Qatar Real Estate to Grow 20% in 2011

Hydrocarbons will continue to dominate national prosperity but, with the completion of the last of the major hydrocarbons projects in 2012, the emphasis of Qatar’s National Development Strategy (NDS) is emphasizing developing the non-hydrocarbon sector. In a report composed by Samba Financial Group, they project that real GDP growth will exceed 20 percent this year before slipping to 6 percent next and – in line with the NDS – hold at around 4-5 percent a year post-2012 as the non-hydrocarbon sector takes over as the engine of growth. This will be supported by the massive $226 billion planned investment program, including $95 billion from the central government. A number of major real estate projects such as the Pearl, Lusail, and Musheireb Properties (formerly Doha Land) are still moving ahead to accommodate the future growth of the local market. We’ve found that there continues to be an increase in interest in “lifestyle” property projects such as the aforementioned, with more and more tenants and buyers flocking to areas such as the Pearl