Author

Friday, December 05, 2025 | Daily Newspaper published by GPPC Doha, Qatar.
 Santhosh V. Perumal
Santhosh V. Perumal
Santhosh V. Perumal, a postgraduate in Econometrics with an advance qualification in Capital Markets and Financial Services, is Gulf Times' journalist. His coverage areas are debt and equity, hydrocarbons, international trade, environment, banks, insurance and real estate. Previously, he was in New Delhi, India as Senior Finance Correspondent of PTI.
Azman Mokhtar, chairman, Malaysia International Islamic Financial Centre Leadership Council.
Business
'Qatar and Malaysia should facilitate blockchain solutions for sukuk contracts'

Qatar and Malaysia should tap synergies in the Islamic finance to jointly facilitate blockchain-based innovations for smart sukuk contracts, according to a top official of Malaysia International Islamic Financial Centre (MIFC) Leadership Council."Fintech accelerator programmes and Malaysia’s regulatory sandbox initiatives could facilitate joint blockchain-based innovations for smart sukuk contracts," Azman Mokhtar, chairman, MIFC Leadership Council said in a report of the Qatar Financial Centre (QFC).This partnership is further enriched by a shared vision for harmonising Shariah-compliant standards and leveraging technology to improve transparency and efficiency in financial transactions and charitable distributions, such as modernising Zakat and Waqf platforms, he said in the Qatar Islamic Finance Report 2025."The synergy between Malaysia’s digital Islamic banking leadership and Qatar’s flourishing Islamic fintech ecosystem suggests a fertile ground for co-developing solutions that address the pressing needs of today while paving the way for a future-ready Islamic finance," he said.In the area of Islamic finance, Mokhtar said the unfolding relationship between Malaysia and the Gulf Cooperation Council or GCC, with Qatar, as one of the key players, is "emerging as a frontier of immense potential."This collaboration is driven by a shared commitment to fostering a robust, sustainable, and innovative global Islamic finance sector, according to him.Mokhtar's comments assume significance in view of the QFC launching its Digital Assets Framework, a comprehensive and innovative regime for the creation and regulation of digital assets in the QFC.Malaysia, with its commanding presence in the global sukuk market -- holding nearly 50% of all global issuances and $329bn in outstanding sukuk as of 2024 -- and Qatar, with its pioneering efforts in integrating ESG (environment, social and governance) principles, including the $467mn Al Kharsaah Solar Plant, possesses unique strengths."When combined, these strengths offer unprecedented opportunities for growth and innovation," he said.Such a collaborative endeavour has the potential to achieve "significant" milestones, including advancements in green sukuk frameworks to tap into the ESG investment market, which is projected to reach $50tn by 2025.Additionally, he said, the exploration of blockchain technology for financial services underscores the potential to not only enhance financial inclusivity but also drive positive environmental impacts."As we look to the future, it is imperative that our policies and initiatives continue to align with the goal of nurturing a resilient and competitive Islamic finance sector," Mokhtar said.Key areas for us to concentrate on include regulatory alignment to ease cross-border transactions, human capital development, and fostering innovation through technology. "These priorities will undoubtedly propel us towards achieving a more inclusive and sustainable global financial system," he said, adding the collaborative journey between Malaysia and Qatar serves as a shining example of global cooperation in Islamic finance."Steered by shared interests and mutual respect, our partnership not only enhances the economic well-being of our respective nations but also contributes significantly to the global Islamic finance architecture, setting a precedent for future collaboration," he added.

Gulf Times
Business
QSE sees 62% of stocks in the red; index loses 19 points

The Qatar Stock Exchange (QSE) on Thursday fell about 19 points on selling pressure especially in the real estate, industrials, and transport sectors.The foreign individuals were increasingly net sellers as the 20-stock Qatar Index shed 0.18% to 10,574.59 points, although it touched an intraday high of 10,606 points.The foreign institutions’ weakened net buying had its influence on the main market, whose year-to-date gains truncated to 0.03%.About 62% of the traded constituents were in the red in the main bourse, whose capitalisation shed QR0.94bn or 0.15% to QR624.62bn on the back of microcap segments.The Gulf retail investors were seen increasingly net profit takers in the main market, which saw as many as 0.05mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.13mn trade across 15 deals.The domestic funds continued to be net sellers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the decline.The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.The local retail investors continued to be bearish but with lesser vigour in the main bourse, which saw no trading of sovereign bonds.The Total Return Index was down 0.18%, the All Islamic Index by 0.25% and the All Share Index by 0.15% in the main market.The realty sector index shrank 1.08%, industrials (0.7%), transport (0.23%) and banks and financial services (0.11%); whereas telecom gained 1.64%, insurance (0.17%) and consumer goods and services (0.14%).Major losers in the main market included Qatar Electricity and Water, Barwa, Ezdan, Alijarah Holding, Estithmar Holding, Dukhan Bank, Salam International Investment, Gulf Warehousing and Milaha. In the junior bourse, Techno Q saw its shares depreciate in value.Nevertheless, Lesha Bank, Medicare Group, Mannai Corporation, Vodafone Qatar and Ooredoo were among the movers in the main market.The foreign individual investors’ net selling grew noticeably to QR7.72mn compared to QR3.06mn on Wednesday.The Gulf retail investors’ net profit booking expanded marginally to QR0.4mn against QR0.32mn the previous day.The foreign institutions’ net buying decreased substantially to QR16.87mn compared to QR34.76mn on May 14.However, the Gulf institutions’ net buying increased considerably to QR14mn against QR2.86mn on Wednesday.The domestic institutions’ net selling weakened markedly to QR9.78mn compared to QR13.79mn the previous day.The Arab retail investors’ net profit booking declined noticeably to QR6.5mn against QR11.72mn on May 14.The Qatari individual investors’ net selling eased perceptibly to QR6.47mn compared to QR8.76mn on Wednesday.The Arab institutions had no major net exposure against net buyers to the tune of QR0.03mn the previous day.The main market witnessed a 23% contraction in trade volumes to 169.12mn shares and 4% in value to QR446.69mn but on 3% jump in deals to 22,508.In the venture market, a total of 3,883 equities valued at QR0.01mn changed hands across four transactions.

