Qatar has shown “great efficiency” in facing the unjust siege imposed by some Gulf countries and Egypt with the aim of weakening the country economically and diplomatically, and paralysing air and sea traffic, SAK Holding Group said in its monthly report.
“In less than a month, Qatar was able to regain the initiative through plans and mechanisms that enabled it to ensure continuous flow of supplies and regularity to meet the needs of the local market, including various consumer and basic goods, and building materials, among others.
“This puts new emphasis on the strength of the Qatari economy and its ability to adapt to regional and global challenges and changes,” said the report, which was issued by the group’s Market Watch Bureau.
The report also “belittled the repercussions” of the ongoing siege on Qatar and on the local real estate market.
“The real estate sector has proved on different occasions its ability to rearrange its conditions, especially in light of the government determination to continue the process of urban development according to plans and timetables prepared in advance,” the report said.
It added that infrastructure development projects in different areas across Qatar, which will be connected by a new roads network, would contribute to the development of different regions and create “promising new real estate opportunities.”
Market Watch Bureau conducts a field survey of real estate market indices, reports, and indicators issued by concerned parties.
“Trading in the property market would gradually increase in the coming months because land transactions for vacant lots will increase because investments from the siege countries are expected to return,” Market Watch Bureau predicted.
It added: “Local investors’ confidence in the real estate sector will rise, thus uplifting the trust index in the real estate sector. Stakeholders will witness a significant improvement in the size and value of transactions, which indicate that real estate investors still have faith in the Qatari real estate sector.”
Qatar's resiliency amidst the economic blockade emphasises the strength of the Qatari economy, SAK Holding Group said in its monthly report.