The seventh edition of Cityscape Qatar, an annual event highlighting the rapidly growing real estate sector in the country, was inaugurated by HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani on Sunday at the Doha Exhibition and Convention Centre.
HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada, HE the Minister of Transport and Communications Jassim Seif Ahmed al-Sulaiti, and other public and private sector officials, also joined HE Sheikh Abdullah in touring the four-day exhibition.
HE Sheikh Abdullah also met with representatives from some of the leading local and international developers, including Qatar Rail, United Development Company, Qatari Diar and Msheireb Properties, among others.
The event, which concludes on Wednesday, opens various opportunities to entities keen to tap into “an unrivalled audience of real estate investors from around the world and many of the big names in the local property industry,” according to the organisers.
HE Sheikh Abdullah also led inauguration of United Development Company’s (UDC) pavilion at Cityscape, unveiling the company’s latest real estate project, Gewan Island. It is expected to be completed by the end of 2021.
The opening of Cityscape Qatar also witnessed Qatar Rail’s signing of its first naming rights agreement with Qatar Insurance Group.
Katara Hospitality highlighted its Salwa Beach Resort in Doha, scheduled to be completed next year. The resort is dubbed as “the Middle East’s premiere destination beach resort,” featuring a private beach, marina and yacht club, a themed water park, dive centre and a shopping mall.
Barwa Real Estate is showcasing its Dara project, a commercial and residential complex with 1,820 units in Lusail. Ezdan and Astad are showcasing some of their latest developments and upcoming projects in the country.
According to organisers, the event provides a chance for homebuyers and investors to network, gain valuable market insight, seek advice on their next real estate purchase, and take advantage of exclusive deals, special offers and payment plans on the show floor.
Besides supporting Business-to-Business industry developments, a DTZ Qatar-hosted conference provided a platform for discussion on current market affairs in the real estate sector.
DTZ showed a market overview, citing key figures and developments on the Qatari real estate sector, residential, commercial, retail and hospitality sectors.
In a statement, DTZ director Mark Proudley highlighted the real estate sales activities in comparison to the previous 12 months.
“The number of real estate transactions recorded by the Ministry of Development Planning and Statistics in H2 2017 increased by 4.2% compared to the same period in 2016, with the value of transactions also increasing 4.5% to QR15.7bn. October 2017 recorded the greatest volume of sales by value QR6.52bn since July 2015,” he said.
Looking at the residential sector, DTZ maintains that property will be driven by population increase.
“It is anticipated that the majority of the population increase in the coming years will be generated by expatriates in the service industry, as construction projects complete. DTZ expects this to drive demand for affordable residential property,” according to the report.
Meanwhile, Cityscape Talks will tackle real estate trends, investment hotspots in the country and around the world, and real estate investment trusts.
Speakers include representatives from Qatar’s financial sector, including Mohsin Mujtaba from the Qatar Stock Exchange and Khalid Hassan Al Mehshadi from the Qatari Ministry of Justice.
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