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The Commercial Real Estate Market in Qatar is segmented by Type (Offices, Retail, Industrial, Logistics, Multi-family, and Hospitality) and Key Cities (Doha, Al Wakrah, and Al Rayyan).
This report aims to provide a detailed analysis of the Qatari commercial real estate market. It focuses on the market dynamics, technological trends, insights, and government initiatives taken in the commercial real estate sector. Additionally, it analyzes the key players present in the market and the competitive landscape in the Qatari commercial real estate market.
|By Key Cities|
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The country is also witnessing an increasing demand for office spaces. The gross leasable area (GLA) of Qatar’s office supply reached nearly 4.685 million sq m in the third quarter of 2019. Nearly eight new office projects were added in the second half of 2019 in Doha Jadeed, West Bay Lagoon, Mushiereb Downtown, Lusail, and Al Wakrah, which comprised of nearly 145,000 sq m GLA of office space.
The Qatar Free Zones Authority (QFZA) is also planning to create a new free zone in Musheireb Downtown by 2020, which is going to add up a further total space of nearly 193,000 sq m GLA to the current office stock. The country is also anticipated to witness increasing construction activity across the office spaces in upcoming years, with around 60% of the upcoming projects expected to be constructed in Lusail and the remaining projects would be located in other areas of Qatar.
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Qatar witnessed a rising increase in tourist arrivals in 2019, with the total number of visitor arrivals standing at nearly 1.35 million until the second quarter of 2019.
As of 2019, the average occupancy rate of hotels increased by nearly 5% annually, with two-star and one-star hotels attracting the highest number of guests. One-star and two-star hotels saw an increase of nearly 25% in 2019. These hotels witnessed the highest increase in occupancy rates, with their rates increased by nearly 76% during the January-August period in 2019, compared to 61% during the same period in 2018.
Three-star hotels also saw a significant rise in occupancy. The occupancy rate for such hotels increased to nearly 76% during January-August in 2019, as compared to 67% in the same period the previous year. The occupancy in four-star hotels also increased to nearly 66% till the third quarter of 2019 from 59% in the same period in 2018, while five-star hotels saw their occupancy rising to nearly 60% in 2019 from 55% in 2018.
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The Qatari commercial real estate market is fragmented, with some of the major real estate players, such as Barwa Real Estate Company, Ezdan Holdings, United Development Company, Mazaya Qatar, and First Qatar, among others. In the Qatari real estate market, there is an increasing market competition among online portals and real estate companies. The online property market in Qatar has been dominated by a few real estate portals, such as property finder.qa and mubaweb.com. The sales proportion of real estate properties through the online market has consistently grown, owing to rising internet penetration, growing demand, incline in personal disposable incomes, and surging middle-class youth population.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Current Economic Scenario and Consumer Sentiment
4.2 Commercial Real Estate Buying Trends - Socioeconomic and Demogpaphic Insights
4.3 Government Initiatives and Regulatory Aspects for the Commercial Real Estate Sector
4.4 Insights into Existing and Upcoming Projects
4.5 Insights into Interest Rate Regime for General Economy and Real Estate Lending
4.6 Insights into Rental Yields in the Commercial Real Estate Segment
4.7 Insights into Capital Market Penetration and REIT Presence in Commercial Real Estate
4.8 Insights into Public-Private Partnerships in Commercial Real Estate
4.9 Insights into Real Estate Tech and Startups Active in the Real Estate Segment (Broking, Social Media, Facility Management, and Property Management)
5. MARKET SEGMENTATION
5.1 By Type
5.2 By Key Cities
5.2.2 Al Wakrah
5.2.3 Al Rayyan
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration
6.2 Company Profiles
220.127.116.11 Barwa Real Estate Company
18.104.22.168 Ezdan Holdings
22.214.171.124 United Development Company
126.96.36.199 Mazaya Qatar
188.8.131.52 First Qatar
6.2.2 Other Companies (Real Estate Agencies, Startups, Associations, etc.)
184.108.40.206 Qatar Living
220.127.116.11 Propertyfinder Qatar
18.104.22.168 Mubaweb Qatar
22.214.171.124 Al Adekhar Real Estate
126.96.36.199 Al Asmakh Real Estate Development
188.8.131.52 MD Properties
184.108.40.206 Garvey Properties
7. FUTURE OF THE MARKET AND ANALYST RECOMMENDATIONS
8. INVESTMENT ANALYSIS
8.1 Direct Investments
8.2 Indirect Investments
10. ABOUT US
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