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Capital Intelligence (CI) has assigned to Gulf Warehousing Company (GWC) first-time long- and short-term ratings on the Qatar national scale of ‘qaA-’ and ‘qaA2’, respectively with "stable" outlook."We see GWC as having a very sound financial profile. The company is by far the largest logistics services provider in Qatar, and it has a dominant market share in its home market," CI said in its latest report.Although geographical diversification is still limited at present, the relatively new Omani operation (Flag Logistics) is performing well, with scope for further expansion in the future – although there are no firm plans for this at present, it said.At home, the focus will increasingly be on improving margins by introducing higher value-added supply chain services, CI added.The end-2024 asset base was dominated by fixed assets in the form of PP&E (73.5%), capital work in progress (2.2%) and right of use assets (4.4%).The second largest asset class was net trade receivables at just 8.8%. With little additional capital expenditure planned in Qatar, the proportion of the asset base comprising fixed assets is expected to gradually decline going forward.The company has a solid capital base, and one that will shortly be bolstered as a result of the planned issue of a subordinated perpetual sukuk.Part of the proceeds of this issue is earmarked for the repayment of an existing QR300mn short-term borrowing. Other credit strengths include good cash flow and a dominant market position in the logistics sector in Qatar. This latter strength, however, means that achieving domestic volume growth could be a problem for GWC."GWC is, therefore, working to increase overall occupancy at its existing facilities in Qatar while at the same time seeking to grow the proportion of higher margin 3PL (third-party logistics) and 4PL (fourth-party logistics) revenues in its overall top line. This is important as freight-forwarding (FF) revenues normally carry lower margins than warehousing and supply chain management services," it said.The management is expecting the current year to be stronger as volumes build at the Oman operation and as 4PL volumes build in Qatar.Although this year could also see work commence on an Eastern province logistics operation in Saudi Arabia, this would be unlikely to contribute to revenues in 2025.Considering effective liquidity to be satisfactory; CI said once the existing ST borrowing has been repaid, the only ST debt exposure will be the current portion of LT debt (about QR340mn at end-2024).While the remainder of the sukuk issue proceeds is aimed at funding possible expansion into Saudi Arabia, this would take the form of a joint venture with a foreign partner, it said."In the meantime, these funds would remain on the GWC balance sheet as cash, with projected end-2025 cash balances showing a sharp increase as a result," it added.GWC does not hold investment securities. Instead, liquid assets are held in the form of cash.Given the nature of the business model, inventories are very low (less than 0.2% of total assets) but trade receivables are more significant at almost 9% of total assets, CI said, adding these are of high quality (given that the top five names are Qatar governmental or semi-governmental) and generally ST in tenor – although there are some concentrations by customer in both revenues and receivables.The ratio of liquid resources to ST debt was 0.27x at the end of 2024, while the liquidity coverage ratio was 0.9x.

Lack of clarity on the US’ tariff policies and regional geopolitical tensions had their impact on the Qatar Stock Exchange (QSE), which saw its key index plummet as much as 111 points and capitalisation melt in excess of QR5bn this week.More than 81% of the traded constituents were in the red as the 20-stock Qatar Index knocked off 1.07% this week which saw the listed companies cumulatively report net profit of QR51.17bn in 2024.The Arab individual investors were seen net profit takers in the main bourse this week which saw Lesha Bank acquire an indirect stake in Edinburgh Airport.The local retail investors were also seen bearish in the main market this week which saw Gulf Warehousing (GWC) sign strategic service agreement with Huwaei.The domestic institutions’ weakened net buying had its influence in the main bourse this week which saw a total of 0.13mn AlRayan Bank-sponsored exchange traded fund QATR worth QR0.29mn trade across 30 deals.The foreign funds continued to be net sellers but with lesser intensity in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.16mn change hands across 21 transactions.The insurance counter witnessed higher than average selling pressure in the main bourse this week which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the main barometer of the main market this week, which saw Knight Frank, a global property consultancy, find that leading international hotel brands accounted for 60% of Qatar's total 40,755 hotel rooms during 2024.Market capitalisation eroded QR5.14bn or 0.85% to QR600.7bn on the back of large and midcap segments this week which saw Mekdam Holding "aggressively" pursue opportunities within the QR3bn pipeline under negotiation as it seeks to strengthen its presence in high-growth sectors such as technology and engineering.Trade turnover and volumes were on the decrease in the main market; while the junior market’s trade volume and value were on the rise this week which saw no trading of treasury bills.The Total Return Index shrank 0.45%, the All Islamic Index by 0.62% and the All Share Index by 0.53% this week which saw the industrials and banking sectors together constitute about 57% of the total trade volumes.The insurance sector index plummeted 3.76%, industrials (1.05%), realty (1.01%), telecom (0.61%), consumer goods and services (0.39%) and banks and financial services (0.3%); while transport gained 0.71% this week which saw Moody’s report that said Qatar meets more than 40% of its total freshwater demand from desalination, with significant government subsidies to cover production costs.Major losers in the main market included Mekdam Holding, Commercial Bank, Qatar Islamic Insurance, Qatar General Insurance and Reinsurance, Qatar Cinema and Film Distribution, QIIB, AlRayan Bank, Dukhan Bank, Qatar Oman Investment, Qatari German Medical Devices, Salam International Investment, Mannai Corporation, Al Faleh Educational Holding, Qamco, Qatar Insurance, Mazaya Qatar, Barwa and Vodafone Qatar. In the junior bourse, Techno Q saw its shares depreciate in value this week.Nevertheless, Estithmar Holding, Milaha, GWC, Mesaieed Petrochemical Holding and Woqod were among the movers in the main bourse this week.The Arab individuals were net sellers to the tune of QR17.26mn against net buyers of QR11.83mn the week ended March 20.The Qatari retail investors turned net sellers to the extent of QR11.47mn compared with net buyers of QR26.7mn a week ago.The domestic institutions’ net buying declined noticeably to QR160.37mn against QR185.4mn the previous week.However, the Gulf funds were net buyers to the tune of QR42.48mn compared with net sellers of QR4.63mn the week ended March 20.The foreign individual investors’ net buying expanded markedly to QR11.52mn against QR2.55mn a week ago.The Gulf retail investors’ net buying strengthened marginally to QR1.78mn compared to QR0.75mn the previous week.The foreign institutions’ net selling decreased significantly to QR102.63mn against QR222.6mn the week ended March 20.The Arab funds had no major net exposure compared with net buyers to the extent of QR0.05mn a week ago.The main market witnessed a 32% plunge in trade volumes to 587.77mn shares, 29% in value to QR1.58bn and 48% in deals to 71,475 this week.In the venture market, trade volumes jumped more than nine-fold to 0.98mn equities and value by more than nine-fold to QR2.8mn on 11% jump in transactions to 41.

