Market Overview
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 33.10 Billion |
| Market Size (2030) | USD 35.11 Billion |
| Growth Rate (2025 - 2030) | 6.08% CAGR |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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Qatar Commercial Real Estate Market Analysis by Mordor Intelligence
The Qatar commercial real estate market stood at USD 33.10 billion in 2025 and is on track to touch USD 35.11 billion by 2030, advancing at a 6.08% CAGR. Growth remains anchored in the government’s USD 350 billion sustainable-development pipeline and the Third National Development Strategy, which together widen demand for offices, logistics facilities, and mixed-use projects across the country. New-generation free-zone policies that allow 100% foreign ownership, plus residency incentives linked to property investment, continue to draw international corporates and institutional investors, while rising e-commerce volumes accelerate the need for automated last-mile hubs near Hamad Port and Greater Doha. Liquidity conditions are supportive: Qatari banks expanded real-estate lending by 6.3% year on year in 2024, signalling confidence in the sector’s medium-term outlook. At the same time, oversupply in post-World-Cup office and hospitality stock is being absorbed through adaptive-reuse programs, green retrofits, and flexible leasing models that match changing occupier preferences. Advancing construction-tech adoption—highlighted by AI-enabled design showcased at ConteQ Expo24—lowers long-run operating costs and strengthens competitive positioning for new asset[1]Vítor Gaspar, “Qatar: 2024 Article IV Consultation—Press Release; Staff Report,” International Monetary Fund, imf.org.
Key Report Takeaways
- By property type, Offices led with 38.0% of Qatar commercial real estate market share in 2024, whereas Logistics is projected to register the fastest 6.12% CAGR to 2030.
- By business model, Sales transactions dominated with 64.0% of the Qatar commercial real estate market in 2024, yet Rentals are forecast to grow at 6.33% CAGR through 2030.
- By end-user, Corporates & SMEs commanded 55.0% share of the Qatar commercial real estate market size in 2024, while Institutional Investors exhibit the quickest 6.10% CAGR toward 2030.
- By city, Doha accounted for 71.0% of the Qatar commercial real estate market size in 2024; Al Wakrah is advancing at the highest 6.51% CAGR to 2030.
Qatar Commercial Real Estate Market Trends and Insights
Drivers Impact Analysis
| Drivers | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Economic diversification under Qatar National Vision 2030 | +1.2% | National, with focus on Lusail and industrial zones | Long term (≥ 4 years) |
| Free-zone & 100% foreign-ownership reforms | +1.0% | QFC, QSTP, QFZ areas with spillover effects | Medium term (2-4 years) |
| E-commerce last-mile logistics boom | +0.9% | Greater Doha area and port-adjacent zones | Medium term (2-4 years) |
| FIFA-legacy infrastructure demand surge | +0.8% | National, concentrated in Doha and Al Wakrah | Short term (≤ 2 years) |
| QIA green-building investment mandate | +0.7% | National, prioritizing new developments | Long term (≥ 4 years) |
| Lusail data-centre corridor incentives | +0.6% | Lusail City and surrounding areas | Medium term (2-4 years) |
Source: Mordor Intelligence
Understand The Key Trends Shaping This Market
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FIFA-legacy infrastructure demand surge
Redevelopment of tournament-era venues into hotels, retail clusters, and mixed-use districts is generating fresh leasing activity around stadium precincts, countering the rental-rate dip that followed the 2022 event. Public Works Authority has earmarked USD 22.2 billion for 2025-2029 urban upgrades that leverage these sites, assuring short-term absorption of vacant stock and catalysing related commercial build-outs.
Economic diversification under Qatar National Vision 2030
The strategy pivots GDP away from hydrocarbons by nurturing manufacturing, logistics, and tech services, all of which demand tailored real estate such as research labs, small-batch factories, and co-working floors. Manufacturing added USD 18 billion to GDP in 2024, while the logistics sector is expanding 7.1% annually, underpinning a long-run lift in warehouse and light-industrial absorption[2]Lim Meng Hui, “Qatar Free Zones Authority Launches 1,500-Plot Logistics Park near Hamad Port,” Qatar Free Zones Authority, qfz.gov.qa.
Free-zone & 100% foreign-ownership reforms
The Foreign Investment Law No. 1 of 2019 removed equity caps and enabled land allocation inside QFZ and QFC, propelling Grade-A office take-up above 2,400 registered firms by early 2025. Accompanying tax exemptions reduce total occupancy costs, nudging multinationals toward long leases and boosting pre-commitments for upcoming towers in Lusail and Energy City.
E-commerce last-mile logistics boom
Online retail volume keeps climbing, prompting government release of a 6.3 km² industrial park near Hamad Port with 1,500 serviced plots tailored for automated cross-docks, dark stores, and cold-chain nodes. Small-ticket investors control two-thirds of the plots, widening developer diversity and pushing competitive innovation in facility design and robotics integration.