Yousuf Mohamed al-Jaida, chief executive officer of QFC
Business
QFC welcomes US President; visit to become pivotal in deepening US-Qatar economic and strategic relations

Yousuf Mohamed al-Jaida, chief executive officer of the Qatar Financial Centre (QFC), which is home to more than 170 American companies, has termed the US President Donald Trump's visit to Doha as “pivotal” in deepening economic and strategic relations."This visit underscores the strength of our bilateral ties and highlights Qatar’s role as a gateway for American businesses into the GCC (Gulf Cooperation Council) and beyond," al-Jaida told Gulf Times.The visit of the US President to Qatar marks a pivotal moment in the deepening of the US-Qatar economic and strategic relations, he said, adding "at the QFC, we are proud to host a growing number of US companies, reaching more than 170 entities that are leveraging our platform to expand their footprint in the region."The QFC remains committed to facilitating seamless market entry and operational excellence for the US firms, particularly in the financial services sector."As we witness renewed momentum in trade and investment dialogue, this visit serves as a catalyst for greater collaboration, innovation, and capital flow between the two countries. We look forward to building on this historic occasion to further enhance our shared economic prosperity," according to him.The US President's visit to Qatar underscores more than 50 years of diplomatic partnership and strategic cooperation.Reports suggest that more than 900 US companies operate in Qatar with the US foreign direct investment to the tune of $110bn and bilateral commercial relationship valued at $200bn.The QFC and the American Chamber of Commerce Qatar (AmCham Qatar) had in 2023 signed a memorandum of understanding (MoU) to enhance bilateral trade and investment relations between the two countries.The QFC had a pact with the US-Qatar Business Council (USQBC) to expand collaboration between the two organisations and promote business between the countries.

Sheikh Mohamed bin Faisal al-Thani, vice chairman of Al Faisal Holding. PICTURE: Thajudheen
Business
US President's visit to Qatar paves way for strong bilateral cooperation and new strategic partnerships

Sheikh Mohamed bin Faisal al-Thani, vice chairman of Al Faisal Holding, on Wednesday welcomed the historic visit of the US President Donald Trump to Qatar and said it will pave way for strengthening bilateral cooperation and opening new horizons for strategic partnerships.Terming the visit as a “significant" milestone reflecting the strength and depth of Qatari–US relations across all levels; he said the US has long been a key economic partner for Qatar, encouraging many private sector companies to expand their presence in the wider American market.Among them is Al Faisal Holding, whose investments in the US span four major states: Washington, New York, Florida (Miami), and Illinois (Chicago), primarily in the hospitality sector."We have built strong strategic relationships with leading American hotel management companies, and our partnerships with these global operators extend beyond the US, as we also operate hotels across Europe, the Middle East, and North Africa," Sheikh Mohamed said.In addition to hospitality, Aamal Company has successfully attracted prominent American companies to the Qatari market in various sectors, most notably in healthcare and other vital industries, further deepening the economic and commercial ties between the two countries, according to him."We are confident that this visit will contribute to strengthening bilateral cooperation and opening new horizons for strategic partnerships, including at the private sector level," he said."At Al Faisal Holding, we look forward to expanding our presence in the U.S. market and exploring new investment opportunities," he added.US President Donald Trump arrived in Qatar, his second stop on a three-day tour of the Gulf. His visit comes as part of his first foreign tour since assuming office this January.Several American companies operate in many key sectors in Qatar, particularly energy, information technology, and communications, contributing to the goals of Qatar National Vision 2030.

IFSB secretary-general Dr Ghiath Shabsigh.
Business
Qatar's Islamic finance offers significant growth opportunities: IFSB

The Shariah-compliant finance industry in Qatar presents "significant" growth opportunities and position the country as a global hub for Islamic finance, according to a top official of Malaysia-based the Islamic Financial Services Board (IFSB)."The Islamic finance industry in Qatar presents significant opportunities for growth, driven by increasing demand for Islamic financial products, government support, and technological advancements," IFSB secretary-general Dr Ghiath Shabsigh said in a report published by the Qatar Financial Centre (QFC).With greater awareness and preference for ethical finance, he said Islamic banking, takaful, and sukuk investments are gaining traction among both domestic and international investors.Qatar National Vision 2030, which emphasises economic diversification and innovation, positions Islamic finance as an important pillar for sustainable development and growth. Furthermore, the Qatar Central Bank is aiming, under its third strategic plan, to give the industry clear direction, support innovation, and promote and raise awareness of Islamic financial services, according to him.These factors create important opportunities for Qatar’s Islamic financial institutions to expand regionally and internationally, and to position the country as a global hub for Islamic finance.Since the QFC Regulatory Authority or QFCRA became a member of the IFSB in 2006, and the QFC an observer in 2018, the collaboration has contributed to the development of robust regulatory standards, ensuring a sound and resilient Islamic financial sector, Shabsigh said.The QFCRA has actively participated in the development of IFSB standards, shaping IFSB policy discussions, and aligning international best practices with industry needs, including standards such as the Core Principles for Islamic Finance Regulation, Conduct of Business Supervision in Takaful Undertakings, and several other standards. Additionally, the QFCRA’s involvement in capacity-building initiatives such as training programmes, workshops, and experience- and knowledge-sharing forums has helped enhance Islamic finance regulatory expertise and institutional capabilities across IFSB membership.Qatari IFIs (Islamic financial institutions) voluntarily adopt Shariah standards set by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).This voluntary adoption of standards provides flexibility while ensuring that the IFIs adhere to internationally recognised Shariah principles.The approach to Shariah governance allows Qatari IFIs to tailor their operations to meet both domestic and global customer and investor expectations.Qatar has become a key player in the global Islamic finance sector, leveraging its strong financial infrastructure and strategic initiatives to drive growth and innovation.The country has a dynamic Islamic finance industry, with a broad range of Shariah-compliant products. It is a major regional player, hosting two of the region’s 10 largest Islamic banks by asset size.The Islamic finance industry is considered a vital part of the country’s financial system. Traditional Islamic finance assets reached QR684bn by the end of 2024, constituting 27% of Qatar’s total traditional financial system assets.

