Cityscape Qatar to focus on real-estate boom
Total real-estate transactions in Qatar double in 2012, reach $11.5bn
Qatar's real-estate sector is booming, with the value of total real-estate transactions having doubled in 2012, equating to a staggering $11.5bn (QR42bn) and 59.1% above 2011.
The real-estate sector will come under the spotlight at Cityscape Qatar to be held on 27 to 29 May 2013 at the Doha Exhibition Centre.
The first edition of Cityscape Qatar took place under the Patronage of H.E. Sheikh Hamad bin Jassim bin Jabor Al-Thani, Prime Minister and Minister of Foreign Affairs in Qatar. It attracted 81 exhibitors, over 5,000 visitors and delegations from over 58 countries.
"We had a significant participation in Cityscape Qatar last year, showcasing the group's size and capabilities. We were able to sign a number of major deals, MOUs and leasing contracts with anchor tenants," said Eng. Abdullah Abdulaziz Turki Al Subaie, Group CEO, Barwa Real Estate Group.
The future of the real-estate market in Qatar is highly promising due to the booming domestic economy from oil revenues, and the FIFA 2022 Football World Cup.
Qatar's international profile is also on the rise, with business expansion being the main contributing factor for the positive condition of the market.
The General Secretariat for Development Planning, in its recent update on Qatar Economic Outlook for 2012-13, stated: "Construction activity is now accelerating, and was a major contributor to growth in the second half of 2012. In 2013, construction will boost even further, expanding at a double-digit pace".