Weekly property sales cap QR1bn, says Ezdan report
November 28 2020 09:00 PM
Ezdan Real Estate

A remarkable rise was monitored in the weekly property sale activity as reflected in the bulletin released by the Real Estate Registration Department, which recorded total gains of QR1.02bn from property sale activity, according to the Ezdan Real Estate report.

Building sale deals have controlled the sale activity, forming the chunk of total volume generating as much as QR580.2mn, or 56.8% of total property sale, while vacant lands of all kinds made a QR441mn net value, or 43.2%, said the report, which is sponsored by SAK Partnerships.

The breakdown of the weekly property sale activity from November 15 to 19, 2020 showed that the deals made a total value of QR1.02bn divided into the municipalities of Umm Salal, Al Khor, Al Thakhira, Al Doha, Al Rayyan, Al Shamal, Al Daayen, and Al Wakrah, which included vacant lands, residences, multi-use buildings, mixed-use space and residential buildings.

Doha municipality has seen the highest deal in terms of value by selling a residential tower in The Pearl at a value of QR356mn. The tower spans over an area of 6,443sq m and sold at QR55,254 per square foot.

Al Wakrah municipality also witnessed the sale of vacant land lot in Al Mashaf area at a value of QR70mn. The land area is 53,841sq m, and the deal was clinched at a price of QR1,300 per square foot.

Ezdan Real Estate Company runs more than 22, 800 residential units and around 790 commercial units inside Doha and its environs, including Al Wakrah and Al Wukair. The company continues to invest in the real estate sector and contribute to real estate development in the State of Qatar on a large scale.

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