The listed companies in the main market have reported a total net profit of QR51.18bn in 2024 as consumer goods and transport sectors witnessed faster earnings expansion, according to data compiled by the Qatar Stock Exchange.Amidst challenging regional environment and interest rate rigidities, the listed companies’ net earnings shot up 8.7% year-on-year in 2024 against a 3.03% decline in the previous year.The 2024 net profitability improvement was seen despite declines in the earnings of real estate sector as well as slowdown in the net profit growth in the banking and telecom sectors. On an absolute basis, the banking sector remained the largest contributor at more than 59% in the review period.The consumer goods and services sector, which has 13 listed entities, saw its total net profit surge 10.74% year-on-year to QR1.67bn at the end of 2024 against a 4.73% decline in 2023. The sector contributed 3.26% to the overall net profitability in the review period against 3.21% in 2022.The transport sector, which has three listed constituents, saw total net profits grow 4.54% year-on-year to QR2.93bn compared to 4.14% in 2023. The sector’s net profit constituted 5.72% to the total net profit of the listed companies in 2024 against 5.95% the previous year.The industrials sector, which has 10 listed constituents, saw a 1.8% year-on-year shrinkage in net profits to QR9.27bn in 2024 compared to a 35.94% contraction in 2023. The sector contributed 18.11% to the overall net earnings of the listed entities in 2024 against 20.05% in 2023.Within the industrials sector, six of them, especially two underlying firms that have direct linkages with the hydrocarbons sectors, witnessed decline in net earnings owing to the subdued demand.The insurance sector, which has seven companies, registered net earnings of QR1.31bn in 2024 against net loss of QR0.36bn in 2023. The sector contributed 2.56% to the overall net profitability in 2024.Economic expansion, population growth, and mandatory insurance schemes will increase demand in most Gulf countries this year. Overall satisfactory underwriting results and relatively high interest rates will support earnings, according to Standard & Poor’s, a global credit rating agency.The Qatar Central Bank’s (QCB) Third Financial Sector Strategy had said plans were afoot to expand the product offerings such as life and health and to launch climate insurance as well as tailored insurance services for priority sectors as logistics and manufacturing.The banks and financial services sector, which has 13 listed entities, reported a 6% year-on-year jump in total net profit to QR30.31bn against a 7.64% expansion in 2023. The sector contributed 59.22% to the total net profits of the listed companies in January-December 2024 compared to 60.47% in 2023.The telecom sector, which has two constituents, reported a 13.52% jump year-on-year in net profit to QR4.04bn in 2024 against 24.22% growth in 2023. The sector had contributed 7.89% to total net profit in 2024 compared to 7.56% the previous year.The realty segment, which has four listed entities, saw total net earnings tank 3.61% year-on-year to QR1.7bn in 2024 against a 6.46% surge in 2023. The sector constituted 3.32% to the overall net profits in 2024 compared to 3.74% in 2023.The venture market, which had two listed entities, registered a total profit of QR0.06mn in 2024, showing a 24.09% surge on an annualised basis. However, one of them has migrated to the main market this year.

Qatar meets more than 40% of its total freshwater demand from desalination, with significant government subsidies to cover production costs, according to Moody's, an international credit rating agency.This reference was made in Moody's latest article 'Water management is a credit risk for one-third of sovereigns, many emerging markets', which otherwise found that the GCC (Gulf Co-operation Council) countries have been investing in water scarcity solutions since the 1980s, such as adopting desalination and wastewater reuse technologies to address extreme water stress.In the case of Saudi Arabia, which is the world's largest producer of desalinated water by volume, it said most of its water supply came from non-renewable underground sources.The UAE meets around 48% of its drinking water demand through desalination and continues to expand its capacity despite environmental costs, whereas Kuwait and Bahrain also rely heavily on desalination to address water stress.Finding that mitigation efforts will be costly but reduce credit risks over long run; it said governments with strong water management policies and procedures, and financing capacity will be able to better manage the consequences of water stress and avoid associated credit pressures.These are mainly GCC economies such as Bahrain, Qatar and the UAE, along with Singapore. Initiatives at the global level can also help address water management issues without putting too much of a burden on individual sovereigns' fiscal strength and liquidity buffers.According to Global Water Intelligence, Qatar has made "significant" strides in its water security strategy by embracing seawater reverse osmosis (SWRO) desalination technology. In just seven years, SWRO has emerged as a key contributor to Qatar's municipal water network, providing over 48% of the country's potable water needs.Qatar's National Environment and Climate Change Strategy (QNE), announced in 2021, recognises the need to rely on reverse osmosis as a sustainable technology in the region to produce more than 55% of desalinated water.The Qatar National Vision 2030 also has a particular focus on reducing consumption, improving conservation, and on the circular water economy, highlighting the value of research, development, and innovation (RDI) in implementing the Sustainable Development Goals (SDGs).Ras Abu Fontas A3 Seawater Reverse Osmosis desalination plant forms part of the Ras Abu Fontas Independent Water and Power Plant (IWPP) in south Doha. It has a capacity of 163MLD (million litres per day).Umm Al Houl Power (UHP) is another IWPP located at Qatar Economic Zone in Qatar. It was built with an MSF (multi-stage flash) desalination unit with a capacity of 455MLD and with a SWRO plant with a capacity of 280MLD whose construction started in 2015.