The Arab individuals were increasingly net sellers as the 20-stock Qatar Index shed 0.22% to 10,585.58 points
Business
QSE snaps three-day bull-run; index falls 24 points

Snapping three consecutive days of bullish run, the Qatar Stock Exchange (QSE) on Tuesday lost about 24 points and its key index retreated below 10,600 points.The Arab individuals were increasingly net sellers as the 20-stock Qatar Index shed 0.22% to 10,585.58 points, although it touched an intraday high of 10,650 points.The telecom and transport counters witnessed higher than average selling pressure in the main market, whose year-to-date gains truncated to 0.14%.About 55% of the traded constituents were in the red in the main bourse, whose capitalisation shed QR0.49bn or 0.08% to QR623.85bn on the back of microcap segments.The domestic institutions turned net profit takers in the main market, which saw as many as 0.19mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.43mn trade across 49 deals.The foreign funds’ weakened net buying had its influence on the main bourse, whose trade turnover and volumes were on the increase.The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.The local retail investors continued to be net profit takers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Total Return Index shed 0.22%, the All Islamic Index by 0.33% and the All Share Index by 0.17% in the main market.The telecom sector index declined 1.35%, transport (0.7%), banks and financial services (0.16%) and real estate (0.11%); while insurance gained 0.47%, consumer goods and services (0.17%) and industrials (0.13%).Major losers in the main market included Qatar General Insurance and Reinsurance, Vodafone Qatar, Milaha, Lesha Bank, United Development Company, Doha Bank, Al Faleh Educational Holding, Qatar Insurance and Ooredoo. In the junior bourse, Techno Q saw its shares depreciate in value.Nevertheless, Estithmar Holding, Gulf International Services, Ezdan, Alijarah Holding, Qatar Insurance, Qatar Electricity and Water, Aamal Company and Mazaya Qatar were among the gainers in the main market.The Arab retail investors’ net selling increased noticeably to QR6.41mn compared to QR2.64mn the previous day.The Gulf individual investors’ net profit booking rose marginally to QR1.68mn against QR1.39mn on Monday.The domestic institutions turned net sellers to the tune of QR1.59mn compared with net buyers of QR9.2mn on May 12.The Arab institutions were net profit takers to the extent of QR0.79mn against no major net exposure the previous day.The foreign institutions’ net buying decreased substantially to QR35.78mn compared to QR74.8mn on Monday.The Gulf institutions’ net buying weakened perceptibly to QR1.77mn against QR10.25mn on May 12.However, the Qatari retail investors’ net selling shrank significantly to QR26.46mn compared to QR85.98mn the previous day.The foreign individual investors’ net profit booking eased markedly to QR0.63mn against QR4.25mn on Monday.The main market witnessed a 13% surge in trade volumes to 267.81mn shares, 6% in value to QR565.26mn and less than 1% in deals to 20,630.In the venture market, a total of 24,978 equities valued at QR0.07mn change hands across 10 transactions.

The domestic institutions were increasingly net buyers as the 20-stock Qatar Index rose 0.06% or six points to 10,531.81 points, recovering from an intraday low of 10,475 points.
Business
US-China trade deals lift sentiments in QSE as index gains 77 points; M-cap adds QR5.72bn

The US-China trade deal had its positive influence on the Qatar Stock Exchange (QSE) on Monday as its key index gained 77 points to cross the 10,600 levels.The foreign funds were increasingly net buyers as the 20-stock Qatar Index rose 0.73% to 10,609.25 points, although it touched an intraday high of 10,636 points.The industrials, banks and insurance counters witnessed higher than average demand in the main market, which for the first time this year turned black as it reported 0.36% gains year-to-date.About 68% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR5.72bn or 0.92% to QR624.34bn on the back of large and small cap segments.The Gulf institutions were increasingly net buyers in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.62mn trade across 12 deals.The domestic funds were seen bullish in the main bourse, whose trade turnover and volumes were on the increase.The Islamic index was seen gaining slower than the indices of the main market, which saw no trading of treasury bills.However, the local retail investors turned net profit takers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.73%, the All Islamic Index by 0.65% and the All Share Index by 0.85% in the main market.The industrials sector index shot up 1.72%, banks and financial services (0.9%), insurance (0.81%), transport (0.49%), consumer goods and services (0.24%) and real estate (0.18%); while telecom declined 0.99%.Major movers in the main market included Qatar Electricity and Water, Estithmar Holding, Industries Qatar, Widam Food, QNB, Qamco, QIIB, Salam International Investment, Al Faleh Educational Holding, Baladna, Gulf International Services, Mesaieed Petrochemical Holding, Milaha and United Development Company. In the junior bourse, Techno Q saw its shares appreciate in value.Nevertheless, Qatar Cinema and Film Distribution, Vodafone Qatar, Commercial Bank, Qatar Oman Investment and Ooredoo were among the shakers in the main market.The foreign institutions’ net buying increased substantially to QR74.8mn compared to QR6.76mn on Sunday.The Gulf institutions’ net buying expanded significantly to QR10.25mn against QR2.21mn the previous day.The domestic institutions turned net buyers to the tune of QR9.2mn compared with net sellers of QR37.12mn on May 11.However, the Qatari retail investors were net sellers to the extent of QR85.98mn against net buyers of QR18.23mn on Sunday.The foreign individuals were net sellers to the tune of QR4.25mn compared with net buyers of QR3.98mn the previous day.The Arab individual investors turned net profit takers to the extent of QR2.64mn against net buyers of QR4.57mn on May 11.The Gulf retail investors were net sellers to the tune of QR1.39mn compared with net buyers of QR1.38mn on Sunday.The Arab institutions had no major net exposure for the fifth straight session.The main market witnessed a 24% surge in trade volumes to 237.29mn shares, 61% in value to QR535.28mn and 96% in deals to 20,585.In the venture market, a total of 57,602 equities valued at QR0.16mn change hands across 12 transactions.