Restraints Impact Analysis
| Restraints | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Office & hospitality oversupply post-World Cup | −1.1% | Doha central business district and hospitality zones | Short term (≤ 2 years) |
| ESG-driven construction cost inflation | −0.8% | National, affecting all new developments | Medium term (2-4 years) |
| Higher lending rates & tighter credit | −0.6% | National, concentrated in high-leverage segments | Short term (≤ 2 years) |
| Slow REIT-law implementation | −0.4% | National, affecting institutional investment flows | Long term (≥ 4 years) |
Source: Mordor Intelligence
Office & hospitality oversupply post-World-Cup
Roughly 40% expansion in prime office stock during World-Cup preparations outpaced immediate demand, driving a 20% rent fall between 2021-2024 and elevating non-performing loan risk for banks with large real-estate books. Developers are mitigating vacancies by converting single-use towers into flexible workspaces and incorporating experiential retail on lower floors, while hoteliers re-brand surplus rooms into mid-scale extended-stay formats.
ESG-driven construction cost inflation
Green-building mandates under Qatar Sustainable Assessment System add double-digit cost premiums to LEED or GSAS-rated projects, raising feasibility hurdles for price-sensitive schemes. Volatile material prices—47.3% dictated by regulatory factors—compound uncertainty; nonetheless, long-term tenants and institutional capital prefer certified assets, helping developers recoup initial outlays through premium rents and lower utility bills[3]Francis Oppong, “Factors Driving Construction Material Price Volatility in Qatar’s Construction Industry,” Buildings (MDPI), mdpi.com.
Segment Analysis
By Property Type: Logistics Infrastructure Drives Growth
Offices retained the largest 38% Qatar commercial real estate market share in 2024 thanks to Doha’s CBD pipeline and Lusail tower completions. Yet vacancy pressure and hybrid-work adoption temper growth, steering landlords toward modular floorplates and tech-enabled amenities that improve space efficiency. The Qatar commercial real estate market size attributable to Offices will edge up only modestly through 2030 as occupiers seek lease flexibility and ESG-certified space.
Logistics facilities deliver the fastest 6.12% CAGR to 2030, supported by e-commerce adoption, North Field LNG expansion, and government-backed industrial parks near Hamad Port. Automated racking, temperature-controlled zones, and solar-ready roofs now feature in most tenders, while AI-driven construction showcased at ConteQ Expo24 shortens delivery cycles and cuts long-run energy costs.
Note: Segment shares of all individual segments available upon report purchase
By Business Model: Rental Growth Accelerates
Sales transactions commanded a 64% slice of the Qatar commercial real estate market in 2024 as foreign freehold demand surged in Lusail and The Pearl. High-net-worth buyers view freehold offices and retail podiums as inflation hedges, and residency schemes tied to USD 1 million purchases reinforce appetite. Still, tighter global financing conditions and a preference for capital-light balance sheets curb outright acquisitions by corporates.
Rentals are on a 6.33% CAGR trajectory to 2030, reflecting occupiers’ turn toward OPEX-friendly models that preserve working capital. Updated Rent Law No. 4 of 2008 and functioning Leasing Dispute Committees raise contractual certainty, while landlords entice tenants with turnkey fit-outs, shorter rent-free periods, and green-lease clauses that share utility-efficiency gains.
By End-user: Institutional Investment Momentum
Corporates & SMEs held a 55% share of the Qatar commercial real estate market size in 2024, driven by manufacturing diversification, startup formation in Qatar Science & Technology Park, and reshoring of supply chains into purpose-built warehouses. Occupiers favour clusters offering research labs, light assembly floors, and on-site customs clearance.
Institutional Investors represent the quickest 6.10% CAGR bracket, buoyed by Qatar Investment Authority’s USD 1 billion Fund-of-Funds that lured B Capital and Deerfield into Doha in 2025. Sovereign funds, asset managers, and insurance firms demand core-plus offices with data-rich building-management systems and proximity to financial regulators. Long-income profiles and green-bond financing unlock competitive borrowing costs, making trophy assets in Lusail and West Bay their favoured targets.
Note: Segment shares of all individual segments available upon report purchase
Geography Analysis
Doha preserved 71% of the Qatar commercial real estate market size in 2024 on the back of Hamad International Airport’s 70 million-passenger capacity, entrenched government institutions, and the 1.1 million m² Lusail Towers block that houses Qatar National Bank and the central bank. While the capital still garners the lion’s share of multinational demand, supply overhang in Grade-A offices and hotels keeps headline rents flat in the near term. Adaptive-reuse programs that transform surplus hospitality suites into serviced apartments and senior-living units help moderate vacancy pressures.
Al Wakrah is the fastest riser with a 6.51% CAGR through 2030, catalysed by a 6.3 km² logistics park beside Hamad Port and Mesaieed Industrial City. Public Works Authority budgets USD 22.2 billion for roads, utilities, and drainage that elevate the city’s competitiveness, while small-parcel land sales encourage local entrepreneurs to roll out specialised warehousing and cold-chain modules. Improved coastal highways shorten drayage times to the port, enabling 24-hour fulfilment cycles for e-commerce players.