Reversing the bearish trend of the last five days, the Qatar Stock Exchange (QSE) on Wednesday gained more than 28 points on the back of buying support from domestic institutions.The real estate, telecom, consumer goods and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.28% to 10,185.78 points, although it touched an intraday high of 10,211 points.The foreign institutions were seen bullish in the main market, whose year-to-date losses truncated to 3.64%.As much as 75% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.85bn or 0.31% to QR598.29bn on the back of microcap segments.The foreign individuals were increasingly net buyers in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.07mn change hands across 10 deals.However, the Gulf funds 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 local individuals turned net sellers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index gained 0.28%, the All Share Index by 0.29% and the All Islamic Index by 0.62% in the main market.The realty sector index shot up 1.19%, telecom (0.98%), consumer goods and services (0.68%) and banks and financial services (0.45%); while transport declined 0.84%, industrials (0.05%) and insurance (0.01%).Major gainers in the main market included Qatari German Medical Devices, Inma Holding, Estithmar Holding, QIIB, Mesaieed Petrochemical Holding, United Development Company, Barwa and Vodafone Qatar.Nevertheless, Mekdam Holding, Dlala, Al Mahhar Holding, Beema and Nakilat were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.The domestic institutions’ net buying increased significantly to QR34.89mn compared to QR10.54mn on March 25.The foreign institutions turned net buyers to the tune of QR7.45mn against net sellers of QR23.89mn the previous day.The foreign individual investors’ net buying strengthened marginally to QR2.5mn compared to QR2.43mn on Tuesday.However, the Gulf institutions were net sellers to the extent of QR21.76mn against net buyers of QR4.81mn on March 25.The local individuals turned net sellers to the tune of QR12.86mn compared with net buyers of QR2.4mn the previous day.The Arab retail investors were net profit takers to the extent of QR10.12mn against net buyers of QR3.12mn on Tuesday.The Gulf individual investors turned net sellers to the tune of QR0.09mn compared with net buyers of QR0.59mn on March 25.The Arab institutions had no major net exposure for the fifth straight session.The main market witnessed a 7% jump in trade volumes to 135.03mn shares, 24% in value to QR390.16mn and 28% in deals to 18,834.In the junior bourse, trade volumes grew almost five-fold to 35,186 equities and value also by almost five-fold to QR0.1mn on doubled transactions to eight.

Reflecting the chaos arising from lack of clarity over the US’ reciprocal tariff policy, the Qatar Stock Exchange (QSE) continued to be under selling pressure for the fifth straight session and its key index settled below 10,200 levels.The insurance, telecom, consumer goods, industrials, realty and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 28 points or 0.28% to 10,157.56 points, having touched an intraday high of 10,223 points.The foreign institutions continued to be net profit takers but with lesser intensity in the main market, whose year-to-date losses widened further to 3.91%.As much as 74% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.72bn or 0.29% to QR596.44bn on the back of small and microcap segments.The domestic institutions’ weakened net buying had its influence in the main market, which saw as many as 3,697 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn change hands across four deals.The local retail investors’ lower net buying also had its say in 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 Gulf individuals’ weakened net buying had its impact on the main bourse, which saw no trading of sovereign bonds.The Total Return Index declined 0.28%, the All Share Index by 0.27% and the All Islamic Index by 0.38% in the main market.The insurance sector index tanked 1.18%, telecom (0.93%), consumer goods and services (0.75%), industrials (0.73%), real estate (0.62%) and transport (0.51%); while banks and financial services gained 0.15%.Major losers in the main bourse included Mekdam Holding, Qatari German Medical Devices, Vodafone Qatar, Al Faleh Educational Holding, Qatar Insurance, Industries Qatar, Aamal Company, Qatari Investors Group, Qamco, United Development Company and Ezdan. In the venture market, Techno Q saw its shares depreciate in value.Nevertheless, Al Mahhar Holding, Estithmar Holding, Gulf Warehousing, Masraf Al Rayan and Meeza were among the gainers in the main market.The domestic institutions’ net buying decreased significantly to QR10.54mn compared to QR41.45mn on March 24.The local individual investors’ net buying weakened noticeably to QR2.4mn against QR20.31mn the previous day.The Gulf retail investors’ net buying eased marginally to QR0.59mn compared to QR0.83mn on Monday.However, the Gulf institutions were net buyers to the tune of QR4.81mn against net sellers of QR9.87mn on March 24.The Arab individuals turned net buyers to the extent of QR3.12mn compared with net sellers of QR2.5mn the previous day.The foreign individual investors’ net buying strengthened marginally to QR2.43mn against QR2.03mn on Monday.The foreign institutions’ net profit booking weakened drastically to QR23.89mn compared to QR52.25mn on March 24.The Arab institutions had no major net exposure for the fourth straight session.The main market witnessed 5% jump in trade volumes to 126.69mn shares and 3% in value to QR313.42mn but on less than 1% shrinkage in deals to 14,749.In the junior bourse, trade volumes plummeted 70% to 7,444 equities; value by 70% to QR0.02mn and transactions by 43% to four.

