RIDUANUR QURESHI ASSOCIATE FINANCIAL ANALYST
REPORT FROM THE PEARL GATES Qatar Real Estate Off-Plan Market Q1 2021 Qatar Real-estate market has seen significant growth in the recent year as it allows foreign buyers to own properties in freehold areas and granting resident permits. New non-Qatari ownership law no. 16 of 2018 extended freehold and leasehold areas across Qatar and also provide benefits based on the investment. According to The Planning and Statistics Authority Qatar, Real Estate experienced significant growth in sales volume by 63% in the 1st Quarter of 2021 compared to 1st Quarter of 2020. Among the freehold areas, Lusail and The Pearl Qatar are supplying the majority inventory in the real estate market including ready and off-plan apartments, villas, offices space and shops. Lusail is one of the fastest growing cities in the Middle East, Lusail City will include not only residential, hotel, and retail options, but also a wide range of community needs that includes schools, medical, sports, and entertainment. In the first Q1 of 2021, Lusail is supplying around 80% of Off-plan property and the remaining 20% is in The Pearl Qatar. Around 1,100 Off-plan properties were offered in the 1st quarter of 2021. The majority of the off-plan developments in Lusail and The Pearl Qatar are anticipated to be completed between 2022 and 2024. Developers such as Ariane Real Estate, Al Asmakh, UDC, and Qatari Diar provide excellent investment opportunities for both local and foreign investors, with flexible payment plans ranging from 4 to 6 years. The entire Off-plan property inventory consists of 45% two bedroom apartments, 31% one bedroom apartments, 7% three bedroom apartments, 6% Office Spaces, 6% percent Studio flats, and 5 percent Townhouses. The city of Lusail is divided into 19 districts, with property prices varying depending on the district's location and project. The average price of a low rise property in Lusail starts from 980,000 QAR and the average per sqm price is 12,300 QAR. In comparison, the typical pricing for a high-rise building in a premium location starts at 1.5 million QAR. THE PEARL GATES