Jean-Jacques Valery Dandrieux, co-chief executive officer of QFC unit of EnergyX.
Business
South Korea's EnergyX incorporates QFC entity

South Korea's EnergyX, a global leader in AI-driven energy self-sufficiency solutions for zero-energy buildings (ZEBs), has officially incorporated its Qatar entity, under the Qatar Financial Centre (QFC) licence.This strategic move establishes a permanent foothold for the company in one of the region’s most innovation-driven markets and initiates the next phase of its global expansion.The newly incorporated entity will serve as the company’s dedicated base for research and development (R&D) in Qatar, enabling the localisation and advancement of its energy optimisation technologies.With EnergyX now established in Qatar, the company is poised to advance its vision of intelligent infrastructure through strategic growth — combining world-class R&D with high-precision capital strategy to expand its regional and global footprint.The decision to formalise operations in Qatar follows EnergyX’s February announcement at Web Summit Qatar 2025, where the company outlined its commitment to working with local partners to scale intelligent infrastructure solutions across the country.During the Web Summit Qatar 2025, EnergyX had disclosed its plans to establish a major R&D centre in Qatar, committing to invest more than $100mn in the GCC (Gulf Co-operation Council) over the next five years.“Establishing EnergyX is a foundational step in our long-term strategy to deepen R&D and drive scalable energy transformation in Qatar,” said Sean Park, global chief executive officer of EnergyX.Alongside the incorporation, EnergyX has appointed Jean-Jacques Valery Dandrieux as co-chief executive officer of QFC unit of EnergyX.Dandrieux will also serve as chief strategy officer of EnergyX globally, with a mandate focused on accelerating the company’s strategic growth through mergers and acquisitions, cross-border partnerships, and high-impact capital deployment.Now in an operating role, Dandrieux’s focus will centre on inorganic growth—leading acquisitions, structuring sovereign partnerships, and building the cross-border frameworks necessary to integrate EnergyX’s energy intelligence technologies into large-scale infrastructure platforms.“Qatar presents a uniquely advanced ecosystem for deploying next-generation infrastructure technologies,” said Dandrieux.EnergyX (QFC) will act as the anchor for executing a targeted M&A and partnership strategy, consolidating Qatar’s energy optimisation value chain and scaling its platform in alignment with Qatar’s long-term development goals, he added.With over 2,000 projects completed across the globe and 285 proprietary intellectual property assets, EnergyX enables developers and building owners to transform real estate assets into energy self-sufficient, high-efficiency systems.EnergyX’s offerings are anchored in two core solutions — EnergyX Zero (AI-powered software and consulting for architectural design and operations) and EnergyX Systems (customisable Building-Integrated Photovoltaics) — enabling clients to meet global standards such as Zero-Energy Building (ZEB), LEED, RE100, and broader ESG (environment, social and governance) goals.

The local retail investors turned bullish as the 20-stock Qatar Index gained 0.12% to 10,532.25 points
Business
US-China trade talks lift QSE 12 points; Islamic equities outperform

The US-China trade talks instilled confidence among investors as the Qatar Stock Exchange (QSE) on Sunday opened the week with more than 12 points gains in index; even as capitalisation was rather seen flat.The local retail investors turned bullish as the 20-stock Qatar Index gained 0.12% to 10,532.25 points, although it touched an intraday high of 10,589 points.The insurance, real estate, industrials and consumer goods sectors witnessed higher than average demand in the main market, whose year-to-date losses truncated further to 0.37%.About 53% of the traded constituents extended gains to investors in the main bourse, whose capitalisation however remained rather flat at QR618.62bn amidst buying in microcap segments.The foreign individuals were increasingly net buyers in the main market, which saw as many as 1,918 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.02mn trade across six deals.The Gulf individual investors were also increasingly net buyers in the main bourse, whose trade turnover and volumes were on the decline.The Islamic index was seen outperforming the other indices of the main market, which saw no trading of treasury bills.The foreign funds continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.12%, the All Islamic Index by 0.35% and the All Share Index by 0.1% in the main market.The insurance sector index gained 0.56%, realty (0.38%), industrials (0.37%), consumer goods and services (0.31%) and banks and financial services (0.06%); while telecom and transport declined 0.7% and 0.22% respectively.Major movers in the main bourse included Qatar General Insurance and Reinsurance, Qatar Oman Investment, Lesha Bank, Al Faleh Educational Holding, Baladna, Salam International Investment, Al Mahhar Holding, Vodafone Qatar and Milaha. In the venture market, Techno Q saw its shares appreciate in value.Nevertheless, Ooredoo, Widam Food, Nakilat, Al Meera and AlRayan Bank were among the shakers in the main market.The Qatari retail investors turned net buyers to the tune of QR18.23mn compared with net sellers of QR3.38mn last Thursday.The foreign individual investors’ net buying increased noticeably to QR3.98mn against QR0.86mn the previous trading day.The Gulf retail investors were net buyers to the extent of QR1.38mn compared with net sellers of QR0.44mn on May 8.The domestic institutions’ net profit booking eased marginally to QR37.12mn against QR38.79mn last Thursday.However, the foreign institutions’ net buying weakened substantially to QR6.76mn compared to QR24.26mn the previous trading day.The Arab individual investors’ net buying weakened noticeably to QR4.57mn against QR10.3mn on May 8.The Gulf institutions’ net buying decreased perceptibly to QR2.21mn compared to QR7.19mn last Thursday.The Arab institutions had no major net exposure for the fourth straight session.The main market witnessed a 3% fall in trade volumes to 191.06mn shares, 23% in value to QR331.62mn and 49% in deals to 10,502.In the venture market, a total of 31,828 equities valued at QR0.01mn change hands across 15 transactions.

The foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.69% higher this week.
Business
QSE key index gains 72 points; M-cap adds QR3.61bn

Investors pinned hopes on the proposed US-China trade talks as the Qatar Stock Exchange (QSE) closed this week on a higher note with its key index gaining as much as 72 points and capitalisation add in excess of QR3bn.The foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.69% higher this week which saw Al Mahhar Holding Company evaluate two potential acquisition opportunities as part of its strategic growth agenda.The transport, real estate, banks and telecom counters witnessed higher than average demand this week which saw Fitch, a global credit rating agency, forecast Qatar to see a fiscal surplus of 2.5% and debt/GDP (gross domestic product) to remain broadly stable at 49% in 2025.The Arab retail investors were seen net buyers in the main bourse this week which saw the Qatar Central Bank maintain status quo in its interest rates, mirroring the US Federal Reserve’s decision.The local individuals’ weakened net profit booking had its influence on the main bourse this week which saw a Qatar Financial Centre report that said Islamic finance assets in the country reached QR694bn by the end of 2024, with Islamic banking and sukuk making up 97% of the total.More than 60% of the traded constituents extended gains to investors in the main market this week which saw a total of 0.1mn AlRayan Bank-sponsored exchange traded fund QATR worth QR0.22mn trade across 45 deals.The Gulf individuals’ lower net selling had its marginal effect on the main bourse this week which saw as many as 927 Doha Bank-sponsored exchange-traded fund QETF valued at QR0.01mn change hands across seven transactions.However, the domestic funds were seen net profit takers in the main market this week which saw no trading of sovereign bonds and treasury bills.The foreign individuals’ increased net profit booking had its impact on the main bourse this week which saw Lesha Bank's subsidiary Lesha Capital receives an “in-principle” approval from Saudi Arabia's Capital Market Authority to manage investments and operate funds and advising.The Islamic index was seen gaining slower than the other indices of the main market this week, which saw Elsewedy Cables Qatar, a subsidiary of Aamal Company, sign a QR1bn contract with Qatar General Electricity and Water Corporation.Market capitalisation added QR3.61bn or 0.59% to QR618.59bn on the back of mid and small cap segments this week which saw the industrials and banking sectors together constitute more than 61% of the total trade volumes.Trade turnover and volumes were on the decline in both the main and ventures markets this week.The Total Return Index was up 0.69%, the All Islamic Index by 0.59% and the All Share Index by 0.71% this week.The transport sector index surged 4.05%, realty (1.1%), banks and financial services (1.07%) and telecom (0.74%); whereas industrials declined 1.17%, insurance (1.07%) and consumer goods and services (0.11%) this week.Major movers in the main market included Vodafone Qatar, Lesha Bank, Nakilat, Doha Bank, Qatar General Insurance and Reinsurance, QNB, AlRayan Bank, Dukhan Bank, Qatari German Medical Devices, Salam International Investment, Widam Food, Qamco, United Development Company, Mazaya Qatar and Milaha this week.Nevertheless, Beema, Inma Holding, Qatar Insurance, Qatar Electricity and Water, QIIB, Ooredoo, Mannai Corporation, Qatari Investors Group and Industries Qatar were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value this week.The foreign institutions’ net buying increased noticeably to QR156.83mn compared to QR109.19mn the week ended May 1.The Gulf institutions turned net buyers to the tune of QR20.26mn against net profit takers of QR3.91mn the previous week.The Arab retail investors were net buyers to the extent of QR3.04mn compared with net sellers of QR23.15mn a week ago.The Qatari individual investors’ net selling declined substantially to QR41.31mn against QR91.98mn the week ended May 1.The Gulf retail investors’ net profit booking eased marginally to QR3.6mn compared to QR3.77mn the previous week.However, the domestic institutions turned net sellers to the tune of QR133.42mn against net buyers of QR14.98mn a week ago.The foreign individual investors’ net selling expanded perceptibly to QR1.81mn compared to QR1.3mn the week ended May 1.The Arab institutions had no major net exposure.The main market saw a 3% fall in trade volumes to 905.37mn shares, 6% in value to QR1.96bn and 12% in deals to 88,298 this week.In the venture market, trade volumes plummeted 86% to 0.02mn equities, value by 87% to QR0.05mn and transactions by 64% to 16.

Quoting the latest GDP data, Cushman and Wakefield Qatar said it confirms that the Qatari economy picked up at the end of last year as GDP grew by 6.3% year-on-year in the fourth quarter of 2024, owing to a supportive base and implying 2.6% expansion last year, above a 1.9% projection
Business
'Prime office rents will need to increase from current levels' as economy poised to expand fast: CWQ

Prime office rents will need to increase from the current levels with economy poised to expand fast, which also exerts pressure to grow for new office development in prime areas, according to Cushman and Wakefield Qatar (CWQ)."As the economy grows, we expect the case for new office development in prime locations to emerge," CWQ said in its latest report, adding to justify new development, prime office rents will need to increase from current levels.Quoting the latest GDP (gross domestic product) data, CWQ said it confirms that the Qatari economy picked up at the end of last year as GDP grew by 6.3% year-on-year in the fourth quarter of 2024, owing to a supportive base and implying 2.6% expansion last year, above a 1.9% projection.Ahead of the escalation in tariffs introduced by the US administration in April, Oxford Economics had raised its 2025 GDP growth forecast for Qatar to 2.6% and further to 5% in 2026. The upgrade to their near-term outlook reflected "better-than-expected" growth at the end of 2024 and positive activity indicators at the start of this year.The report highlighted that after several years of oversupply, the pipeline of new office development in Doha is “minimal”.While the availability of prime office space has reduced, this has yet to be reflected in rental growth across the board, it said, adding Prime CAT A office space typically commands rents between QR100 and QR140 per sq m per month, with larger floorplates of more than 1,000 sqm usually available for less than QR100 per sq m per month.Supply of modern office buildings in Lusail, West Bay, The Pearl Island and Msheireb Downtown has reached 3mn sq m; representing approximately 55% of all purpose-built office supply in Doha.The recent increase in the take-up of offices in prime areas has seen Grade A office availability fall to 10%, it said, adding overall availability in the office sector is estimated to be closer to 20%.Outside of West Bay, Lusail and Msheireb Downtown, the office market is relatively subdued, which is reflected in the lack of take-up and the quoted rents for available space.Office space in secondary locations can be secured for as little as QR50-60 per sq m per month, reflecting the high vacancies and low demand in some of these areas. In many older buildings, rents are inclusive of service charge contributions.Recent activity remains dominated by government bodies acquiring office space in Lusail and West Bay, with more than 150,000 sq m being leased in the past eighteen months.To reduce reliance on the public sector for office demand, Qatar has been promoting the growth of private sector through various initiatives.The Web Summit successfully inaugurated its Qatar edition in 2024 and held its second conference in February of this year. The first two Web Summit events have reportedly seen several companies, particularly those in e- commerce, payment solutions, and digital marketing, laying the groundwork for setting up in Qatar.In February 2025, HSBC joined a growing list of companies that announced relocating to MDD or Msheireb Downtown. The bank, which is moving headquarters to MDD, will occupy about 3,000 sq m.

