Qatar real estate deals close to QR1bn in a week

Figures come as new data also showed the Gulf state’s foreign trade surplus increased to $9.2bn

Real estate transactions in Qatar topped almost QR1 billion last week, new figures show.

It comes as new data also showed the Gulf state’s foreign trade surplus also increased to QR33.3 billion ($9.2bn).

The figures show between June 22 and 26 real estate sales contracts registered at the Ministry of justice totaled QR914,457,833 ($251.2m) the real estate registration department at the Ministry said in its weekly report, Qatar News Agency reported.

The list of properties that were traded by sale include open plots of land, two floors villas, annexes, houses and residential buildings which are located in the municipalities of Umm Salal, Al Khor, Al Dhakira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakra.

Meanwhile, Qatar’s foreign trade surplus rose to QR33.3 billion ($9.2 billion) in May from QR30.9 billion a year ago.

A statement of the Ministry of Development Planning and Statistics said on Tuesday that exports of petroleum gases and other gaseous hydrocarbons increased by 10.7 percent year-on-year to QR27.2 billion in May.

In May, the major countries of destination for Qatar’s exports were Japan with QR 9.3 billion, a share of 22.1 percent of total exports, South Korea with QR7.3 billion (17.3 percent), and India with QR 5.7 billion (13.5 percent), QNA reported.

Motor cars and other passenger vehicles were at the top of the imported group of commodities at QR0.5 billion, showing a decrease of 22.4 percent compared to May 2013.

This was followed by iron ore and concentrates, including roasted iron pyrites reaching QR 0.5 billion, which increased by 96.0 percent, and aircraft spare parts (QR0.4 billion, down by 10.7 percent).

China was the leading country of origin of Qatar's imports with QR 0.9 billion, a share of 10.3 percent of the imports, followed by the US with QR0.87 billion (9.9 percent), and UAE with QR 0.8 billion (8.8 percent).

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Posted by: Michael Hayes

This is only additional proof to the fact that the property market in Qatar is a long term buoyant and stable opportunity for overseas investors....

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