Market Size of Qatar Commercial Real Estate Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 16.80 Billion |
| Market Size (2029) | USD 24.19 Billion |
| CAGR (2024 - 2029) | 7.56 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Qatar Commercial Real Estate Market Analysis
The Qatar Commercial Real Estate Market size is estimated at USD 16.80 billion in 2024, and is expected to reach USD 24.19 billion by 2029, growing at a CAGR of 7.56% during the forecast period (2024-2029).
- Qatar's economy is one of the fastest-growing economies in the world. Some of the major factors driving the growth of commercial real estate in Qatar are increasing construction activities, GDP growth, and the introduction of various policies by the government. The majority of the construction activities happening in the country are for high-end residential towers, white-collar office spaces, luxury hotels, and shopping malls. International events, such as the 2022 FIFA World Cup, drew nearly 1.5 million fans, which supported the demand for hotel rooms in 2022. This is expected to boost the hospitality sector in the country, as Qatar currently has around 26,500 hotel rooms, and it is anticipated that the country may add 15,000 rooms in the coming years.
- The retail space growth also doubled in the last three years, and it is expected to grow by nearly 50% more, with many new malls scheduled to open in the upcoming years. Qatar is also witnessing a rising demand for infrastructure and logistics, and events such as the 2022 FIFA World Cup are driving more demand for logistics and warehouses in the country. Qatar's government has also introduced foreign-ownership laws for various asset classes in the country, which has benefited the real estate market. As per this new law, all asset classes, including offices, shops, and residential villas, in a compound are legalized for freehold ownership.
- There is a significant increase in the number of market players in Qatar, primarily driven by infrastructure development and construction activities happening in the country. The Qatari real estate market is also witnessing innovations and improvements, such as increased public-private partnerships by the government, which is driving more companies to enter the country's real estate market.
- The impact of COVID-19 on the Qatar commercial real estate market is evident through the standstill of office expansion plans, minimal sales, and numerous deferments in leases. Customers are deferring purchases across the sector, which may result in significant revenue disruption and reduced demand and realizations.
