An estimated 76,000sqm gross leasable area (GLA) was completed during the second quarter (Q2, 2021), bringing the total workspace stock to 5.6mn sqm in Qatar, researcher ValuStrat said in a report.
Supply of offices in Lusail has exceeded 1mn sq m GLA with two office towers added in Lusail Marina during the quarter.
With 63% of pipeline supply concentrated in Lusail, total new-builds in the zone (assuming no construction delays) is projected to reach 1.2mn sq m GLA by the end of 2022.
Oversupply in Qatar’s office market is estimated to exceed 2mn sqm gross leasable area (GLA) on account of slow take-up of office space compared to the continuous influx of supply, ValuStrat noted.
The citywide median asking rent for offices was QR76 per sqm, which declined 2.6% quarterly and 7.6% annually, ValuStrat said.
It is unlikely that existing private local and international companies will be expanding their office requirements in the medium term due to the adoption of flexible ‘work from home’ schedules.
According to ValuStrat, offices along C/D ring road experienced highest quarterly depreciation of up to 6%.
According to Mwani Qatar, Hamad, Ruwais and Doha ports handled 819,253 Twenty-Foot Equivalent Units (TEUs) containers in H1, 2021, up by 22% YoY, ValuStrat said.
As of Q2, 2021, average asking rent for dry warehouses was QR43 per sqm, which increased 5% QoQ and grew 1% YoY.
Average asking rent for temperature-controlled warehouses grew 5% QoQ and 7% YoY, with asking rents typically ranging between QR40 to QR80 per sqm
The average asking rent for warehouses in Al Wakrah, Birkat Al Awamer and Al Wukair areas was at QR42 per sqm, remaining unchanged compared to the previous quarter and the same period last year.
During April 2021, the manufacturing output declined 3.2% compared to March 2021 and up 9% compared to April 2020, as per the latest Industrial Production Index.
Qatar Free Zones continued to attract local and foreign investments and as of June with some 130 companies operating in the zones, working in sectors such as logistics, technology and services, ValuStrat said.
Supply of offices in Lusail has exceeded 1mn sq m GLA with two office towers added in Lusail Marina during the quarter.
With 63% of pipeline supply concentrated in Lusail, total new-builds in the zone (assuming no construction delays) is projected to reach 1.2mn sq m GLA by the end of 2022.
Oversupply in Qatar’s office market is estimated to exceed 2mn sqm gross leasable area (GLA) on account of slow take-up of office space compared to the continuous influx of supply, ValuStrat noted.
The citywide median asking rent for offices was QR76 per sqm, which declined 2.6% quarterly and 7.6% annually, ValuStrat said.
It is unlikely that existing private local and international companies will be expanding their office requirements in the medium term due to the adoption of flexible ‘work from home’ schedules.
According to ValuStrat, offices along C/D ring road experienced highest quarterly depreciation of up to 6%.
According to Mwani Qatar, Hamad, Ruwais and Doha ports handled 819,253 Twenty-Foot Equivalent Units (TEUs) containers in H1, 2021, up by 22% YoY, ValuStrat said.
As of Q2, 2021, average asking rent for dry warehouses was QR43 per sqm, which increased 5% QoQ and grew 1% YoY.
Average asking rent for temperature-controlled warehouses grew 5% QoQ and 7% YoY, with asking rents typically ranging between QR40 to QR80 per sqm
The average asking rent for warehouses in Al Wakrah, Birkat Al Awamer and Al Wukair areas was at QR42 per sqm, remaining unchanged compared to the previous quarter and the same period last year.
During April 2021, the manufacturing output declined 3.2% compared to March 2021 and up 9% compared to April 2020, as per the latest Industrial Production Index.
Qatar Free Zones continued to attract local and foreign investments and as of June with some 130 companies operating in the zones, working in sectors such as logistics, technology and services, ValuStrat said.