Lazar Cartu Declares Speed up in development projects stimulates growth of real... - Jonathan Cartu Residential & Industrial Construction Services
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Lazar Cartu Declares Speed up in development projects stimulates growth of real…

Speed up in development projects stimulates growth of real...

Lazar Cartu Declares Speed up in development projects stimulates growth of real…

The progress achieved in the construction of highway networks in the run-up to Qatar 2022 FIFA World Cup realised a significant progress that accounts for 95 percent of total delivery, where all roads leading to Al Rayyan Stadium and the roads surrounding Al-Bayt Stadium were opened, in addition to accomplishing all construction works for the main sewage network spanning over 17km, which serves eight areas in northern Doha, including Rawdat AlJahaniya, Al-Thamid, Rawdat Iqdam, Northern Al-Nassiriya, Bani Hajir, Al-Kharaitiyat, and Izghawa, according to Ezdan Real Estate report.

Moreover, QR4bn- ten new contracts for infrastructure projects, meant to serve more than 8,400 housing plots in ten regions across the country, were concluded. The covered regions shall include Southern Al-Duhail, Umm Lakhba, Jeryan Najima, South Al-Mashaf, Al-Ab and Labeeb, Al-Maarad, southwest of Muaither, AlKharaitiyat and Izghawa, west of Sumaysimah, Al-Uqdah, AlHadan and Al-Khor.

The Public Works Authority (Ashghal) also launched new projects such as Sabah Al-Ahmad Corridor project, Khalifa Avenue, Maseemir intersection Al Shamal Bridge on Duhail intersection.

The continued growth of real estate sector is driven by this tremendous progress in development projects, which contribute positively to raising the demand for real estate investments in various regions of the country.

With regard to real estate activity during the period from May 17-21, 2020, the Real Estate Registration Department at the Ministry of Justice has registered 45 property transactions worth approximately QR329.7m, and the deals were distributed over eight municipalities: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Daayen, Al Wakrah, Al Shammal, Al Shahaniya. The deals included vacant land plots of land, housing, multi-use buildings, multi-use space, and residential buildings.

Al Rayyan Municipality ranked first in terms of the highest deal value by selling a vacant land plot spreading over an area of 44,456 square metres, at a price of QR313 per square foot, totaling QR 150m.

Whereas AlDaayen Municipality ranked second by selling two multi-use buildings in Jeryan Jenaihat area, with an aggregate value of QR 21m, each building spans over an area of 1200 square meters. The buildings were sold at a price of QR1,626 per square foot. On the other hand, Al Shamal Municipality witnessed the lowest property sale deal in terms of value for a land plot, at a square foot price less than QR115, totaling nearly QR500,000.

Jonathan Cartu