A catamaran sails past Doha’s ever growing skyline.

Doha’s skyline is continuously dominated by cranes.

Khalifa Stadium at night, Doha.

Fireworks illuminate the Khalifa stadium at the 15th Asian games in Doha.

The sun sets on a less developed part of Doha.

The games torch of the Doha Asian games in 2006.

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Qatar calling

Banks are happy to loan against freehold properties, in Qatar National Bank's (QNB) case, up to 100% of the value, with loan tenors up to 30 years grace periods extended until handovers, for both Qataris and non-Qataris. International Bank of Qatar offers variable repayment terms, up to 90% finance and no repayments until the property is completed.

QNB has a strategic partnership with Dar Investment & Development Company and QNB Al Islami has provided Islamic finance to the tune of US$274m to Barwa Real Estate in order to fund their development projects.
Mortgages are available for up to 25 years on The Pearl-Qatar, which is slated for total completion in 2011, and up to 85% of the total purchase price can be financed. A deposit of 20% is required upon reservation, with the remaining 80% on completion.

Elsewhere, property companies such as Asteco are doing their bit to help grow the market - its low deposit offer deal with danatQatar, which has been extended to April 30, offers buyers the chance to pay US$13,700 deposit instead of the 10% payment usually required to secure an apartment.

Asteco Qatar general manager David Oayda said: "Investors are seeing danatQatar as a long-term investment and are looking to invest in Qatar as the Dubai property market becomes more saturated.

Eng Haider Al Mashaddi, managing director, Al Madar Group, said the real estate sector in Qatar is growing at a phenomenal pace, attracting massive investments from regional and international investors alike.

The unprecedented property market growth has also spurred an overall economic boom in Qatar, in turn boosting the demand for quality residential and commercial properties," he sai

Qatar is all set to announce its largest budget, for the fiscal year 2008-09 which begins from April 1, with more money likely to be assigned to public projects.

Infrastructure development projects concerning electricity and water, sewage, new ports, the new airport and establishment of industrial areas will receive increased attention.

Barwa Real Estate will build 2,000 cheaper housing units this year, in an inflation-curbing move, and 6,000 next year. Qatar is also building a US$1.1bn city on the outskirts of Doha, with state-of-the-art amenities to house up to 50,000 labourers, which will be completed in mid-2010.

Rental pressures

The Gulf-wide challenge of balancing rising property demand with inflationary pressures has been felt acutely in Qatar, with increased prices for land and construction materials further impacting the market.

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