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Qatar’s real estate market activity has seen a rebound performance that surged to record levels, backed by a significant number of property sale deals executed during the past week, as well as the number of exceptional deals concluded during the same period, following the announcement of lifting the lockdown restrictions on a 4-phase plan as part of the gradual easing of precautionary measures against Coronavirus outbreak, which started its first phase in mid-June.
Although the market recovery did not fall within the gradual lifting stages, optimistic sentiments affected the market positively, Ezdan Real Estate report noted. With regard to real estate activity and the volume of sales registered during the period from 7-11 June 2020, Real Estate Registration Department has registered 125 property sale deals, worth approx. QR 962.9mn, and the deals were distributed among seven municipalities: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakrah.
The transactions entailed vacant land lots, residences, multi-use buildings, multi-use vacant land lots, and residential buildings. Doha Municipality ranked first in terms of the highest deal by selling a Tower in Onaiza region, spanning over 4203 square feet, where the deal is concluded at QR6776 per square foot, totaling QR 306.6mn.
Doha Municipality also ranked second by the highest deal in terms of value after selling a residential building in the old airport area, with a value of QR127.6mn, spreading over an area of 4443 square meters at a price of QR2667 per square foot.
The third exceptional deal also was concluded in Doha Municipality after selling a Residential complex in New Salata, over an area of 11818 square meters, at QR617 per square foot price, realizing a total transaction of QR78.5m. Al Shamal Municipality witnessed the lowest property sale deal in terms of value
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