Real estate in “metro-adjacent” areas will get a boost with Qatar Rail announcement to operate all metro lines in the country, Ezdan Market Research department has said in a report.
It will also “enhance horizontal urban development and revitalise construction activities” throughout Qatar.
Metro, being a vital means of transportation, will affect all other sectors, it said. It will lead to an “increase in demand for units” near metro stations.
The increasing significance of the new Metro is evident from Qatar Rail announcement that nearly 333,000 passengers used it on Qatar National Day and that total number of passengers during July and August reached 1.1mn.
Also, total areas for shops in Metro stations reached 9,200 sq m in four different categories.
Ezdan Real Estate said the higher visitor arrivals to Qatar have had a positive effect on residential units and hotels and real estate in general.
Citing a Planning and Statistics Authority report, Ezdan said the number of visitors increased to 1.66mn in the first 10 months of last year, up 13% on the same period on 2018.
Also, representative offices of the Qatar National Tourism Council for Tourism (QNTC) were opened in the most significant markets such as USA, Britain, France, Italy, Turkey, Russia, India, China and Southeast Asia.
This comes in conjunction with the International Tourism Organisation declaring Qatar as the eighth on the international openness indicator and the first in the Middle East region.
General occupancy rate in hotels improved significantly due to visitor arrivals, facilitated by visa-free entry to Qatar for nationals of more than 80 countries.
In 2019, Qatar’s real estate market had seen 3,752 property transactions worth QR22.4bn across various municipalities of the country, Ezdan said citing Ministry of Justice’s Real Estate Registration Department figures.
The monthly report indicated that major projects have been given an outlay of QR90bn in the General Budget for the current fiscal, compared to QR89.5bn in 2019.
According to Ezdan, this strongly supports real estate growth as major projects are allocated nearly 43% of the total expenditure.
“This indicates the continued commitment by Qatar to provide necessary financial allocation for completion of major projects in sectors such as health, education, transport and 2022 FIFA World-cup-related projects as per the approved time plan,” Ezdan noted.
Metro, being a vital means of transportation, will affect all other sectors, it said. It will lead to an “increase in demand for units” near metro stations.
The increasing significance of the new Metro is evident from Qatar Rail announcement that nearly 333,000 passengers used it on Qatar National Day and that total number of passengers during July and August reached 1.1mn.
Also, total areas for shops in Metro stations reached 9,200 sq m in four different categories.
Ezdan Real Estate said the higher visitor arrivals to Qatar have had a positive effect on residential units and hotels and real estate in general.
Citing a Planning and Statistics Authority report, Ezdan said the number of visitors increased to 1.66mn in the first 10 months of last year, up 13% on the same period on 2018.
Also, representative offices of the Qatar National Tourism Council for Tourism (QNTC) were opened in the most significant markets such as USA, Britain, France, Italy, Turkey, Russia, India, China and Southeast Asia.
This comes in conjunction with the International Tourism Organisation declaring Qatar as the eighth on the international openness indicator and the first in the Middle East region.
General occupancy rate in hotels improved significantly due to visitor arrivals, facilitated by visa-free entry to Qatar for nationals of more than 80 countries.
In 2019, Qatar’s real estate market had seen 3,752 property transactions worth QR22.4bn across various municipalities of the country, Ezdan said citing Ministry of Justice’s Real Estate Registration Department figures.
The monthly report indicated that major projects have been given an outlay of QR90bn in the General Budget for the current fiscal, compared to QR89.5bn in 2019.
According to Ezdan, this strongly supports real estate growth as major projects are allocated nearly 43% of the total expenditure.
“This indicates the continued commitment by Qatar to provide necessary financial allocation for completion of major projects in sectors such as health, education, transport and 2022 FIFA World-cup-related projects as per the approved time plan,” Ezdan noted.