MAR­KET UN­DE­TERRED BY LOW OIL PRICES

Qatar Today - - BUSINESS > REALTY CHECK -

Ac­cord­ing to a re­cent re­port is­sued by SAK Hold­ing Group Mar­ket Watch, Qatar's real es­tate sec­tor “is still show­ing signs of firm­ness and con­sis­tency” amid the “reper­cus­sions and con­se­quences” of the drop in oil prices.

The re­port fur­ther added that land trad­ing and prices may im­prove de­spite an 80% drop in sales. “The real es­tate sec­tor ben­e­fit­ted from business ac­cel­er­a­tion and de­vel­op­ment projects led by the govern­ment in and out­side Doha, which cre­ated nu­mer­ous in­vest­ment op­por­tu­ni­ties for real es­tate com­pa­nies, in­vestors, and land own­ers.” The re­port also cited data from the Min­istry of De­vel­op­ment Plan­ning & Sta­tis­tics, ac­cord­ing to which: a to­tal of 1,781 build­ing per­mits were is­sued in the first quar­ter of the year – 491 for build­ing vil­las, and 330 for build­ing youth hous­ing.

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