Cityscape highlights growth of Qatar’s property market, says MoCI minister

Cityscape Qatar 2021 is an important platform to showcase the developments being witnessed by the country’s real estate sector, HE the Minister of Commerce and Industry and Acting Minister of Finance Ali bin Ahmed al-Kuwari said.He made the statement on Sunday after inaugurating Cityscape’s ninth edition at the Doha Exhibition and Convention Centre (DECC). The event will run until October 19 to showcase the latest real estate projects by Qatar’s leading developers.The minister emphasised that the growth in Qatar’s property market underscores the “projected positive growth indicators of the national economy and the recovery of real estate markets during the coming period.”Al-Kuwari stressed that Qatar’s interest in Cityscape reflects the State’s belief in the pivotal role played by the real estate sector in supporting the national economy’s diversity and competitiveness. Furthermore, the minister expressed hope that Cityscape Qatar 2021 would achieve “tangible results” that consolidated Qatar’s position as an ideal destination for real estate investment in the region. Following the ribbon-cutting ceremony, al-Kuwari toured the exhibition hall and visited a number of pavilions. He also witnessed the signing of a contract between Qatar Chamber and Qatari Diar for the purchase of a new building for the chamber’s main headquarters in Lusail Commercial Boulevard. Al-Kuwari witnessed the contract signing between Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani and Engineer Abdullah bin Hamad al-Attiyah, the CEO of Qatari Diar. The minister also visited the pavilion of Barwa Real Estate Group to set the foundation stone for the launch of its new residential project, ‘Furjan Wadi Lusail’. Group CEO Abdullah Jubara al-Rumaihi said: “In our fulfilment of the group’s role as a leading national real estate company, we are showcasing non-traditional projects to the Qatari market, such as ‘Madinatna’ and ‘Barahat Al Janoub’ through our participation at this year’s edition of Cityscape Qatar. The Qatari market is still open for many opportunities, especially in the lead up to the 2022 FIFA World Cup.”The three-day event will unveil the country’s prominent real estate projects from top Qatari developers. Sheikh Nasser bin Abdulaziz al-Thani, head of Business Development at Qetaifan Projects, spoke on the residential market opportunities in the coming months.“We have seen our projects gain great sales over the recent months in our residential sector. Our island project has had great success with FDIs and we believe this trend will continue with the additional projects we will launch later this year to meet market demands,” Sheikh Nasser said.Throughout the event, which is held under the patronage of HE the Prime Minister and Interior Minister Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani, visitors can expect diverse discussions from Qatar’s government ministers and global consultants. Yesterday’s agenda included talks on the rise of digitalisation from top consultants McKinsey & Company, whilst post-pandemic workspace trends were the key focus during a panel discussion featuring speakers from Cushman & Wakefield, Servcorp, and Workinton.Changes in trends remained a key focus for companies at the show with over 30 local and regional exhibitors taking part over the next three days. Developers have taken note of changing demands from buyers both local and international, with new projects offering investors access to luxury developments across a range of price points.Chris Speller, group director of Cityscape, spoke on the diverse range of projects: “Qatar’s developers have responded quickly and effectively to the changing market and investor needs. “The wide range of project launching and on display at this year’s show is testament to that – from luxury waterfront properties to modern commercial developments. We look forward to seeing further launches and initiatives from Qatar’s leading developers over the next three days.” Cityscape, which is supported by Platinum Sponsors, Barwa and Qetaifan Projects, aims to shed light on the most prominent real estate projects across Qatar, as well as provide a platform for communication between residential buyers, investors, and real estate sector specialists in the field of design and construction.Ends