Posted on January 10, 2015

The final week of 2014 witnessed strong real estate transaction deal in terms of volume, said The Peninsula. The week saw a total of 94 deals, worth a combined value of QR1.4bn. The surge in the deal value was supported by the execution of four major deals that crossed QR1m in total value.

According to Ezdan Holding Group, Al Wakrah Municipality topped both in terms of value and transaction numbers. The municipality saw closing of a total of 25 deals worth QR1.03bn, representing 72.6 percent of the total transactions value during the week. With 15 transactions, Al Daayen recorded second largest number of transactions. The top single deal of the week in Al Wakra was a QR300m worth transaction for a residential compound in Al Wukair. The land lots transaction recorded 1.9 percent of the total Doha transactions for a combined value of QR20.1m.

Al Shamal Municipality ranked second in terms of value. The trading value in the municipality represented QR138.5m through nine deals. A single major deal saw the sale of a hotel at a value of QR130m, with an area of 40,157 sqm at QR3,237 per sqm. The acquired lands in Al Shamal represented 5.1 percent of the total transactions in the municipality, worth QR7m, while other diversified real estate registered a value of QR131.5 m.

Doha Municipality ranked third in terms of real estate value with QR95.2m, compared to QR632.2 from the previous week, a record decline of 85 percent. The total number of deals closed in the municipality declined to 14, compared to 38 in the previous week. The value of highest deal in Doha reached QR13m through the sale of a 2,070 sqm land at QR6280 per sqm in Nuaijah. The acquired land space represented 34.8 percent of the total transactions executed in the Municipality worth QR33.1m, while other real estate transactions acquired 65.2 percent worth QR62.1m.

Al Rayyan Municipality's transaction value hit QR48.7m, down 3.2 percent. The municipality saw execution of 13 deals, representing 3.4 percent of the overall transactions. The value of the highest deal in Al Rayyan amounted to QR10m from the sale of a 1,763 sqm. In Al Rayyan, land deals represented 53.8 percent of the transactions for a combined value of QR26.2m, while other deals recorded QR22.5m. Umm Salal Municipality recorded transactions worth QR47.1m through 10 deals, a rise of 51 percent compared to the previous week. The value of the highest deal in Umm Salal amounted to QR22.4m from the sale of a villa in Al Kharaitiyat. Land deals represented 39 percent of the transactions worth QR18.4m.

Al Daayen Municipality's transactions value hit QR46.1m, through the execution of 15 deals.The value of the highest deal in the municipality was worth QR4.7m. The land deal represented 30.4 percent of the total transactions, worth QR14m. The transaction value in Al Khor and Thakhirah Municipality stood at QR12m through eight deals, a decline of 10 percent compared to the previous week. The largest deal in the municipality recorded QR1.6m through the sale of 484 square meters land in Al Khor. The Ezdan report forecast that property transactions will further go up in 2015, especially in the land sector.