Cityscape Qatar 2014 group director Deep Marwaha emphasises the growing opportunities for the real estate sector in Qatar.
The real estate industry is looking to Qatar for opportunities in anticipation of the megaprojects related to the FIFA World Cup in 2022 and Qatar National Vision 2030, organisers of the upcoming Cityscape Qatar 2014 said.
Cityscape group director Deep Marwaha said: “With Qatar’s World Cup-related development coming increasingly under the international spotlight with record projections for 2014, Cityscape Qatar will open its doors from June 2 to 4 at the Qatar National Convention Centre (QNCC) to international and local investors and developers.
“Qatar’s development plans have made it one of the most exciting countries on the globe for investors. With one of the world’s fastest growing economies set to double in the next decade, the real estate and construction boom has already picked up considerable pace,” Marwaha said.
Now in its third edition, the annual three-day exhibition “is expected to be twice as large as its 2013 instalment,” he said. “The event is a regular meeting point for key real estate investors, developers, investment promotion authorities, architects, designers, and other real estate professionals to drive growth in real estate investment and development across Qatar and abroad,” Marwaha emphasised.
He noted that megaprojects, amounting to more than $150bn, are major attractions for investors. This also led to a 15% increase in population since Cityscape’s inaugural exhibition in Doha, he added.
“According to industry reports, within the next 12 months the residential market will be bolstered by the completion of 25 residential towers on the Pearl and nine towers in the Diplomatic District, adding 7,200 units,” Marwaha said.
Citing figures from the Qatar Tourism Authority, Marwaha said: “Expectations are high for the retail market with 10 new malls set to be completed, or near completion in a similar period. The hospitality market will be driven by an expected 20% growth in tourist numbers.”
He noted that in this year’s Cityscape, 55% of all exhibitors come from the following countries: Bahrain, Jordan, Kuwait, Saudi Arabia, the UAE, and Turkey, as well as major western industry players from the UK, the US, and Russia.
Also, local real estate developers like Ezdan Holding Group, United Development Company, Msheireb Properties, and Barwa Real Estate Group are set to announce their latest projects and updates on existing developments during the event.
Marwaha also said the event will be highlighted by the “Cityscape Awards for Real Estate in Qatar” on June 3 at the Four Seasons Hotel and participated by developers and architects of real estate developments across Qatar.
Simultaneously held during the exhibition are the “Qatar Real Estate Summit” and the “Cityscape Qatar Retail Forum,” which will bring together senior real estate professionals. Marwaha added that Cityscape Qatar 2014 is supported by its Foundation Sponsors, Ezdan Holding Group and United Development Company (UDC), with Qatari Diar Construction Products Company as Silver Sponsor.
