Qatar's Real Estate Sector Marks Continuous Growth

Doha, August 14 (QNA) - Data of the Real Estate Analytical Bulletin issued by the Ministry of Justice for July showed that main indicators of the country's economic growth, particularly the real estate index, have continued to grow, in terms of the number of investment and commercial properties, traded spaces and the rates of mortgages, marking an active movement despite the tranquility of real estate during the summer. The total value of trading during the month of July reached QR1, 838,583,943, while the real estate index traded up 76 percent compared to June with 238 transactions. The municipalities of Doha, Al Wakra and Al Rayyan topped the most active trading in terms of financial value, followed by the municipalities of Umm Salal, Al Daayen, Al Khor, Al Dhakhira and Al Shamal. The financial value of Doha transactions reached QR 720,619,847, while the financial value of Al Wakra amounted to QR 547,678,232, followed by Al Rayyan (QR 367,354,166), Umm Salal (QR 67,736,203), Al Daayen (QR 95,487,199), Al Khor and Al Dhakhira (QR 32,690,445) and Al Shamal (more than 7 million riyals). The indicators showed that the most active municipalities for the sold real estate in July were Al Wakra (62 percent), followed by Doha (13 percent) and Al-Rayyan (12 percent). According to data, the trading turnover in the Pearl and Qassar during July increased by the number of transactions compared to June, where the number of transactions reached 35 with a total value of QR 93,811,192. The volume of mortgage transactions during July amounted to 140 transactions with a total value exceeded 9 billion riyals, a rise by 21.5 percent to the volume of mortgages registered in June. Al Rayyan recorded the highest mortgage rates with 59 transactions, 42 percent of the total number of mortgaged properties, followed by Doha (56 transactions), and Al Daayen (8 transactions). (QNA)