Optimistic investor sentiment on the back of Cityscape Qatar

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7 May 2018

Confidence in the real estate sector is on the rise following the successful four-day Cityscape Qatar, which came to an end in April.

Cityscape Qatar, the country’s largest real estate and investment event in the country, attracted thousands of visitors, investors, and homebuyers looking to avail an array of real estate opportunities from local and international developers.

The show kicked off in April following its inauguration by HE Excellency Sheikh Abdulla Bin Nasser bin Khalifa Al Thani, Prime Minister and Minister of Interior; and over the course of four-days drove confidence in the real estate sector as local and international developers came out in full force to unveil and promote their latest projects.

Local exhibitor, United Development Company (UDC), one of Qatar’s leading public shareholding companies, sold properties worth around QR 70 million. The company created quite a buzz among visitors following the unveiling of Gewan Island, being developed alongside The Pearl-Qatar as part of UDC’s five-year sustainable growth strategy.

While exhibitor Ezdan Holding showcased some of its mega projects including Ezdan Oasis and Ezdan Palace. Qatar Rail showed the future of transport in the country, showcasing its Transit Oriented Developments (TOD), mixed-use, pedestrian-friendly developments around rail transit stations that act as community hubs with easy walkability, minimal parking that will enhance public transport use.

The exhibitor also signed several high-level agreements at the show, including the signing of its first naming rights agreement with Qatar Insurance Group.

This year, Cityscape Qatar showed a strong presence from Turkish developers, who displayed projects from across Turkey in the residential, office, commercial, and hospitality sector.

“The strong turnout is evidence of a resilient market and illustrates that there is steadfast demand for real estate,” said Faariss Khalil, Exhibition Manager at Cityscape Qatar. “The immense success of this year’s show can be attributed to the attractive payment structures offered to investors and potential homebuyers and confirms that the appetite for property will continue to rise fuelled by developers launching new projects which speaks to the need of Qataris.”

According to real estate consultancy DTZ’s recent report, future demand for residential property will be driven by population increases expected over the next few years, anticipated in the service industry, as construction projects complete.

In addition, the DTZ report notes that non-hydrocarbon GDP growth is expected to rise almost 5% this year, a good sign, especially as preparations for the 2022 World Cup are expected to continue to fuel population growth and drive domestic demand.

Running in parallel to the exhibition, this year’s Cityscape Qatar Conference saw DTZ provide an overview of the real estate sector over the last year, while panel discussions took an in-depth look at inbound and outbound investment opportunities, delved into smart and sustainable buildings and offered updates on the hospitality sector.

A popular feature at this year’s event was the Cityscape Qatar Talks, which saw hundreds of visitors attend. The free-to-attend seminars, held each day on the show floor, covered a range of real estate topics – from investment hotspots in Turkey to real estate trends in Qatar.

Speakers included representatives from Qatar’s financial sector, including Mohsin Mujtaba, of Qatar Stock Exchange; and Youssef Al Obeidely from the Ministry of Justice.

Giving a detailed presentation on the authorised notary and the growing demand for real estate registry, Al Obeidely provided an overview of notary services.

“Real estate registration and notarial services are two of the core concerns of the Ministry of Justice, and the authorised notary is a new initiative that is aligned with the growing demand on real estate registration, and is part of the modernisation of the ministry’s services,” he said.

Cityscape Qatar returns next year from the 1 – 3 April at the Doha Exhibition and Convention Centre.