Qatar’s real estate sector has shown strong performance in Q3 2024, closing deals worth QR3.351 billion ($920 million) across 798 transactions. Though this marks a slight dip compared to the QR3.597 billion generated from 855 deals in the same quarter of 2023, the sector continues to demonstrate resilience and growth potential.
September 2024 emerged as the most active month, with transactions totaling QR1.419 billion, followed by QR1.105 billion in July and QR827.058 million in August. The market’s activity was largely driven by the Doha, Al Rayyan, and Al Dhaayen municipalities, with Doha leading in financial value, totaling QR1.121 billion in deals. Al Rayyan ranked second at QR857 million, while Al Wakrah followed with QR494 million.
Municipal Activity and Market Dynamics
In terms of real estate transactions, Al Rayyan was the most active municipality, contributing 26% of sales in Q3 2024, followed by Al Dhaayen with 14%. Comparatively, Q3 2023 saw Al Rayyan (30%), Doha (23%), and Al Dhaayen (16%) leading the market.
When examining the real estate area index, Al Wakrah accounted for 39% of the total real estate trading in Q3 2024, making it the most active municipality, followed by Al Rayyan with 21%, and Doha with 18%. In 2023, Al Rayyan (33%), Doha, and Al Wakrah (both at 21%) dominated real estate area transactions.
The most valuable properties in Q3 2024 were concentrated in Doha, with four of the top ten transactions taking place there. Other high-value properties were located in Al Dhaayen, Al Rayyan, Umm Slal, and Al Wakrah municipalities.
Sector Outlook and Strategic Focus
During the first two quarters of 2024, Qatar’s real estate market witnessed a cumulative QR7.444 billion in deals. The sector’s sustained activity aligns with Qatar’s Third National Development Strategy, which emphasizes economic diversification as a means of achieving sustainable growth. The Real Estate Regulatory Authority continues to spearhead initiatives to stimulate the sector, promoting investor confidence and fostering growth.
As part of this effort, the Qatar Real Estate Forum, themed “Aqarat’s Future,” commenced today. It will focus on enhancing transparency, promoting sustainable development, and driving digital integration. The forum aims to foster investor confidence and attract foreign investments by encouraging effective partnerships and a robust dispute resolution mechanism. These initiatives are vital to aligning Qatar’s real estate sector with global best practices.
