Analyzing Qatar’s Real Estate Performance in January
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The trading volume in Qatar’s real estate sector reached QR 1,919,640,254 in January, as reported by the Real Estate Registration Department at the Ministry of Justice. The month saw a total of 362 real estate transactions. When compared to December 2023, there was a 10% increase in the real estate sold and a 21% rise in the traded areas.
The municipalities of Doha, Al Rayyan, and Al Dhaayen were the most financially active in January’s real estate transactions, followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor, and Al Dhakira. The financial values of transactions were notably high in Doha at QR 1,182,738,449, Al Rayyan at QR 380,869,371, and Al Dhaayen at QR 135,673,354, with other municipalities also showing significant trading values.
Doha, Al Rayyan, and Al Wakrah led in terms of traded real estate spaces, with respective percentages of 36, 30, and 12% of the total traded spaces. The transaction activity in terms of the number of sold properties saw Doha leading with 33%, followed by Al Rayyan at 22%, and Al Dhaayen at 15%.
The average prices per square foot in January varied across municipalities, with the highest ranges in Doha (546-913) and the lowest in Al Shamal (158-280). The month’s trading volume highlighted the sale of 10 properties, predominantly in Doha, with 9 properties sold, and one in Al Rayyan.
Mortgage transactions in January reached 122, totaling QR 3,646,432,760 in value. Al Rayyan saw the highest number of mortgage transactions, making up 30.3% of the total. The value of mortgages was highest in Al Rayyan, totaling QR 2,664,345,287, while Al Khor and Al Dhakira recorded the lowest mortgage value.
The trading of residential units involved 73 transactions, with a combined value of QR 158,720,127.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This collaboration will extend into the fourth phase of Azizi’s Riviera project in MBR City, with Cummins supplying top-tier power generators.
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Azizi Developments, a prominent private developer in the UAE, and Cummins Inc., a global leader in power solutions design, manufacturing, distribution, and supply, are extending their partnership into the fourth phase of the large-scale Riviera project. Cummins, known for its diverse range of products including diesel, natural gas, electric, and hybrid powertrains, as well as powertrain-related components, like filtration, after-treatment, turbochargers, fuel systems, control systems, air handling systems, automated transmissions, electric power generation systems, batteries, hydrogen generation, and fuel cell products. The manufacturer is globally renowned for its excellence in both innovation and sustainability.
Mr. Farhad Azizi, CEO of Azizi Developments, said: “As we continue our collaboration with Cummins Inc. for the fourth phase of our flagship project, Riviera, we reaffirm our commitment to procuring and utilizing only the highest quality materials. This partnership highlights our dedication to providing exceptional lifestyles for our investors and end-users through the careful selection of premium components. We are confident that our now-broadened alliance with Cummins Inc. will help in maintaining the high standards established for Riviera and further elevate the benchmarks of quality and excellence.”
Riviera is part of Azizi Developments’ award-winning portfolio. It is a stylish waterfront lifestyle destination that comprises 75 mid- and high-rise buildings with approximately 16,000 residences.
Designed to introduce the French-Mediterranean lifestyle to Dubai, which is not merely about architectural art, but also about a certain ‘joie de vivre’ — a celebration of life, an exultation of spirit, Riviera represents a new landmark destination that is both residential and commercial, with an abundance of retail space. Riviera features three districts: an extensive retail boulevard, a lagoon walk on the shores of its 2.7 km-long swimmable crystal lagoon with artisan eateries and boutiques, and Les Jardins — a vast, lush-green social space.
With its strategic location near the upcoming Meydan One Mall and the Meydan Racecourse — home of the Dubai World Cup — as well as Dubai’s most noteworthy points of interest, Riviera represents one of Azizi Developments’ most coveted projects.
Azizi Developments’ Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