Mekdam Holding is “aggressively” pursuing opportunities within the QR3bn pipeline under negotiation as it seeks to strengthen its presence in high-growth sectors such as technology and engineering.“As Mekdam Holding Group looks ahead to 2025 and beyond, the focus remains on accelerating profitability, expanding market reach, and enhancing financial sustainability,” the Qatar Stock Exchange listed entity said in its board report, placed before shareholders at the annual general assembly meeting, which approved 2024 results and the bonus shares.On strengthening the presence in high-growth sectors, Mekdam said it included technology services, engineering solutions, and security systems so as to ensure steady revenue growth and diversification.“As we look to the future, we are motivated by the remarkable strength and resilience of the Qatari economy, which continues to evolve and unlock vast opportunities across a wide range of sectors,” said Sheikh Mohamed bin Nawaf bin Nasser bin Khalid al-Thani, Mekdam Holding chairman.The company, which is leveraging strong backlog of secured contracts (QR2.6bn), said its subsidiaries possess several key advantages that position them to capitalise on local, regional, and international trends within the information, communication and technology or ICT sector.Some of these opportunities arise from the macroeconomic factors, while others are directly tied to the subsidiaries’ unique competitive strengths, the report said.In 2024, Mekdam signed new contracts totalling QR861mn, with ongoing projects valued at QR2.6bn. The remaining value of works to be completed is QR1.5bn. The company has submitted proposals for projects amounting to approximately QR3bn, with an expected success rate of 20% to 30%, based on historical data.The subsidiaries – Mekdam Technology Solutions, Mekdam Software, and Mekdam CAMS – have established strong relationships with government agencies, with government contracts accounting for 58.6% of their revenue in 2024.“Given their size, the quality and diversity of their services, and their strategic positioning, the subsidiaries are well-placed to take full advantage of the growing demand and evolving requirements in the ICT sector,” it said.The perceived market opportunities for the subsidiaries are growth of the Qatari economy, alignment with Qatar Vision 2030 and its emphasis on ICT development, increasing awareness of cybercrime and the need for enhanced security, demand for businesses to stay aligned with cutting-edge technologies, such as automation, robotics, cloud computing, and shortage of qualified personnel in the ICT sector.The company is aiming not only to further optimise capital structure and reduce financial liabilities, reinforce self-sustaining operational capabilities but also to maximise cash flow generation through efficient receivables management and project execution.Mekdam Holding is strengthening its financial flexibility to ensure that the group is well-positioned for strategic investments and shareholder returns.

Geopolitical uncertainties in the region and the US’ tariff policies continued to play its part in dampening sentiments in the Qatar Stock Exchange (QSE), which on Monday closed below 10,200 levels with selling pressure seen the most in telecom and industrials counters. The foreign funds squared off their position as the 20-stock Qatar Index shed 82 points or 0.8% to 10,185.7 points, having touched an intraday high of 10,301 points. The Gulf institutions were seen increasingly net profit takers in the main market, whose year-to-date losses widened further to 3.65%. About 68% of the traded constituents were in the red in the main bourse, whose capitalisation eroded QR4.46bn or 0.74% to QR598.16bn on the back of large and midcap segments. The Arab individuals were increasingly net sellers in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.08mn change hands across seven deals. However, the domestic funds were seen increasingly bullish in the main bourse, whose trade turnover and volumes were on the rise. The Islamic index was seen declining slower than the main barometer of the main market, which saw no trading of treasury bills. The local retail investors turned net buyers in the main bourse, which saw no trading of sovereign bonds. The Total Return Index declined 0.8%, the All Share Index by 0.72% and the All Islamic Index by 0.75% in the main market. The telecom sector index tanked 1.95%, industrials (1.8%), banks and financial services (0.74%), real estate (0.67%) and insurance (0.42%); while transport gained 0.53% and consumer goods and services 0.03%. Major losers in the main market included Qatar Cinema and Film Distribution, Ooredoo, Al Faleh Educational Holding, QIIB, Dukhan Bank, Qatar Oman Investment, Qatari German Medical Devices, Mannai Corporation, Industries Qatar, Aamal Company and Qatari Investors Group. In the junior bourse, Techno Q saw its shares depreciate in value. Nevertheless, Estithmar Holding, QLM, Zad Holding, Ezdan, Gulf Warehousing and Qamco were among the gainers in the main market. The foreign institutions’ net profit booking increased drastically to QR52.25mn compared to QR1.23mn on March 23. The Gulf institutions’ net selling strengthened noticeably to QR9.87mn against QR7.24mn the previous day. The Arab individual investors’ net selling expanded marginally to QR2.5mn compared to QR2mn on Sunday. The foreign retail investors’ net buying weakened marginally to QR2.03mn against QR2.65mn on March 23. However, the domestic funds’ net buying strengthened significantly to QR41.45mn compared to QR19.83mn the previous day. The local individuals turned net buyers to the tune of QR20.31mn against net sellers of QR12.51mn on Sunday. The Gulf retail investors’ net buying strengthened marginally to QR0.83mn compared to QR0.5mn on March 23. The Arab institutions had no major net exposure for the third straight session. The main market witnessed 36% surge in trade volumes to 120.78mn shares, 45% in value to QR305.23mn and 79% in deals to 14,754. In the junior bourse, trade volumes were down 4% to 0.02mn equities and value by 4% to QR0.06mn amidst flat seven transactions.

Leading international hotel brands accounted for 60% of Qatar's total 40,755 hotel rooms during 2024, according to Knight Frank, a global property consultancy."As of the end of 2024, Qatar’s total supply of quality hotel rooms stood at approximately 40,755 keys, with internationally branded properties accounting for 60% of this inventory," Knight Frank said in its latest report.The global brands’ growing exposure highlights the international appeal of the country, which according to the UN Tourism, has ‘emerged as the dominant force’ in the Middle East tourism market.The recently held 51st UN Tourism Regional Commission for the Middle East underscores Qatar’s growing status as a regional and global hub in the tourism sector and its leadership role in promoting both regional and international co-operation.The total number of visitors to Qatar reached 5.08mn during 2024, reflecting a 25% increase on an annualised basis.The successful hosting of the FIFA World Cup has positioned Qatar as a key regional and global tourist destination.Highlighting that December alone witnessed as many as 594,079 visitors, marking a 14.6% year-on-year rise; Amar Hussain, Associate Partner (Research, Middle East) said, this surge underscores Qatar’s growing appeal as a tourism destination, driven by enhanced infrastructure, global events, and continued investments in hospitality and leisure sectors.As a result of the increased influx of tourists, the hotel performance indicators in Qatar improved steadily in 2024, he added.The average daily rates (ADR) increased by 7.9% to QR441, while average occupancy levels rose by 19.1% to 68.8%. As a result, revenue per available room (RevPAR) shot up 28.5% to QR304.On retail sector, Knight Frank report said luxury and experience-driven retail continue to dominate, with high-end malls maintaining high occupancy levels despite some downward rent adjustments.Secondary malls are facing challenges, as newer lifestyle destinations like Lusail Boulevard and The Pearl attract more tenants.E-commerce growth is also reshaping retail strategies, with Qatar’s online sales surpassing QR4.1bn in December 2024, marking an annual 32.2% increase, highlighting the emerging challenge for bricks and mortar stores.Qatar’s retail market, otherwise, experienced a 1.5% decline in average annual lease rates, bringing the average rate to QR204 per sq m per month."This reflects ongoing adjustments in rental pricing mainly due to increased supply," thecreport said.Lifestyle retail developments in prime locations command the highest rents at QR243 per sq m per month, driven by strong demand for premium brands and high consumer footfall.While, lifestyle retail food and beverage follows closely at QR242 per sq m per month, highlighting the steady demand for experiential dining and entertainment-driven retail, the report said.

