Al Raya Newspaper: AREDC Qatar real estate report

Al Raya Newspaper: AREDC Qatar real estate report

20 billion dollars cost of tourism projects in Qatar before 2022

The weekly report of Al Asmakh for real estate projects that total demand for real estate in Qatar will increase significantly because of government spending on development projects and infrastructure that intends to set up Qatar to host the World Cup, “2022”, estimated at “64” billion.

The report added that the office space and administrative experience in the lack of demand than supply and this is expected to increase demand during the subsequent periods because of the projects will be assessed by Qatar.

The report pointed out that despite the lack of demand for office space but the first half of the year “2012” has rented “200” thousand square meters compared with the “173” thousand square meters a year “2011”, pointing out that the size of this demand has exceeded the levels recorded in year “2008.”

AL Asmakh Report: As seen spaces available for rent in West Bay area attracted by “20%” during the first half of this year, where the space offered for rent end of the year “2011” by “335” thousand square meters and down this area in the first half of this year to “210” thousands of square meters available for rent.

As Al Asmakh report that the area of public sector management and offices in Qatar amounted to approximately “3.7” million square meters of “1.43” million square meters in the western Gulf.

The report expected to be completed by the implementation of “70” thousand square meters of office parcels and administrative end of the year, including “54” thousand square meters in the West Bay area.

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