Santhosh V. Perumal

The increased buying interests of foreign and Gulf funds placed the Qatar Stock Exchange’s key barometer near 11,900 levels this week.

The Qatar Stock Exchange Thursday crossed the 11,900 levels intraday, but overall it could not sustain the momentum as the index finally settled 15 points higher against the previous day’s levels.

The Qatar Stock Exchange on Wednesday gained about 89 points to inch near 11,900 levels, mainly supported by strong buying interests of the foreign institutions.

Robust output expansion, especially in cement, printing, beverages and food products, as well as higher extraction of hydrocarbons, led Doha's industrial production index (IPI) jump 1.8% month-on-month in August, according to the Planning and Statistics Authority (PSA).

The increased net buying interests of foreign funds and individuals on Tuesday lifted the Qatar Stock Exchange more than 24 points but overall it failed to break the 11,800 resistance levels.

Buoyed by the response from this year's edition despite the Covid-19 challenges, Cityscape Qatar 2022 will see more global firms, including proptechs and other allied segments supporting the real estate sector, as Doha is now on the overdrive in smart cities initiative.

Barwa Real Estate Group on Monday signed a co-operation agreement with Huawei to provide its in-progress and future projects with smart technology services related to the information, communication and technology (ICT) systems.

Barwa Group will complete three pioneering projects, which embody the principle of strategic partnership with the government, by next year.