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Real Estate Price Index rises as second phase of lifting lockdown enters into force

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Real Estate price index in one week has seen a leap as the second phase of lifting lockdown restrictions enters into force.

Some municipalities have registered record deals worth QR1.5bn in three property sales in the Pearl, which contributed massively to the surge of the Pearl, according to Ezdan Real Estate weekly report.

Concerning the property sale activity registered by Real Estate Registration Department during the period from June 28 to July 2, 2020, the real estate bulletin reflected a volume entailing 113 property sale deals with a total value of approximately QR1.9bn, and the operations were distributed over 8 municipalities namely; Umm Salal, Al Khor, Al Dhakhira, Doha, Al Rayyan, Shamal, Shehaniya, Al Daayen and Al Wakra.

The deals included vacant land lots, residences, multi-use buildings, multi-use space, and residential buildings. Doha Municipality ranked first by top three deals in terms of value by selling three residential towers in the Pearl, each valued at QR500mn, at QR6858 per square foot, while the second tower, which spans over an area of 7236 meters, was sold at QR6419 per square foot.

The third tower, which is spanning over an area of 7238 meters was sold at QR6418 per square meter.

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