(MENAFN- The Peninsula) Qatar's real estate market remained firm as a real estate transactions jumped 85 percent to QR1,409.2m last week, according to Ezdan Weekly Report. Last week also witnessed an exceptional QR180m deal for the sale of a residential building in Umm Ghuwelina.
Doha Municipality acquired the largest number of transactions implemented, with the execution of 47 deals acquiring 23.9 percent of transactions. Al Daayan municipality witnessed 39 transactions representing 67.2 percent of total deals compared to 32.8 percent of other real estate over all areas.
The report predicted that property transactions will experience a rise in the coming weeks, especially in the land sector, noting that investors and real estate developers are directed towards the establishment of more new real estate projects.
In terms of total transactions, land transactions acquired 67.2 percent of the total, which amounted to QR946.6m. The report said the overall real estate transactions reached a value of QR662.8 million, representing 40.5 percent of the total transactions.
Ezdan Weekly report of the third week of May from 18th until 22nd, revealed transactions worth QR1,409.2m compared to QR1,638m in the previous week, a decline of 14 percent according to the recent weekly bulletin issued by the
Real Estate Registration Department at the Ministry of Justice, pointing out that the average daily value of real estate transactions amounted to about QR281.8m compared to QR327.6m in the previous week.
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