Gulf Times
Business
Hotel apartments perform 'beyond expectations'; hospitality sector sees 41,000 keys: CWQ

The performance of hotel apartments has improved "beyond expectations" over the past year, even as the overall supply of hotel accommodation in Qatar surpassed 41,000 keys amid international visitors to the country crossing 5mn for the first time, according to Cushman and Wakefield Qatar (CWQ).The overall supply of hotel accommodation in Qatar has now surpassed 41,000 keys, representing a 3.7% increase in supply over twelve months, CWQ said in its latest report, unveiled Wednesday.Highlighting that supply remains dominated by luxury hotels; it said as many as 19,800 hotel rooms are classified as 5 Star, while only 3,038 hotel rooms in Qatar classified as 3 Star or below.International visitors to Qatar surpassed 5mn for the first time last year, reflecting demand for more than 10mn hotel nights, boosting hotel occupancy rates.Visitor arrivals reflected a 25% increase from 2023, with 41% of visitors coming from other GCC or the Gulf Co-operation Council countries, while 23% arrived from Europe.The growth in the tourism sector underpinned improved performance metrics for hotels, with overall occupancy for the year up by 11% to 68.8%, while overall average daily rates for the industry increased 8% to QR442.In March 2025, Qatar Tourism announced a record performance in the hotel sector in the first two months of this year. The number of hotel nights occupied in January and February reached 1.95mn, while the occupancy rate for hotels in February jumped to 81%, up from 69% in the same month last year. Over the entire quarter, the average occupancy rate was 71%, according to STR Global.Finding that the performance of hotel apartments has improved "beyond expectations" over the past year; it said the current supply, estimated to be 9,900 units, enjoyed occupancy of 74.6% in 2024, higher than any hotel star classification. It reflected an increase of 14% from 2023.Qatar Tourism's annual performance report for 2024 was released in the first quarter or Q1 of 2025 and provided details behind the encouraging headlines for the hotel sector that were released at the end of the year.The pipeline of upcoming hotel supply in Doha is relatively small, which could cause performance metrics to improve further if the upward curve in tourism is sustained, according to CWQ.The most noteworthy development proposal in Qatar's hotel sector is the Simaisma Project. On completion, the project led by the Ministry of Municipality and developed by Qatari Diar will include 16 resort hotels, a theme park, an international standard golf club, a yacht club and marina, and significant retail and restaurant provisions.

Gaurav Borikar, Executive Director, Al Asmakh Real Estate Development Company
Business
Better urban planning helps Qatar rewrite affordable housing narrative, says Al Asmakh official

Better urban planning helped Qatar rewrite its affordable housing narrative and avoid the trap of oversupply and commuter strain, as rental pressure eased up to 25–35% against 2014 benchmarks, according to a top official of Al Asmakh Real Estate Development Company.“Stability, with selective rental uplift in under-supplied, well-connected communities,” Gaurav Borikar, Executive Director, Al Asmakh Real Estate Development Company, told Gulf Times when asked about the outlook of the Qatar’s realty sector.Qatar’s residential real estate market is entering a mature, demand-led phase, marked by occupancy stability and clear pricing segmentation across submarkets.While residential supply has expanded steadily since FIFA 2022, market absorption and tenant preferences are now defining performance, he said, adding rents remain aligned with affordability thresholds.With fewer large-scale launches ahead and a shift toward liveability, he said the market is now in optimisation mode; where asset quality, service delivery, and integrated amenities define long-term value.Projects like Barwa Madinatna (with more than 6,700 units), Ezdan Oasis (8,700+ units), and the Ezdan Villages and surroundings across Al Wakra and Al Wukair (15,000+ units combined) didn’t just offer roofs; rather they offered residential ecosystems, according to him.In this regard, he highlighted zoned districts for families and singles; schools, clinics, mosques, supermarkets — built in; road infrastructure connected to growth zones and industrial corridors.Developments such as Barwa Madinatna, Ezdan Oasis, and Ezdan Villages, together serve a large portion of Qatar’s mid-income population, and are operating at more than 75% occupancy, he said. To Page 4

The foreign funds continued to be bullish but with lesser intensity as the 20-stock Qatar Index rose 0.28% to 10,484.46 points
Business
Ahead of Fed meet, QSE gains 29 points; M-cap adds QR2.46bn

