Qatar’s biggest property deal in the third week of March generated QR14.5 million through the sale of a 6,425 square-metre vacant plot in Al Wakra, at QR210 per foot, according to Utopia Properties.
In addition, a 3,139-sqm vacant plot in Al Daayen Municipality’s Jeryan Jenaihat zone was sold for QR14.3 million, at QR280 per foot. Umm Slal Municipality’s Al-Kharaitiyat zone witnessed a deal for a 3,139-sqm residential complex worth QR14 million, at QR414 per foot.
The value of real estate transactions in Qatar recorded QR382.5 million in the third week of March with a growth of 61 percent compared to the previous week. While that period witnessed the execution of 99 real estate deals, with a growth of 34 percent and an average of QR3.9 million per deal, according to the data of the weekly real estate bulletin issued by the Real Estate Registration Department at the Ministry of Justice from March 13 to 17, 2022.
The weekly real estate index issued by the Market Research Department at Utopia properties company indicated that the real estate deals that were executed during the third week of this month varied to include 40 houses deals that accounted for 36.2 percent of the total number of weekly transactions with a total value of QR138.5 million, 53 deals of vacant land that accounted for 53.5 percent of the total number of weekly transactions with a total value of QR191.2 million, which constituted 50 percent of the transactions value, in addition to four deals of residential buildings with a total value of QR25.8 million, one commercial building with a value of QR13 million and a residential complex worth QR14 million .
According to Utopia index, 49% of the total executed weekly real estate deals were concentrated in the Municipalities of Doha and Al Rayyan.
The houses deals that were executed on the third week of March, amounted to QR138.5 million through the execution of 40 deals, with an average of QR3.46 million per deal, and their average price was QR449 per foot. The highest average price was recorded in Doha Municipality, which witnessed the execution of seven deals worth QR33 million with an average of QR555 per foot, then Al Dayyen Municipality, which witnessed seven deals worth QR22.2 million and an average of QR496 per foot.
Thirdly, Al Rayyan Municipality, which witnessed the execution of 12 deals worth QR50.6 million and an average of QR464.5 per foot, then Al Wakrah Municipality, which witnessed the execution of five deals worth QR14.05 million at a price of QR464 per foot. While the lowest price per square foot among houses deals was in Al Sheehaniya Municipality that came through one deal worth QR1.4 million at QR173 per foot.
In terms of vacant land deals, their total value amounted to QR191.2 million through the execution of 53 deals, with an average of QR3.61 million per deal, and an average price of QR307 per foot.
Doha Municipality topped the list in terms of the number of deals by executing 13 deals worth QR39.5 million with an average of QR422 per foot, followed by Al Rayyan Municipality by executing 12 deals for vacant lands with an average of QR327 per foot and a total value of QR60.9 million.
And thirdly, Al Dayyen Municipality, through the execution of nine deals worth QR45 million with a value of QR279 per foot, while Al Wakrah Municipality recorded five deals with an average of QR273 per foot, with a value of QR22.5 million, then Umm Slal Municipality, which witnessed the execution of nine deal with a value of QR17.6 million and an average of QR235 per foot.