Doha: Total value of property sale in Qatar reached QR392.5m from October 4-8, with a significant rise in the sale of land lots which generated up to QR218.7m, or 55.7 percent of the property sale volume, according to Ezdan Real Estate weekly report, which was sponsored by Sak Partnership.
On the other hand, building sale deals of all kinds including residences, residential buildings and complexes amounted to QR173.8m, or 44.3 percent of total volume.
The property sale activity was distributed among seven municipalities including Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra. The deals included vacant lands, residences, multi-use buildings, mixed-use space and residential buildings, according to Ezdan report citing Real Estate Registration Department figures.
Doha municipality acquired the highest deal in terms of value through the sale of a plot in Hazm Al Markhiya spanning over 6,331sqm. The deal stood at QR374 per square foot, totaling QR25.5m.
It also has seen the sale of a land lot in Hazm Al Markhiya at an aggregate value of QR19.3m. The land spreads over an area of 3,240sqm. The deal was clinched at QR552 per square foot.
The report on market activity expounded some current rental rates in the residential categories, reflecting that rental rates in the area of Umm Guwailinaa recorded the average rental value for an unfurnished 2 bedroom apartment at QR4,560, counting on the variance of services provided by each property, while a furnished 2 bedroom apartment registered an average rental value of QR5,100.
The rental rates in the New Doha area for an unfurnished 2 bedroom apartment reached an average of QR4,250, according to the equipment, furniture and services provided by each property, and the furnished 2 bedroom apartment in the same area recorded an average rental value of QR4,800. However, in Al Gharaffa region, rental rates for a 2 bedroom apartment recorded an average of QR5,125, and residential villas recorded an average rent of QR9,000 depending on the services and advantages. Villas ranged between 3-4 rooms, whether furnished or unfurnished.
The report also highlighted the Umm Ghwailina offices, which is considered one of the giant office spaces developed by Ezdan Real Estate Company, and enjoys a vital location in the heart of Doha and near the Corniche Road.
It provides full-range services to all tenants that include parking lots and overlooks the main roads. The project contributes to the boom of office spaces, providing administrative offices with different sizes.
The smart real estate project “Sharekna” is a smart real estate product provided by Sak Partnership as a solution for landlords of vacant land lots to transform the lands into real estate projects suitable for developing a residential or commercial complex, building or tower, or even a hospital or school. Sharekna offers feasibility studies, licenses and good planning by specialised engineers and experts, as well as secures funds for undertaking the project and construction in a record time at a prime cost, without calculating any profit margin for Sak Partnership. This saves 40 percent of the total cost of the project for the landlord, in return for a stake equivalent to one third of the project only for Sak. At the same time, the landlord may choose to divest the joint venture agreement. Sak Company offers 5 percent commission for realtors interested to work under “Sharekna”.
SOURCE: THEPENINSULAQATAR