Qatar Real Estate Booms With Deals Worth $48 Million Recorded in Last Week of July

Qatar Real Estate Booms With Deals Worth $48 Million Recorded in Last Week of July

Qatar’s real estate sector is witnessing increased business activities with the volume of total sale contracts signed during the last week of July reaching 175.52 million Qatari riyals ($48 million), the latest data from the Real Estate Registration Department at the Ministry of Justice showed.

According to the weekly bulletin issued by the department for the period from July 23 to July 27, Qatar’s sale deals included vacant lands, residences, residential buildings, and a commercial-residential building, indicating increased activities across all the segments.

This comes after Qatar’s real estate sector recorded 418.731 million riyals worth of real estate contracts for the week ending July 20. The majority of sales activities took place in the cities of Al-Rayyan, Doha, Al-Khor, Al-Thakhira, Al-Daayen, Al-Wakra, Umm Salal, and Al Shamal, added the report.

Following the FIFA World Cup last year, the Gulf nation is seeing increased business activities, with the real estate sector reaping the benefits of it as the government invested over $300 billion to transform the country’s infrastructure to host the mega event, according to Knight Frank report titled Destination Qatar.

It noted that the country’s residential sector benefited the most from the World Cup, with 850,000 new jobs created between 2010 and 2022. Citing