Al Rayyan and the Rest of Qatar offer steady but smaller bases for future growth. Al Rayyan benefits from spill-over tenant demand as Doha’s core tightens, spurring mixed-use precincts that merge coworking, mid-scale retail, and residential towers. Outlying industrial zones host fabrication yards and service bases for the North Field LNG project, with built-to-suit plots attracting engineering, procurement, and construction contractors. Growth across these districts supports a balanced geographic spread for the Qatar commercial real estate market, reducing over-reliance on the capital.
Competitive Landscape
A moderate concentration characterises the Qatar commercial real estate market, with leading developers—Barwa Real Estate, Ezdan Holding, United Development Company, and Qatari Diar—leveraging joint ventures and PPP awards to secure land and financing for headline schemes. The government aims to award USD 85 billion in PPP projects by 2030, prompting consortium bids that marry local knowledge with international design-build expertise.
Technology and sustainability have become the prime battlegrounds. ConteQ Expo24 demonstrated AI-assisted quantity-surveying and drone-based progress tracking, tools now embedded by Alfardan Properties and Msheireb Properties to compress build times and lift margins. Green-building compliance is no longer optional: developers courting sovereign wealth capital must achieve GSAS 4-star or LEED Gold as the minimum entry ticket, spurring alliances with global EPC firms skilled in net-zero design.
Specialist niches provide white-space opportunities. Global providers such as GLP and Goodman are studying entry strategies for temperature-controlled logistics, while Equinix and Digital Realty scout plots in Lusail’s data-centre corridor to capitalise on government incentives for cloud infrastructure. Local challengers—First Qatar Real Estate and Mazaya—target mid-market rental housing and community malls that recycle stranded land parcels.
Qatar Commercial Real Estate Industry Leaders
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Barwa Real Estate Company
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Ezdan Holding Group
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United Development Company
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Mazaya Real Estate Development
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Qatari Diar
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- May 2025: Public Works Authority launched a USD 22.2 billion infrastructure plan for 2025-2029 covering roads, drainage, and 5,500 residential plots through PPPs.
- February 2025: Qatar Investment Authority marked one year of its USD 1 billion Fund-of-Funds; six global investment managers opened regional headquarters in Doha.
- January 2025: Third National Development Strategy commenced, placing private enterprise at the center of economic expansion and elevating demand for R&D hubs and flexible offices.
- September 2025: ConteQ Expo24 highlighted AI-driven construction solutions developed with the Public Works Authority and Ministry of Communications.
Qatar Commercial Real Estate Market Report Scope
Qatar commercial real estate market report aims to provide a detailed analysis of the Qatari commercial real estate market. It focuses on the market dynamics, technological trends, insights, government initiatives taken in the commercial real estate sector, and the impact of COVID-19 on the market. The report also analyzes the key players present in the market and the competitive landscape in the Qatari commercial real estate market.
The commercial real estate market in Qatar is segmented by type (offices, retail, industrial & logistics, multi-family, and others (such as hospitality)) and key cities (Doha, Al Wakrah, Al Rayyan, and Rest of Qatar). The report offers the market sizes and forecasts for the Qatar Commercial Real Estate Market in value (USD) for all the above segments.
| By Property Type | Offices |
| Retail | |
| Logistics | |
| Others (Industrial, Hospitality, etc.) | |
| By Business Model | Sales |
| Rental | |
| By End-user | Individuals / Households |
| Corporates & SMEs | |
| Others | |
| By Cities | Doha |
| Al Wakrah | |
| Al Rayyan | |
| Rest of Qatar |
By Property Type
| Offices |
| Retail |
| Logistics |
| Others (Industrial, Hospitality, etc.) |
By Business Model
| Sales |
| Rental |
By End-user
| Individuals / Households |
| Corporates & SMEs |
| Others |
By Cities
| Doha |
| Al Wakrah |
| Al Rayyan |
| Rest of Qatar |
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Key Questions Answered in the Report
What is the current size of the Qatar commercial real estate market?
The Qatar commercial real estate market is valued at USD 33.10 billion in 2025 and is projected to reach USD 35.11 billion by 2030.
Which property type is expanding the fastest?
Logistics facilities lead growth, advancing at a 6.12% CAGR on the back of e-commerce gains and the new 6.3 km² industrial park near Hamad Port.
How large is Doha’s share of the market?
Doha accounts for 71% of the Qatar commercial real estate market size in 2024, supported by Lusail’s CBD towers and Hamad International Airport’s expansion.
Why are rental models growing more quickly than sales?
Rentals are forecast to rise at a 6.33% CAGR because corporates prefer capital-light, flexible leasing structures and benefit from stronger tenant protections under Rent Law No. 4 of 2008.
What risk does oversupply pose to the market?
Post-World-Cup office and hospitality oversupply is expected to trim overall market CAGR by 1.1% in the short term, but adaptive-reuse projects and economic diversification efforts are absorbing excess stock.
How are sustainability rules affecting development costs?
Mandatory GSAS and LEED compliance adds cost premiums, yet certified assets command higher rents and attract institutional capital focused on ESG goals.