Reflective of the risk aversion in view of the region's geopolitical uncertainties, the Qatar Stock Exchange (QSE) Sunday lost 76 points in key index and more than QR3bn in capitalisation.The local retail investors were seen increasingly net sellers as the 20-stock Qatar Index shed 0.7% to 10,267.61 points, although it touched an intraday high of 10,344 points.The Gulf institutions turned net profit takers in the main market, whose year-to-date losses widened further to 2.87%.About 62% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR3.22bn or 0.53% to QR602.62bn on the back of mid and small cap segments.The Arab individuals were seen bearish in the main market, which saw as many as 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn change hands across 10 deals.The foreign funds continued to be net profit takers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the decline.The Islamic index was seen declining slower than the other indices of the main market, which saw no trading of treasury bills.The domestic institutions’ weakened net buying had its influence in the main bourse, which saw no trading of sovereign bonds.The Total Return Index declined 0.36%, the All Share Index by 0.39% and the All Islamic Index by 0.19% in the main market.The banks and financial services sector index shed 0.77%, insurance (0.69%) and real estate (0.28%); while telecom gained 0.41%, transport (0.14%) and industrials (0.03%). The index of consumer goods and services was rather flat.Major losers in the main market included Commercial Bank, QLM, Qatari Investors Group, Salam International Investment, Widam Food, Qatar Islamic Bank, Alijarah Holding, Dlala and Estithmar Holding. In the junior bourse, Techno Q saw its shares depreciate in value.Nevertheless, Aamal Company, Vodafone Qatar, Milaha, Al Faleh Educational Holding and Mesaieed Petrochemical Holding were among the gainers in the main market.The local individuals turned net sellers to the tune of QR12.51mn compared with net buyers of QR8.97mn on March 20.The Gulf institutions were net sellers to the extent of QR7.24mn against net buyers of QR0.89mn the previous trading day.The Arab individual investors turned net profit takers of QR2mn compared with net buyers of QR2.47mn last Thursday.The domestic institutions’ net buying decreased significantly to QR19.83mn against QR30.01mn on March 20.The foreign individuals’ net buying weakened markedly to QR2.65mn compared to QR4.86mn the previous trading day.However, the Gulf retail investors’ net buying strengthened marginally to QR0.5mn against QR0.24mn last Thursday.The foreign institutions’ net profit booking weakened drastically to QR1.23mn compared to QR47.44mn on March 20.The Arab institutions had no major net exposure for the second straight session.The main market witnessed 44% plunge in trade volumes to 88.96mn shares, 66% in value to QR210.98mn and 51% in deals to 8,253.The junior bourse saw as many as 0.03mn equities valued at QR0.07mn change hands across seven transactions.

Qatar's consumer price index (CPI) inflation is expected to average to 1.6% in 2025 compared to 1.1% the previous year, according to the Institute of Chartered Accountants of England and Wales (ICAEW) report."Our 2025 average inflation forecast remains at 1.6%, up from 1.1% last year. Survey data suggest inflation was mild in January, as firms absorb rising input costs rather than pass them on to consumers as they prioritise increasing sales volume," said the ICAEW report, prepared by Oxford Economics.According to the latest Article IV report on the country, the International Monetary Fund had said Qatar's headline inflation will likely ease to 1% in 2024 and converge to around 2% over the medium term.The ICAEW report said policy easing by the Qatar Central Bank (QCB) will now be slower, as it thinks the US Federal Reserve will hold policy steady until December, when it expects a 25 bps (basis points) rate cut. "This is down from our previous forecast of three rate cuts this year," it added.The IMF had said inflation (in Qatar) declined from 5% in 2022 to 3% in 2023 (period average). It decelerated further to 1.2% in 2024 through October as rent and recreation services inflation weakened. Producer price and wage inflation remained contained.Forecasting that the aggregate GCC (Gulf Co-operation Council) inflation projection for 2025 remains at 2.3%; ICAEW said "we see inflation stabilising around 2% in the medium-term".Recent readings show inflation is below 1% in Bahrain, Oman and Qatar, while in Saudi Arabia, the region’s largest economy, inflation averaged 1.7% in 2024, driven almost exclusively by upward pressure from housing rents.Housing prices are also pushing inflation up in Dubai, where inflation readings have hovered around 3%, but this is offset but much lower readings in other emirates. At 2.9%, Kuwait had the highest inflation rate in the region in 2024.Inflation in Bahrain has remained low, averaging 0.9% in 2024, with prices of food and restaurant hotels being the key driver of upward pressure, ICAEW said, adding "we think prices will rise to 2.8% this year, which may hinder consumer spending, before stabilising around 2% in the medium-term."Finding that policy easing by GCC central banks will now slow against the backdrop of US dollar-pegged currencies; the report said the US Federal Reserve delivered a cumulative 100bps of cuts in 2024 before pausing in January and "we now think it will hold policy steady until December, when we expect a 25 bps rate cut."Consequently, the recent pick-up in lending growth may lose momentum in the near-term, albeit remaining supportive for non-energy sector growth, it added.

