New Business market report from Business Monitor International: "Qatar Real Estate Report Q2 2013"
Boston, MA -- (SBWIRE) -- 03/21/2013 -- The Qatar Real Estate Report examines the commercial office, retail, industrial and construction segments throughout the country in the context of a robust economy and an optimistic outlook for the construction industry, which support the expansion potential of the commercial real estate market.
With a focus on the principal cities of Doha, Al-Khor and Al-Wakra, the report covers the rental market performance in terms of rates and yields over the past 24 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of the government fed construction boom on a market which is moving its way up the regional ranks.
The 2022 World Cup presents an obvious bonanza for the sector, although it stands to reason that much growth will be organic Qatari demand, as flows of retail-minded tourists are more likely to be directed to the UAE (primarily Dubai). Despite our in-country sources having limited information on vacancy rates, it is clear that the current effect of hosting the 2022 World Cup is an increase in demand and an improving construction pipeline.
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In spite of the seemingly overwhelming optimism for the market, it is not without its hurdles. In particular the market dynamics of the office sector have the potential for oversupply to become a dominant trend as with other states in the region. In addition, Qatari dependence upon the hydrocarbon sector has the potential to result in an uninspiring industrial real estate sector without diversification.
- Qatar's residential and commercial construction segment is going to be among the clear outperformers in the Middle East, bolstered by the Vision 2030 and World Cup projects. It is also going to be buttressed by a business environment that has drawn all the major engineering, services, banking and real estate Gulf and Middle East players to the market. Following the release of revised construction industry statistics by Qatar's central bank, last quarter we revised down our forecast for growth in the country's residential and non-residential construction industry. The revision comes as two costly non-residential projects - Lusail City and Doha Festival City - reach significant milestones in their development, and we thus note that we see our downgrading as reflecting more a lag in construction timeframes than a dampening of conditions. As such, we believe that fundamentals for growth in the sub-sector remain strong, but as we have previously highlighted development will likely be slower than previously expected.
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