The prospects for the real estate and construction sectors in Qatar appear to be brighter in 2024 with building permits issued witnessing double-digit year-on-year growth in December 2023, according to the official estimates.
Doha's outskirts displayed opportunities as Al Khor, Al Rayyan, Al Daayen, Al Shamal and Umm Slal municipalities reported higher than average growth in building permits issued in December 2023, according to the Planning and Statistics Authority (PSA).
The country saw as many as 627 building permits issued in December 2023, which gained 19% year-on-year.
The building permits data is of particular importance as it is considered an indicator for the performance of the construction sector, which occupies a significant position in the national economy.
Of the total number of new building permits issued, Al Rayyan constituted 194 permits, 31% of the total; Doha 125 permits (20%), Al Daayen 100 permits (16%), Al Wakra 94 permits (15%), Umm Slal 44 permits (7%), Al Khor 41 permits (7%), Al Shamal 15 permits (2%) and Al Shahaniya 14 permits (2%) in the review period.
Total building permits issued in Al Khor soared 115.8% year-on-year this September, Al Rayyan (78%), Al Daayen (31.6%), Al Shamal (25%) and Umm Slal (15.8%); while those in Al Wakra declined 27.7% and Al Shahaniya 22.2%.
On a monthly basis, total building permits issued in the country shrank 16% with Al Wakra reporting 25% decline, Al Daayen (23%), Al Shahaniya (22%), Al Rayyan (19%), Umm Slal (14%) and Doha (13%); while those in Al Khor and Al Shamal grew 52% and 15% respectively in December 2023.
The new building permits (residential and non-residential) constituted 245 permits or 39% of the total building permits issued in September 2023, additions 368 (59%) and fencing 14 (2%).
Of the new residential buildings permits, villas topped the list, accounting for 79% (172 permits), dwellings on housing loans 14% (31), and apartments 7% (16).
Among the non-residential sector, the industrial buildings as workshops and factories accounted for 42% (11 permits), commercial structures 38% or 10 permits, other unspecified non-residential 12% or three permits in the review period.
Qatar saw a total of 288 building completion certificates issued in December 2023, of which 235 or 82% was for the new buildings (residential and non-residential) and 53 or 18% for additions.
The total building completion certificates issued Qatar saw a 14.5% dip on an annualised basis in December 2023 with Al Shamal reporting 80% contraction, Al Daayen (26.9%), Al Rayyan (23.3%), Al Shahaniya (22.2%) and Al Wakra (9.5%).
Nevertheless, those issued in Al Khor reported a 44.4% surge, Umm Slal (10.53%) and Doha (8.3%) in the review period.
The total building completion certificates issued in the country saw a 20% month-on-month shrinkage in December 2023 with Al Shahaniya registering 36% plunge, Al Rayyan (28%), Al Daayen (24%), Al Wakra (23%), Al Khor (19%) and Umm Slal (5%).
However, in the case of Doha, there was a 6% increase; while those in Al Shamal remained flat in the review period.
Al Rayyan constituted 69 certificates or 24% of the total number of certificates issued in December 2023, Al Wakra 67 certificates (23%), Al Daayen 57 (20%), Doha 52 (18%), Umm Slal 21 (7%), Al Khor 13 (5%), Al Shahaniya 7 (2%) and Al Shamal 2 (1%) in December 2023.
Of the 204 residential buildings completion certificates issued in September 2023, as many as 136 or 76% were for villas, 26 or 14% dwelling on housing loans, 7% or 13 for apartments, and five others.
Of the 136 villas completion certificates issued in December 2023, as many as 37 were in Al Daayen, 34 in Al Rayyan, 22 in Doha, 18 in Al Wakra, 14 in Umm Slal, seven in Al Khor, and two each in Al Shamal and Al Shahaniya.
In the case of 13 apartments, Doha issued eight completion certificates; three in Al Daayen, and one each in Al Wakra and Al Rayyan in December 2023.
The country saw as many as 627 building permits issued in December 2023, which gained 19% year-on-year, according to the Planning and Statistics Authority.