Real Estate

With data from the Qatar Central Bank showing that real estate prices rose by 103% between July 2009 and September 2013, the local market shows signs of steady recovery from the global financial crisis in 2008. The increase in prices points to growing confidence in the market and strong supporting fundamentals. Much of this growth can be attributed to government reforms that relaxed the rules for foreign real estate investments in 2004. Rapid population growth will continue driving demand for housing and office space, while the strong economy is likely to support retail outlets. Over the longer term, new space – particularly in retail – is set to come onto the market and will likely soften prices. This chapter contains interviews with Badr Mohammed Al Meer, Acting CEO, United Development Company; and Hamad bin Ali Al Hedfa, CEO, Mazaya Qatar Real Estate.