Escalating regional geopolitical tensions had its impact on the Qatar Stock Exchange (QSE), which saw its key index lose as much as 80 points and capitalisation melt around QR3bn this week.The foreign funds squared off their position as the 20-stock Qatar Index shed 0.76% this week, which saw the Qatar Central Bank keep the rates unchanged, following the US Federal Reserve’s move to maintain status quo on its benchmark rates.The banking and telecom counters witnessed higher than average selling pressure in the main bourse this week which saw a PricewaterhouseCoopers report that said Qatar's $500mn funding deal to expand artificial intelligence and data centre infrastructure would strengthen Middle East's digital transformation.The domestic institutions’ weakened net selling had its influence on the main market this week which saw the Institute of Chartered Accountants of the England and Wales (ICAEW) report that forecast Qatar's economy to expand by 2.1% this year with growth expected to more than double in 2026 as additional liquefied natural gas capacity comes online.The local individual investors’ lower net buying also had its say on the main bourse this week which saw a total of 0.05mn AlRayan Bank-sponsored exchange traded fund QATR worth QR0.11mn trade across 21 deals.The foreign retail investors’ net buying was seen slackening in the main market this week which saw as many as 0.02mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.17mn change hands across 23 transactions.The Gulf institutions continued to be net profit takers but with lesser intensity in the main bourse this week which saw no trading of sovereign bonds.The Islamic index was seen declining slower than the other indices of the main market this week, which saw Barwa outline its 2025 strategic plan that will help increasing revenues – including commencing development of the Madinatna Schools project and the first phase of the Barwa Hills project – and rationalising expenditures.Market capitalisation eroded QR2.96bn or 0.49% to QR605.84bn on the back of small and microcap segments this week which saw Nakilat celebrate steel cutting ceremony marking the commencement of construction of six gas carriers at HD Hyundai Samho (HSHI) shipyard in South Korea.Trade turnover and volumes were on the increase in the main market; while the junior market’s trade volume and value were on the decline this week which saw no trading of treasury bills.The Total Return Index shrank 0.64%, the All Islamic Index by 0.39% and the All Share Index by 0.58% this week which saw the consumer goods, real estate and banking sectors together constitute more than 72% of the total trade volumes.The banks and financial services sector index tanked 1.33%, telecom (0.89%) and insurance (0.27%); while consumer goods and services gained 1.1%, realty (0.7%), transport (0.27%) and industrials (0.26%) this week which saw Techno Q, celebrating the 29th anniversary this year, all set make further inroads into the neighbouring countries as it seeks to strengthen its position as the region's leading systems integrator.Major losers in the main market included Mannai Corporation, Qatari Investors Group, Al Khaleej Takaful, Beema, QIIB, QNB, Qatar Islamic Bank, Doha Bank, Doha Insurance, Qatar Insurance and Ooredoo this week which saw the ICAEW view that Doha's recent transformative strategies – including the revamp of bankruptcy laws and public private partnership (PPP) – will help "unlock" stronger inflows of foreign direct investments.Nevertheless, about 60% of the traded constituents in the main bourse extend gains with major movers being Qatar German Medical Devices, Estithmar Holding, Medicare Group, Al Faleh Educational Holding, Qatar Islamic Insurance, Lesha Bank, Dukhan Bank, Salam International Investment, Widam Food, Aamal Company, Mesaieed Petrochemical Holding and Qamco.In the venture market, Techno Q saw its shares appreciate in value this week.The foreign institutions’ net selling increased significantly to QR222.6mn compared to QR170.13mn the week ended March 13.The domestic institutions’ net buying declined noticeably to QR185.4mn against QR210.2mn the previous week.The Qatari individual investors’ net buying weakened perceptibly to QR26.7mn compared to QR30.64mn a week ago.The foreign retail investors’ net buying shrank markedly to QR2.55mn against QR12.02mn the week ended March 13.The Gulf individual investors’ net buying eased marginally to QR0.75mn compared to QR1.77mn the previous week.However, the Arab retail investors turned net buyers to the tune of QR11.83mn against net sellers of QR10.83mn a week ago.The Arab funds were net buyers to the extent of QR0.05mn compared with no major net exposure the week ended March 13.The Gulf institutions’ net profit booking declined drastically to QR4.63mn against QR73.38mn the previous week.The main market witnessed a 22% surge in trade volumes to 861.14mn shares and 16% in value to QR2.22bn on more than doubled deals to 137,814 this week.In the venture market, trade volumes plummeted 75% to 0.11mn equities, value by 75% to QR0.31mn and transactions by 65% to 37.

Rising geopolitical tensions on Wednesday had its reflections on the Qatar Stock Exchange, which closed 77 points lower as more than 69% of the stocks were in the red.The foreign institutions hurriedly squared off their position as the 20-stock Qatar Index shed 0.73% to 10,384.72 points although it touched an intraday high of 10,465 points.The banks and telecom counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened to 1.76%.The Gulf institutions continued to be bearish but with lesser vigour in the main bourse, whose capitalisation melted QR4.74bn or 0.77% to QR607.83bn on the back of midcap segments.The domestic funds were seen increasingly net buyers in the main market, which saw as many as 2,189 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn change hands across seven deals.The local retail investors turned bullish in the main bourse, whose trade turnover and volumes were on the decline.The Islamic index was seen declining slower than the other indices of the main market, which saw no trading of treasury bills.The Arab individuals were increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index declined 0.62%, the All Share Index by 0.68% and the All Islamic Index by 0.57% in the main market.The banks and financial services sector index tanked 1.23%, telecom (0.91%), consumer goods and services (0.39%), insurance (0.1%) and realty (0.09%); while transport gained 0.54%. The industrials index was flat.Major losers in the main market included Qatari Investors Group, Qatar German Medical Devices, QIIB, Qatar Oman Investment, Meeza, QNB, Qatar Islamic Bank, Dukhan Bank, Lesha Bank and Ooredoo.In the juniour bourse, Techno Q saw its shares depreciate in value.Nevertheless, Qatar General Insurance and Reinsurance Group, Al Faleh Educational Holding, Estithmar Holding, Baladna, Vodafone Qatar, Nakilat and Milaha were among the gainers in the main bourse.The foreign institutions’ net selling increased substantially to QR104mn compared to QR31.22mn on March 18.The foreign individual investors’ net selling expanded noticeably to QR3.83mn against QR0.5mn on Tuesday.However, the domestic funds’ net buying strengthened significantly to QR63.54mn compared to QR41.19mn the previous day.The local individuals turned net buyers to the tune of QR31.96mn against net profit takers of QR3.98mn on March 18.The Arab individual investors’ net buying increased markedly to QR9.85mn compared to QR0.07mn on Tuesday.The Gulf retail investors were net buyers to the extent of QR3.29mn against net sellers of QR0.48mn the previous day.The Arab institutions turned net buyers to the tune of QR0.01mn compared with no major exposure on March 18.The Gulf institutions’ net profit booking weakened drastically to QR0.81mn against QR5.07mn on Tuesday.The main market witnessed a 31% shrinkage in trade volumes to 155.34mn shares, 2% in value to QR465.41mn and 35% in deals to 25,408.In the venture market, trade volumes tanked 66% to 0.01mn equities, value by 66% to QR0.04mn and transactions by 69% to 4.

