REAL ESTATE
FIND YOUR PLACE IN DOHA
Engel & Völkers counts 2012 as a good year for both commercial and residential parts of the real estate market in Qatar. The increase in requests for of�ice spaces and the reasonably stable residential market throughout 2012, also announced the expectation of an even higher demand in 2013. Mirco Alexander Maurer, Managing Director, Engel & Völkers, takes a look at the future developments of Qatar’s real estate market. Mirco is the Managing Director of ENGEL & VÖLKERS. He holds a Master Degree (German Diploma) in Business Administration from the University of Applied Sciences in Nürtingen, Germany. Mirco is an expert for residential, retail and office properties, and is specialised in sales, letting, valuation and consulting. Mirco can be contacted at Mirco.Maurer@engelvoelkers.com
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f we look upon the commercial real estate market, a research done by Engel & Völkers shows that the main requests exist for commercial land in order to build new offices and mixed-use towers. Furthermore, the requests also relate to the plans for new hospitals, shopping malls, logistic centers and other commercial properties.
Since the announcement of the successful bid for FIFA World Cup 2022 in December 2010, the construction has been going ahead much faster. The number of new commercial office buildings rises continuously. A lot of prime offices with some retail spaces on the ground levels, like within the Jaidah Square or Doha Tower, were recently completed.
The demand for office space in Qatar is currently on a satisfactory level. In addition, plans related to the huge projects, especially in the infrastructure sector, will bring more engineering and construction professionals to Doha and they will also require office areas.
Currently, the total office supply in Doha is approximately 3.6 million square meters. In addition, more than 30 new office towers, which are currently under construction, will be offered in the market during 2013 and 2014. The most known are The World