Qatar Real Estate Market Surges with $1.16 Billion Deals in Q1 2024 | Kanebridge News
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Qatar Real Estate Market Surges with $1.16 Billion Deals in Q1 2024

Qatar’s real estate sector hit a record high with transactions worth $527 million, highlighting its strong growth.

Thu, Apr 11, 2024 6:52pmGrey Clock 2 min

January 2024 marked a significant peak in Qatar’s real estate transactions, setting a record with deals totaling $527 million. This remarkable achievement underscores the robust growth trajectory of Qatar’s real estate sector in the early months of the year.

The real estate sector in Qatar showcased substantial growth during the first quarter of 2024, with transactions amounting to QR4.253 billion, as reported by the Ministry of Justice. This performance highlights the sector’s upward momentum and its vital role in the nation’s economic landscape.

Long-Term Growth Prospects

Qatar’s real estate market is poised for sustaining growth, fueled by extensive infrastructure projects, nationwide industry expansion, and the Qatari government’s investment-friendly policies. These elements, coupled with a strong demand for secure investment opportunities, are set to drive the market forward.

In the first quarter of 2024, real estate transactions registered with the Real Estate Registration Department at the Ministry of Justice reached their peak in January with a total of QR1,919,640,254. The market remained active in February and March, recording transactions worth QR1.391 billion and QR942 million, respectively. This consistent performance reflects the sector’s dynamic nature and its significant economic contributions.

Economic and Legislative Catalysts

The surge in Qatar’s real estate sector can be attributed to the robust Qatari economy, expansive construction activities, and the successful implementation of economic diversification initiatives under Qatar National Vision 2030. These factors have significantly enhanced the sector’s appeal to both local and international investors, fostering a favorable environment for real estate brokerage, registration, and ownership.

January witnessed 362 real estate transactions valued at QR1.919 billion, indicating a 10% increase in sales and a 21% rise in traded areas compared to December 2023. The most active municipalities in terms of financial value were Doha, Al Rayyan, and Al Dhaayen, followed closely by Al Wakrah, Umm Salal, Al Shamal, Al Khor and Al Dhakira.

February continued the trend with around 350 transactions, totaling QR1.391 billion. The trading volume for March stood at QR942 million, maintaining the sector’s positive momentum.

Comparison with 2023 Performance

In 2023, the real estate sector recorded transactions worth QR16.703 billion across 3,579 deals, showcasing significant growth and momentum. February 2023 emerged as a standout month with 382 transactions, highlighting the sector’s vibrant activity and its critical role in Qatar’s economic development. This was followed by March with 340 transactions, then May 337 transactions.

When compared to real estate trading movement during 2022, the highest movement was seen in June (517), September (509) and February (445) transactions.

 



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Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah

Tonino Lamborghini recently revealed a new luxury project comprising 241 units in Ras Al Khaimah, developed in partnership with Arista Developments.

Tue, May 21, 2024 2 min

Named the Tonino Lamborghini Residences, this project promises a fresh take on luxury living with its iconic design, cutting-edge amenities, and stunning sea views.

Set on Al Marjan Island, the development is adding 241 high-end units to the area’s real estate offerings, all reflecting the sleek, Italian elegance associated with the Lamborghini name.

These residences are designed to impress, featuring modern architecture that harmonizes with the scenic surroundings and interiors marked by meticulous craftsmanship and top-quality finishes.

Living in this one of the project’s units means access to a range of upscale amenities: a state-of-the-art fitness center, multiple swimming pools, beautifully landscaped gardens, and dedicated areas for children’s play. The complex also offers a business center with a conference room, an outdoor BBQ area, and a chic café, catering to all aspects of high-end living.

Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, expressed excitement about the introduction of Tonino Lamborghini Residences to Al Marjan Island, noting the project’s blend of sustainable construction and smart home technologies. This integration, he mentioned, guarantees a luxurious lifestyle equipped with the finest modern amenities, reflecting the exquisite Italian craftsmanship. He is confident that this new venture with Arista Developments will significantly boost the allure of Al Marjan Island as a top lifestyle destination in Ras Al Khaimah for both investors and residents.

Tonino Lamborghini, President of the Tonino Lamborghini brand, said: “We are delighted to be among the pioneers in this remarkable new destination in one of the seven emirates of the UAE. Our heartfelt gratitude and recognition go to H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his visionary leadership and foresight, and for embracing innovative strategies to revitalize a region full of potential.”

Mr. Arthur Chu, Chairman of Arista Developments, highlighted the project’s ambition to capture the essence of the Tonino Lamborghini brand in every aspect of its design. He described the development of a prestigious residential tower on Al Marjan Island that will reflect the lifestyle and beauty synonymous with Lamborghini. From the sharp, well-defined lines of the exterior to the elegantly designed interior common areas, every detail is crafted to showcase the brand’s distinctive elegance and sophistication. Chu emphasized that the interior designs, personally crafted by Tonino Lamborghini, aim to fully immerse residents in the Italian brand’s luxurious identity.

The variety in housing options is vast, ranging from one and two-bedroom apartments to duplexes, sea view villas, signature villas, and exclusive penthouses.

The collaboration between Tonino Lamborghini and Arista Developments blends iconic Italian style with expert real estate craftsmanship. This venture marks Lamborghini’s first introduction to Ras Al Khaimah and represents a commitment to setting new standards in luxury and modern living.

 

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