The Middle East commercial aviation market is expected to trend upward, supported by a growing demand for air travel, budget carriers entering the market, and significant aircraft orders, according to Oliver Wyman, a leading international management consulting firm.The region’s fleet is projected to grow at an annual 5.1%, driven primarily by narrow bodies; it said its latest report.In a region where wide bodies have long dominated, the report said narrow bodies will climb from 43% to 47% of the fleet over the decade, equalling wide bodies’ share of the fleet.Representing just over 60% of this market, Saudi Arabia and the UAE are leaders of this growth in the region, with carriers in each serving the market differently.In Saudi Arabia, domestic flying makes up 45% of seats whereas the UAE air travel is solely based on international traffic. Both countries have plans to significantly grow and monetise their aviation-related assets.In Saudi Arabia, the Vision 2030 plan seeks to diversify the economy through investment, especially targeting growth in tourism.The next largest is Qatar, representing another 15% of the market, it said, adding the market has essentially doubled its capacity every six years.Despite this growth, the region has struggled with profitability given the competitive nature of the market and the domination of Emirates and Qatar Airways in the region, particularly when it comes to product offerings.The global fleet is projected to exceed 38,300 aircraft by 2035, with production challenges prompting airlines to delay retiring older planes, pushing up the average age of the fleet. Narrow body aircraft will continue to dominate the future fleet, with the share increasing from 62% to 68% by 2035.North America will continue to remain the largest market, but emerging regions like China, India, and the Middle East are expected to capture a larger share, highlighting the shifting dynamics in the global aviation sector, according to the report.The Middle East will continue to see its global maintenance, repair and overhaul (MRO) market share increase, driven by a large order book, especially for the narrow body A320 and 737 MAX aircraft.Legacy wide body fleet types, such as the A380 and 777, will raise MRO demand, along with new entrants including the A350 and 777X.While currently comparable in market size to Asia’s MRO demand, MRO in the Middle East will grow at a slightly more modest annual rate of 2.4% over the next 10 years, the report said.Despite this lower rate, the (Middle East) region will gain 25% in market size by the end of the forecast period.

Doha’s recent transformative strategies – including the revamp of bankruptcy laws and public private partnership (PPP) – will help “unlock” stronger inflows of foreign direct investment (FDI), according to the Institute of Chartered Accountants of the England and Wales (ICAEW).“The planned revamp of key laws governing bankruptcy and PPP will likely help unlock stronger FDI inflows in support of non-energy expansion,” the ICAEW said in its latest report.Highlighting that authorities continue to take steps to attract investment and broaden diversification; it said in the last month, the government unveiled a 50% discount on business rates in industrial, logistics and commercial zones, slashed start-up fees within the Qatar Financial Centre, and launched a Digital Skills Framework, all aligned with the National Development Strategy.The country plans to introduce three new laws as part of a sweeping review of legislation designed to make Qatar more attractive to foreign investors, the Minister of Commerce and Industry HE Sheikh Faisal bin Thani bin Faisal al-Thani had said in an interview to Reuters news agency.The Ministry of Commerce and Industry (MoCI), in collaboration with the Qatari Economic Zones Company (Manateq), has reduced leasing rates up to 50% for five years in industrial, logistics, and commercial zones.More than 4,000 investors will benefit from the reduced rental prices. The decision applies to Jery Al Samur Logistics Park, Small and Medium Industries Zone, Al Wakra Logistics Park, Aba Saleel Logistics Park, Mesaieed Industrial Zone, and Birkat Al Awamer Logistics Park.The QFC has implemented a substantial reduction in the application fee for licensing an entity on its platform, dropping it from $5,000 to $500. The new fee structure applies to all applicants seeking a license to conduct non-regulated activities in the QFC, except for the activities of single family offices.The digital skills framework, developed by the Ministry of Communications and Information Technology, is designed to empower individuals and organisations with essential skills to support Qatar’s digital transformation.

