Doha, Qatar: The commercial and residential real estate industry continues to witness surging demand in the country, noted an official in an interview with The Peninsula.
Chief Executive Officer of Kate Real Estate Group Abdul Rahman Al Najjar remarked that there is a huge demand seen in both sectors due to the numerous apartments and residential villas that are available in the market.
“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 stressed there are different fees across diverse sectors including real estate, commercial, residential, and industrial.
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 emphasised that an investor must invest for at least two years and be aware of the evolving market.
Kate group CEO expounded that even before the FIFA World Cup 2022, key projects were initiated driven by popular demand in the sector.
“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
Al Najjar elucidated that the project was targeting analysts and therefore it has been developed and completely “sold to the foreign investor as one project”.
Post-FIFA 2022, the demand for the market surged and people are aware of Qatar, its legacy, and the opportunities open for investors to explore, stated the official.
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 also remarked that the World Cup gave Qatar a legacy of awareness about the country and a sense of the safest and best available environment in the region.
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