Real Estate Trading Volume Exceeds QR1 Billion in May

Doha, June 25 (QNA) - The trading volume of registered real estates in May at the Ministry of Justice's real estate registration department stood at QR 1,379,567,112. This was achieved in 331 deals The department's weekly report said that the trading included empty lands, residential units, residential buildings, residential complexes, multipurpose buildings and multipurpose empty lands. Most of the trading took place in Al Daayen, Al Rayyan, Doha, Al Wakra, Umm Salal, Al Khor and Al Thakhira. Deals done in Doha municipality were worth QR 572,719,606, coming in first place in terms of value. Second place was Al Rayyan municipality, which saw deals worth QR 312,372,759, followed by Al Daayen which had deals worth QR 205,929,256. The prices of square footage in May were an average of QR 492-858 in Doha, QR 259-535 in Al Wakra, QR 334-444 in Al Rayyan, QR 225-395 in Umm Salal, and QR 225-447 in Al Daayen. The report said that the data confirm the strength of the real estate sector this year, in light of the new legislation introduced to encourage the investment of local and foreign capital. It added that it also reflects the strength of the Qatari economy, given that the real estate sector is one of its main drivers for growth. (QNA)