Qatar's economy is slated to expand by 2.1% this year, with growth expected to more than double in 2026 as additional LNG (liquefied natural gas capacity) comes online, the Institute of Chartered Accountants of England and Wales (ICAEW) has said in its latest report.Estimating that the economy to have grown by 1.9% last year, it said the recent third quarter (Q3) gross domestic product (GDP) revealed output grew by 2% year-on-year, lifting the expansion in the first three quarters of last year to 1.4%.The near-term outlook for the energy sector remains weak and expected to grow by just 0.6% this year, it said, adding this will still be an improvement on last year – weak industrial production data for Q4 (fourth quarter) confirm energy output likely contracted overall, according to the report.The oil output has been relatively flat in recent years at around 600,000 barrels per day. However, the North Field gas expansion project will have a positive medium-term impact as the LNG capacity is raised to 126mn tonnes per annum or Mtpa in 2027, from 77 Mtpa currently.The report projected the non-energy economy will grow by 2.9% this year, remaining the primary growth engine and mitigating weakness in industry.Overall, the non-energy sectors continued to drive growth, boosting the expansion in the first three quarters to 2.9% y/y, while the continued decline in energy sector output resulted in a contraction to 1.1% over the same period.Tourism has provided significant support to non-energy growth and will remain a driver of future activity and employment, the ICAEW said.Data show the number of foreign arrivals neared 4.5mn last year up to November amid sustained double-digit annual growth."We estimate overnight arrivals reached 5mn by end-2024, a 23% increase on 2023 and 134% higher than 2019 levels. The launch of the pan-GCC (Gulf Cooperation Council) visa will likely help extend the positive performance this year, lifting the number of arrivals to 5.3mn," according to the report.Forecasting fiscal surplus of QR27.3bn (3.3% of GDP), it said this is a significantly better outcome than the deficit of QR13.2bn penciled into this year's budget.Given this projected gap and a nearing maturity, Qatar returned to debt markets this month, raising $3bn in a double-tranche, oversubscribed transaction.The bonds will not be included in the universally tracked emerging market bond index, following a recent reclassification to a developed market from an emerging markets status.The goods trade surplus remained wide in 2024, although it narrowed to $59.2bn from $66.3bn a year earlier, reflecting slightly weaker exports and stronger imports."We expect the surplus to widen modestly this year, which underpins the broader external surplus projection for 2025 of $34bn (14.9% of GDP).

The domestic institutions’ increased buying support on Tuesday helped the Qatar Stock Exchange stay afloat in the positive trajectory with its key index gaining as much as 58 points and capitalisation add more than QR2bn.An across the board buying, particularly in the transport, was instrumental in lifting the 20-stock Qatar Index 0.55% to 10,461.48 points, recovering from an intraday low of 10,395 points.The local retail investors’ wakened net selling had its influence in the main market, whose year-to-date losses truncated to 1.04%.About 69% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR2.41bn or 0.39% to QR612.57bn on the back of small and microcap segments.The Gulf individuals’ lower net profit booking had its say in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn change hands across six deals.However, the foreign funds were seen increasingly bearish in the main bourse, whose trade turnover and volumes were on the rise.The Islamic index was seen gaining slower than the other indices of the main market, which saw no trading of treasury bills.The Gulf institutions turned net profit takers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.55%, the All Share Index by 0.51% and the All Islamic Index by 0.43% in the main market.The transport sector index zoomed 3.78%, consumer goods and services (0.54%), real estate (0.43%), insurance (0.41%), industrials (0.33%), telecom (0.15%) and banks and financial services (0.12%).Major gainers in the main market included Qatar German Medical Devices, Medicare Group, Nakilat, Milaha, Lesha Bank, Dlala, Baladna, Mekdam Holding, Al Faleh Educational Holding, Qamco and United Development Company. In the juniour bourse, Techno Q saw its shares appreciate in value.Nevertheless, Al Khaleej Takaful, QIIB, Ezdan, Mannai Corporation and Aamal Company were among the shakers in the main bourse.The domestic institutions’ net buying strengthened significantly to QR41.19mn compared to QR34.19mn on March 17.The local individual investors’ net selling declined substantially to QR3.98mn against QR12.83mn the previous day.The Gulf retail investors’ net profit booking weakened perceptibly to QR0.48mn compared to QR2.16mn on Monday.However, the foreign institutions’ net selling expanded noticeably to QR31.22mn against QR22.87mn on March 17.The Gulf institutions were net sellers to the extent of QR5.07mn compared with net buyers of QR1.21mn the previous day.The foreign individual investors turned net sellers to the tune of QR0.5mn against net buyers of QR1.86mn on Monday.The Arab individual investors’ net buying shrank marginally to QR0.07mn compared to QR0.6mn on March 17.The Arab institutions had no major for the 16th straight session.The main market witnessed a 9% jump in trade volumes to 225.25mn shares, 8% in value to QR474.44mn and 46% in deals to 38,947.In the venture market, trade volumes surged 61% to 0.04mn equities, value by 61% to QR0.12mn and 30% in transactions to 13.

In a move that would help the logistics sector, the Ministry of Commerce and Industry (MoCI) and the Ministry of Transport (MoT) have permitted the integration of the land, maritime and air freight activities in a single commercial registration."This initiative aims to simplify procedures, reduce costs and enhance the business environment for companies operating in the logistics sector," MoCI said in its social media handle X.Furthermore, freight sector companies can now utilise one warehouse for all their shipping activities -- land, maritime or air, it said.Detailing the steps involved for availing the integrated registration, the MoCI said there was a need to add the activity to the current commercial registration, obtain the required licences from the authorities concerned and then submit a request for the commercial licence.Qatar has established itself as a global leader in logistics and supply chain due to its strategic location -- situated at the crossroads of Asia, Europe and Africa and has invested heavily in developing a robust infrastructure including modern ports, airports and road networks, according to Invest Qatar.Additionally, Qatar's free zones and logistics parks, along with advancement in ICT (information, communication and technology), contribute to a robust and efficient logistics and supply chain network, making it a vital hub connecting major global markets.Showcasing Doha's value proposition in the global logistics sector, Invest Qatar had said two-third of the world's population lives within eight hours of flight from the country and connects 2.5bn people and $8.5tn in combined GDP (gross domestic product) within 3,000km."The state’s significant investment in the (logistics) sector is reflected by the size of the transportation market valued at around $9.9bn," it said.The Qatar freight and logistics market size is estimated at $10.14bn in 2025, and is expected to reach $13.49bn by 2030, showing a compound annual growth rate of 5.89% during 2025-30, according to Mordor Intelligence.The MoCI had last year organised a round-table with several logistics firms as part of its efforts to reach out to the crucial sector and address the main challenges facing them.In Qatar, logistics services play a vital role, extending beyond the transportation of goods from one point to another to include bolstering trade flows, supporting sustainable development goals, and driving economic diversification, Gulf Warehousing Company Group Managing Director Sheikh Abdullah bin Fahad bin Jassim bin Jaber al-Thani had said last year.The Warehouse Management System (WMS) market in Qatar is witnessing significant growth, driven by the expansion of logistics and e-commerce sectors, according to 6Wresearch.