre.
Another plot in Mereekh with an area of 10,001 square metre was sold at QR30m, calculating the price of QR3,000 per square metre. A plot in Al Gharrafa, with an area of 6,237 square metre, was sold at QR23.6m, calculating the price of QR3,789 per square metre.
The plots acquired 93.9 percent of the total transactions in Al Rayyan Municipality for a total value of QR803.2m, while the other real estate acquired a value of QR52.2m.
Doha Municipality slipped to the second place with the total value of transactions at QR631.7m compared to QR256.9m in the previous week witnessing a standard rise of 146 percent as a result of the implementation of 55 transactions compared to 33 transactions in the previous week. Doha acquired 33.9 percent of the total transactions of the week.
DOHA: The real estate market witnessed an unprecedented recovery during the last week of March (from 23 to 27) with the combined value of transactions during the week jumped by 270 percent to QR1.86bn compared to QR504.4m in the previous week.
The total number of deals inked during the week rose to 417 against 127 in the previous week, according to Ezdan's weekly report.
The report, quoting the latest weekly bulletin issued by the Real Estate Registration Department of the Ministry of Justice, said that the average value of daily transactions increased to QR373.2m compared to QR101m in the previous week.
Al Rayyan Municipality acquired the lion's share through the implementation of 254 deals with a ratio of 60.9 percent of the transactions implemented during the week, while Doha Municipality remarkably burst with the implementation of 55 deals.
Plots prevailed on the transactions by 79.5 percent of the total transactions and it is still prevailing on all the regions.
The report anticipated that the real estate transactions will witness further recovery over the coming weeks, especially in the sector of plots with trend of real estate investors and developers towards making more new real estate projects.
In return to the transactions of the week, Al Rayyan Municipality ranked first in terms of trading value of QR855.4m compared to QR68.5m, over 12 times (1,148 percent) higher than the previous week, accounting 45.8 percent of the total value of transactions of the week through the implementation of 254 deals.
The value of the top deal in Al Rayyan Municipality was QR130m as a result of selling of a plot in Ain Khalid with an area of 43,054 square metre calculating the price of QR3,019 per square metre.
Another plot in Mereekh with an area of 10,001 square metre was sold at QR30m, calculating the price of QR3,000 per square metre. A plot in Al Gharrafa, with an area of 6,237 square metre, was sold at QR23.6m, calculating the price of QR3,789 per square metre.
The plots acquired 93.9 percent of the total transactions in Al Rayyan Municipality for a total value of QR803.2m, while the other real estate acquired a value of QR52.2m.
Doha Municipality slipped to the second place with the total value of transactions at QR631.7m compared to QR256.9m in the previous week witnessing a standard rise of 146 percent as a result of the implementation of 55 transactions compared to 33 transactions in the previous week. Doha acquired 33.9 percent of the total transactions of the week.
© The Peninsula 2014
