West Bay, Al Sadd account for 40% demand for 'open plan offices and units', says Ezdan
February 27 2020 08:17 PM
A view of one of the Ezdan residential compounds.
A view of one of the Ezdan residential compounds.

Nearly 40% demand for “open plan offices and units” has come from West Bay and Al Sadd, a new report by Ezdan has shown.

Greater demand is due to improved services for open plan office and administrative areas offered for tenancies in premium locations, the report said.

For companies, this provides incentives to improve their businesses, Ezdan said.

A case in point is Lusail City, Ezdan said, and noted 95% of its infrastructure has already been completed.

Lusail City extends over an area of 38 square kilometres, which can accommodate nearly 200,000 residents and an additional manpower of 170,000. It includes many establishments, housing units and offices including 22 hotels.

According to Ezdan, the city currently ranks third in terms of demand for administrative offices thanks to its “high-quality buildings and rentals at competitive prices.”

In terms of real estate activities in Qatar from February 16 to 20, Ezdan said some 82 property deals have been executed during the period, which were valued at more than QR255.2m. The Ezdan report is based on data provided by the Real Estate Registration Department.

The deals covered seven municipalities: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakrah, and pertained to vacant land lots, housing, multi-use buildings, multi-use land lots, and residential buildings.

Doha ranked first by deal value, where a QR15mn deal was registered through the sale of a residential building spreading over an area of 874 square meters at a price of QR1,594/ sq m.

The week, however, did not witness any “significant or exceptional” sale deals in excess of QR50mn, which could have boosted the real estate price index during the week.

Similarly, Doha ranked second by largest property sale deal for a multi-use building (in Khalifa City south of Doha).

The building encompasses an area of 591 square metres, at an average price per square foot of QR1,847, with a total value of QR11.75mn, Ezdan said.

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