The real estate market continues to rally up backed by a large volume of property sales executed during the past week, in addition to a number of substantial sale deals in some municipalities, which contributed to the continuing rise of the real estate price index.
This was also coupled with positive sentiments in the market as the country embarks on the third stage of easing down Covid-19 restrictions to contain the pandemic’s outbreak in Qatar, according to the Ezdan Real Estate weekly report.
The bulletin released by the Real Estate Registration Department covering July 23 to 23, 2020 reflected a total volume of 141 property sales deals worth QR513.8mn, distributed over eight municipalities: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayan, North, Shehaniya, Al Daayen, and Al Wakrah.
The transactions included the sale of vacant land lots, residential units, multi-use buildings, multi-use land lots, and residential buildings.
Umm Salal ranked first by deal value worth QR 56.6mn. The deal entailed the sale of an extensive land lot spanning over 26,303sq m and sold at QR200 per square foot.
At the same time, Umm Salal also registered the second highest deal in terms of value by selling a piece of vacant land lot in Al Kharaitiyat spreading over 12,507sq m and sold at QR282 per square foot for a total deal worth QR38mn.


Doha-based QG Medical Devices mulls acquisition of Elegancia Company
QG Medical Devices (QGMD), a Doha-based leading manufacturer of medical devices in the Middle East, is contemplating acquisition of Elegancia Company, which is in the services sector.
In this regard, the Qatar Stock Exchange (QSE)-listed QGMD intends to sign an initial agreement to explore the feasibility of acquiring Elegancia, which is not a listed entity.
The proposed acquisition comes as part of QGMD’s efforts to improve its performance and raise its productivity, it said in a regulatory filing with the QSE.
Once the studies and the necessary assessments are completed, communication will be made with the supervisory authorities and the relevant parties regarding the acquisition, and the timeline for the acquisition process, the filing said. QGMD has a modern production facility designed by reputable innovative technology providers from Germany, Switzerland and Italy.


QSE holiday till August 4
The Qatar Stock Exchange will remain closed from today until August 4 in view of Eid Al Adha holidays. The bourse will resume trading on August 5 (Wednesday), its spokesman said in a communiqué. This is based on the instructions received from the Qatar Financial Markets Authority.