Lusail set to become de facto financial district of Qatar: CWQ

Lusail set to become de facto financial district of Qatar: CWQ

Qatar - Lusail downtown could potentially become Qatar’s de facto financial district in the future, according to Cushman and Wakefield Qatar (CWQ).

Highlighting that financial sector companies have started committing to Lusail relocations; CWQ said office activity in 2022 was driven by the government sector and the oil and gas sector.

Most activity over the past 12 months has occurred in Lusail, it said, adding the Qatar Investment Authority (QIA), QNB and the Qatar Central Bank would take up occupation of Lusail Towers on completion.

In February, the QFC (Qatar Financial Centre) acquired more than 6,000sq m of office space in Lusail Boulevard, joining Qatar Chamber, which is due to relocate to the same street shortly.

"These upcoming office relocations could potentially see the Lusail downtown area become Qatar’s de facto financial district in the coming years," CWQ said, adding the expanding supply of office accommodation in Lusail has surpassed 800,000sq m.

Highlighting that Msheireb Downtown Doha is also gaining recognition as a commercial destination; it said Msheireb Properties has secured several commercial office lettings in the first quarter of 2023 with international companies from the oil and gas and financial services sectors.

"There are also several other transactions in the pipeline, which are expected to