Posted on July 05, 2011

The Qatar National Vision 2030, as set out by His Highness the Emir Sheikh Hamad bin Khalifa Al Thani, was launched in 2008. It aims at transforming Qatar into an advanced economy by 2030 capable of sustaining its own development and providing for a high standard of living for its entire people, for generations to come.

By winning the right to host the 2022 FIFA World Cup Final, Qatar must manage huge steps in the development of the country. As a direct result of this, The National Development Strategy (NDS) has just established an action-based, targeted plan, from 2011 through to 2016 to help realize the ambitious objectives of the Qatar National Vision 2030.

Mr. Mirco Alexander Maurer

Approvals have been given for many tenders and with many more in the pipeline for the 2nd  half of 2011 as well as 2012. There is a massive amount interest from international companies to start business in Qatar within the next 12-24 months. Many Qatari’s are also looking at ways to establish new business-lines, because of the expected economic growth. The International Monetary Fund (IMF) is expecting the economy of Qatar to grow as much as 20% in 2011.

This all produces more requests for office space’s as well as residential units and we have already started to see this in the 1st half of 2011. The interest in compound villas located close to the malls and apartments in West Bay has increased greatly, especially if priced competitively. With the expected annual population growth of around 4% this interest will grow and balance housing units demand over the coming years. We see 2011 - 2012 as a good time for investors, as the prices have been on a downward spiral since mid 2008 and are currently at an attractive and stable level.

That is why we have added to our newsletter "Investment" as a topic and we will regularly update you on attractive real estate investments. We can already see investors getting more confident in the Qatari market and investing into the real estate sector. Currently the private and institutional investors prefer to invest into existing properties more than in new developments; however, with the proposed outlook for Qatar, Investors should keep their eyes open for new developments in the real estate market as these can provide very attractive yields.

by Mirco A. Maurer, ENGEL & VÖLKERS