Buoyed by the response from this year's edition despite the Covid-19 challenges, Cityscape Qatar 2022 will see more global firms, including proptechs and other allied segments supporting the real estate sector, as Doha is now on the overdrive in smart cities initiative.
"We are very happy with the response in terms of activities, visitors and participants although it cannot be compared to the previous versions," said Alexander Edwards, Sales Director for Cityscape.
Highlighting that this year saw 15% of the participating companies from international markets; he said, "Going forward, we plan to have more of them. Our drive for next is to get more global businesses."
Asked how Qatar's promising potential to be showcased, he said the strategy would be county and company level interactions as Qatar has increasing potential not only in the real estate but also in allied sectors, apart from the legacy of the 2022 FIFA World Cup
Highlighting that the real estate is not just brick and mortar, he said the idea is to bring in proptechs as well as the architecture, design, commercial, hospitality sides, in view of smart cities being implemented.
Qatar’s model concept of smart cities is gradually turning into a reality through Msheireb Downtown Doha and Lusail City.
The opportunity to showcase proptechs comes in view of the real estate market trending toward efficient systems and addressing new consumption patterns, especially in the backdrop of coming up of smart cities.
It optimises the research on rent, buy, sell, and managing a property; benefiting across the developers, investors, and property management entities.
According to Al Tamimi and Co, a leading law firm, proptech is becoming increasingly prevalent at every stage of a real estate asset’s life cycle from financing and construction through to its disposal.
Qatar is experiencing incredible growth ahead of the 2022 FIFA World Cup and there are compelling reasons for Doha's growth story to be canvassed in a broader and wider scale, according to the feedback from a cross section of the participants at the Cityscape.
The three-day event saw project launches and key updates on mega in-progress projects.
The exhibitors included Qatari Diar Real Estate Investment Company, Qetaifan Projects, Sotheby's International Realty, Barwa Group and United Development Company.
"With the World Bank forecasting economic growth of 4.1% for Qatar in the next year, the country’s real estate market is flourishing with new developments," Edwards said.
The country’s purchasing managers’ index has pointed to a robust non-energy private sector, especially in the construction.