Ahead of the US Federal Reserve’s meeting, the Qatar Stock Exchange (QSE) Tuesday gained about 29 points on the back of buying interests, especially in the telecom, banking, transport and consumer goods sectors.The foreign funds continued to be bullish but with lesser intensity as the 20-stock Qatar Index rose 0.28% to 10,484.46 points, although it touched an intraday high of 10,502 points.The Gulf retail investors were seen net buyers, albeit at lower levels, in the main market, whose year-to-date losses truncated to 0.82%.About 59% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR2.46bn or 0.4% to QR617.07bn on the back of midcap segments.The domestic institutions’ weakened net selling had its influence on the main market, which saw as many as 524 exchange traded funds (sponsored by AlRayan Bank) valued at QR1,212 trade across five deals.The local retail investors were seen net profit takers in the main bourse, whose trade turnover and volumes were on the increase.The Islamic index was seen outperforming the other indices of the main market, which saw no trading of treasury bills.The Gulf institutions turned net sellers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.28%, the All Islamic Index by 0.24% and the All Share Index by 0.36% in the main market.The telecom sector index gained 0.87%, banks and financial services (0.49%), transport (0.36%), consumer goods and services (0.25%) and industrials (0.05%); while real estate declined 0.24% and insurance 0.06%.Major gainers in the main bourse included Al Mahhar Holding, Vodafone Qatar, Qamco, Mazaya Qatar, Salam International Investment, QNB, Al Meera, Aamal Company, Estithmar Holding and Nakilat. In the venture market, Techno Q saw its shares appreciate in value.Nevertheless, Qatari Investors Group, Dukhan Bank, Baladna, Qatar German Medical Devices and Barwa were among the shakers in the main market.The Gulf retail investors were net buyers to the tune of QR0.12mn compared with net profit takers of QR0.42mn on Monday.The domestic institutions’ net selling decreased substantially to QR12.5mn against QR40.33mn the previous day.The foreign individual investors’ net selling eased marginally to QR0.09mn compared to QR1.1mn on May 5.However, the Qatari retail investors turned net sellers to the extent of QR12.2mn against net buyers of QR9.04mn on Monday.The Gulf institutions were net profit takers to the tune of QR1.57mn compared with net buyers of QR1.29mn the previous day.The Arab retail investors turned net sellers to the extent of QR0.66mn against net buyers of QR1.02mn on May 5.The foreign institutions’ net buying weakened perceptibly to QR26.9mn compared to QR30.41mn on Monday.The Arab institutions had no major net exposure against net buyers to the tune of QR0.1mn the previous day.The main market witnessed a 51% surge in trade volumes to 211.57mn shares, 12% in value to QR397.88mn and 42% in deals to 20,272.In the venture market, a total of 6,012 equities valued at QR0.02mn change hands across two transactions.

Gulf Times
Business
Qatar banks’ exposure to UK totals £4.8bn: CEBR

Qatari banks’ exposure to the UK totalled about £4.8bn with investments and credit facilities accounting for a significant portion of this exposure, according to the UK-based Centre of Economics and Business Research (CEBR).Transactions through Qatar-issued cards in the UK totalled £966mn during 2023 from more than 8.5mn transactions, reflecting the "significant" consumer spending, said CEBR in its report, which was recently unveiled here.The Qatar Central Bank (QCB) holds substantial investments in the UK, where the British pound (GBP) is the fifth-largest reserve currency in the QCB’s foreign reserve portfolio, amounting to £1.63bn (2.87% of its total foreign currency reserves), said CEBR report.The QCB has also maintained a gold custody account with the Bank of England for decades. As of November 2024, the QCB’s total investment in the UK stands at about £7.8bn, including £6.9bn in gold custody and £240.9mn in UK Treasury Notes.Furthermore, the QCB statistics on financial exchanges between the UK and Qatar highlight the significant scale of economic interactions between the two countries.Remittances from Qatar to the UK were at £303.3mn, sent by nearly 15,000 workers, underscoring the economic presence of the UK expatriates in Qatar and the role of remittances in supporting investment, savings, and consumption in the UK."The steady volume of remittances highlights the presence of a significant UK workforce in Qatar. Remittances often facilitate investments, savings, and consumption in the UK, further reinforcing bilateral financial engagement," the report said.The financial services sector was the only one in which Qatar made an investment and later divested during the 2008–22 study period. Qatar acquired a stake in the London Stock Exchange Group (LSEG) in 2009 and reduced its stake under the eligible threshold in 2019.LSEG proved to be one of Qatar’s most impactful investments on the UK economy. Between 2009 and 2019, the business generated £7.4bn in turnover and £5.1bn in gross value added, while supporting an average of 1,221 full time employment jobs, and paying employees £1.8bn in compensation.The report also said Qatar has committed up to £10bn over five years (starting in 2022) to invest in key UK sectors such as fintech, zero-emission vehicles, life sciences, and cybersecurity. This initiative is expected to drive economic growth, create high-quality jobs, and strengthen the bilateral relationship between the two countries.Qatar’s diverse UK portfolio includes major real estate developments, such as the upcoming Chancery Rosewood hotel in Mayfair (opening in 2025) and the redevelopment of 8 Canada Square into a sustainable mixed-use destination (beginning in 2027).Additionally, Qatar Investment Authority’s (QIA) £500mn investment in Severn Trent aims to enhance environmental performance and create 7,000 jobs across the Midlands, demonstrating Qatar’s sustained commitment to supporting regional development, innovation, and infrastructure enhancement in the UK.

A higher than average selling pressure especially in the industrials, banks and insurance sectors led the 20-stock Qatar Index shed 0.42% to 10,455.7 points
Business
QSE index sheds 44 points; M-cap melts QR2.21bn

A caution ahead of US-China trade talks and falling oil prices had their reflection on the Qatar Stock Exchange (QSE), which on Monday lost about 44 points in index and more than QR2bn in capitalisation.A higher than average selling pressure especially in the industrials, banks and insurance sectors led the 20-stock Qatar Index shed 0.42% to 10,455.7 points, although it touched an intraday high of 10,529 points.The domestic institutions were seen increasingly into net selling in the main market, whose year-to-date losses widened to 1.09%.More than 60% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR2.21bn or 0.36% to QR614.61bn on the back of midcap segments.The foreign individuals turned net profit takers in the main market, which saw no trading of exchange traded funds.The Gulf retail investors were seen bearish in the main bourse, whose trade turnover grew amidst lower volumes.The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.The Gulf institutions’ weakened net buying had its influence on the main bourse, which saw no trading of sovereign bonds.The Total Return Index fell 0.42%, the All Islamic Index by 0.47% and the All Share Index by 0.37% in the main market.The industrials sector index shed 0.74%, banks and financial services (0.47%), insurance (0.45%) and consumer goods and services (0.18%); while transport gained 0.51%, telecom (0.13%) and real estate (0.06%).Major losers in the main market included Qatar General Insurance and Reinsurance, Beema, QIIB, Lesha Bank, Ahlibank Qatar, Mannai Corporation, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Electricity and Water and Estithmar Holding.Nevertheless, Milaha, Widam Food, Baladna, Doha Insurance, Vodafone Qatar, Mazaya Qatar and Gulf Warehousing were among the gainers in the main bourse.The domestic institutions’ net selling increased substantially to QR40.33mn compared to QR13.26mn the previous day.The foreign individuals turned net sellers to the tune of QR1.1mn against net buyers of QR1.91mn on May 4.The Gulf retail investors were net profit takers to the extent of QR0.42mn compared with net buyers of QR1.31mn on Sunday.The Gulf institutions’ net buying decreased considerably to QR1.29mn against QR12.68mn the previous day.The Arab retail investors’ net buying weakened perceptibly to QR1.02mn compared to QR3.03mn on May 4.However, the foreign funds’ net buying strengthened significantly to QR30.41mn against QR7.99mn on Sunday.The Qatari retail investors were net buyers to the extent of QR9.04mn compared with net sellers of QR13.55mn the previous day.The Arab institutions turned net buyers to the tune of QR0.1mn against net profit takers of QR0.1mn on May 4.The main market witnessed a 20% slump in trade volumes to 140.31mn shares but on 4% jump in value to QR356.25mn and 12% in deals to 14,264.

