TWO TOW­ERS IN WEST BAY FETCH QR1.5 BIL­LION

Qatar Today - - BUSINESS > REALTY CHECK -

Two tow­ers in the posh West Bay area of the city were sold for a stag­ger­ing QR1.5 bil­lion late last month. The trans­ac­tions took the to­tal value of real es­tate deals con­cluded in a week to an all-time high of QR2.76 bil­lion.

Real es­tate reg­is­tra­tion de­tails for the week be­tween July 20 and 24 show that one of the tow­ers, mea­sur­ing 3,126 square me­tres in Al Dafna, was sold for QR1 bil­lion. This is one of the high­est val­ues recorded for a real es­tate deal in Qatar's known his­tory, mar­ket ob­servers say.

The sec­ond tower, also in Al Dafna, was sold for QR500 mil­lion. Reg­is­tra­tion de­tails put its area at 4,056 sq me­tres and de­scribed it as a res­i­den­tial high-rise. Al Dafna is part of the sprawl­ing West Bay area and is of­ten called Qatar's mini-Man­hat­tan as it is dot­ted with sky­scrapers.

A to­tal of 151 real es­tate deals were recorded dur­ing the week and most of them in­volved small, open plots of land for res­i­den­tial pur­poses. The week also wit­nessed the sale of very small houses, de­tails with the Min­istry of Jus­tice's real es­tate reg­is­tra­tion depart­ment show.

One of the small houses, mea­sur­ing just about 121 square me­tres and lo­cated in ex­pa­tri­ate-dom­i­nated Al Man­soura area of Doha, was sold for QR2.4 mil­lion. Another, a house of 112 square me­tres in the Na­jma area of Doha, was sold for QR4.1 mil­lion.

A third, a small house with an area of 181 square me­tres in Fereej bin Dirham lo­cal­ity, also in Doha, was sold for QR2.35 mil­lion. The small­est of all, a house with an area of 93 square me­tres and lo­cated in Fereej bin Om­ran, was sold for QR1.55 mil­lion.

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