The demand for commercial properties in Qatar will continue to grow in 2023, amid several international events in sports, business, and tourism, a report by Saakin group reveals.
The report by the fastest growing online real estate directory in Qatar, says that enhanced cities and areas in the country will leave a significant mark in the commercial sector as many individuals across the world will anticipate investing. “Many commercial buildings and conceiving projects are the primary interest of investors” Saakin says.
“The demand for commercial real estate properties is increasing because of the developing locations and launching of new projects and luxury properties. There are unique hotels and resorts. Many commercial towers and developing projects are the main attraction for investors.”
“These trends enhance the power of commercial real estate and activities within Qatar. Moreover, prospective buyers can explore the investment opportunities and potential in exclusive projects and properties” it added.
Companies across the country have been focusing on some of the developed and attractive locations in Qatar including Lusail City, The Pearl Qatar, and West Bay.
The arrival of the FIFA World Cup brought high tourism and a big boom in the real estate market of Qatar. It also skyrocketed the rental cost and the projects were improved with more commercial and investment trades in the country.
Qatar is a well-connected logistics and commerce hub that currently ranks 1st on the Global Finance Safety Index in the Arab world and boasts robust state initiatives for foreign investors.
On the economic front, Qatar maintained balanced growth rates of its GDP in 2021 and 2022. This was achieved through the economic policies adopted in line with the Qatar National Vision 2030 to develop a diversified and competitive knowledge-based economy,according to a recent report by EY.
The report entitled ‘Qatar Investment Outlook Pulse 2022’ also reveals that executives in Qatar remain bullish about future prospects for the country, with around 82% expecting the economic growth of the coming five years to meet or exceed forecasts.