Faisal Durrani, Partner – Head of Research, Middle East and North Africa, Knight Frank.
Business
Doha becoming magnet for global wealth: Knight Frank

Doha is becoming a magnet for global wealth as Qatar’s resilient economy, cross-sector opportunities and sovereign support put it on the radar of international realty investors, according to global property consultancy Knight Frank.In its latest Doha Wealth Hub Series report, Knight Frank said Doha emerges as leading wealth destination as the country's global appeal increases.The Qatari capital’s rising prominence is grounded in robust economic fundamentals and long-term national planning. Since the introduction of the Qatar National Vision 2030 in 2018, the country has been supercharged by an estimated $330bn in infrastructure and real estate investment.The recent launch of the government’s Third National Development Strategy (2024-30) signals a clear intent to diversify the economy further, attract foreign direct investment and strengthen Qatar’s global competitiveness.Qatar offers residency to foreign nationals through its residency by investment programme, commonly known as the Qatar Golden Visa. To qualify for permanent residency, foreign investors must invest at least QR3.6mn in eligible real estate projects."The public sector generally drives demand in Qatar's office market and 2024 saw a surge in leases by government ministries and state-owned enterprises in prime business districts. In Doha, Qatar Airways is planning to relocate its headquarters to the new $5.5bn Msheireb Downtown this year, solidifying the area's reputation as a premium business hub,” said Adam Stewart, Partner, Head of Qatar, Knight Frank.West Bay-Prime remains the most expensive office location, with monthly rents of QR105 per sq m, followed by Marina District (QR97 per sq m), which is attracting multinational firms from the finance, technology and professional services sectors.Office growth is underpinned by Qatar’s investment in world-class infrastructure, including the $36bn Doha Metro and $16bn Hamad International Airport, a global transit hub offering direct flights to more than 180 cities.Faisal Durrani, Partner – Head of Research, Middle East and North Africa, said despite its rapid development, Doha maintains low traffic congestion levels relative to many other global hubs, with ongoing investments in public transportation and smart city solutions preserving this enviable status."These qualities, combined with its cultural vibrancy, economic ambition and liveability, reinforce Doha’s growing status as a forward-looking global city," he added.Highlighting that Qatar’s economy continues to demonstrate resilience and stability, underpinned by strong fiscal fundamentals and ongoing diversification efforts; Knight Frank, quoting the International Monetary Fund, said in 2024, real GDP (gross domestic product) growth reached 2%, supported by solid performance in non-hydrocarbon sectors such as tourism, finance, construction and real estate.

The Gulf institutions were seen increasingly net buyers as the 20-stock Qatar Index rose 0.5% to 10,499.64 points
Business
QSE index gains 52 points; M-cap adds QR1.84bn

Reflecting the optimism on a potential resolution of the US-China trade dispute, the Qatar Stock Exchange (QSE) Sunday opened the week on a stronger note with its key index gaining more than 52 points and capitalisation adding about QR2bn.The Gulf institutions were seen increasingly net buyers as the 20-stock Qatar Index rose 0.5% to 10,499.64 points, although it touched an intraday high of 10,519 points.The transport and banking counters witnessed higher than average demand in the main market, whose year-to-date losses truncated to 0.68%.The Arab retail investors turned bullish in the main bourse, whose capitalisation added QR1.84bn or 0.3% to QR616.82bn on the back of mid and small cap segments.The foreign individuals were seen net buyers in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by AlRayan Bank) valued at QR0.05mn change hands across 14 deals.The foreign institutions continued to bet net buyers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the decline.The Islamic index was seen gaining slower than the other indices of the main market, which saw no trading of treasury bills.The domestic institutions were seen net profit takers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.5%, the All Islamic Index by 0.35% and the All Share Index by 0.4% in the main market.|The transport sector index shot up 1.24%, banks and financial services (0.82%) and real estate (0.07%); while insurance declined 0.86%, telecom (0.57%), consumer goods and services (0.3%) and industrials (0.28%).Major gainers in the main bourse included Nakilat, Qatar German Medical Devices, Doha Bank, Qatar Islamic Bank, Dukhan Bank, AlRayan Bank, Lesha Bank and Qamco.Nevertheless, about 51% of the traded constituents were in the red with major losers being Qatar General Insurance and Reinsurance, Commercial Bank, Qatar Electricity and Water, Qatar Insurance and Milaha.The Gulf institutions’ net buying increased considerably to QR12.68mn compared to QR3.63mn the previous trading day.The Arab retail investors were net buyers to the tune of QR3.03mn against net sellers of QR9.62mn last Thursday.The foreign individuals turned net buyers to the extent of QR1.91mn compared with net sellers of QR0.21mn on May 1.The Qatari retail investors’ net selling declined substantially to QR13.55mn against QR30.11mn the previous trading day.However, the domestic funds were net sellers to the extent of QR13.26mn compared with net buyers of QR6.75mn last Thursday.The Arab institutions turned net profit takers to the tune of QR0.1mn against no major net exposure on May 1.The foreign funds’ net buying declined significantly to QR7.99mn compared to QR28.13mn the previous trading day.The Gulf individual investors’ net buying weakened marginally to QR1.31mn against QR1.44mn last Thursday.The main market witnessed a 13% slump in trade volumes to 176.13mn shares, 22% in value to QR343mn and 27% in deals to 12,830.