The value of real estate transactions in the State of Qatar recorded 1.4 Billion Riyals during the first half of April, which also coincides with the first half of the holy month of Ramadan. While that period witnessed the execution of 154 real estate deals with an average of 9.1 Million Riyals per deal, according to the data of the weekly real estate bulletin issued by the Real Estate Registration Department at the Ministry of Justice from 3 to 14 April 2022.
The weekly real estate index issued by the Market Research Department at Utopia properties company, indicated that the real estate deals that were executed during the first half of April varied to include 73 deals of vacant land with a total value of 474.1 Million Riyals, and 64 Houses deals with a total value of 203.7 Million Riyals,
According to Utopia index, the first half of April 2022 witnessed the execution of seven deals of residential buildings with a total value of 46.5 Million Riyals, three residential complexes worth 561.5 Million Riyals, three Multi-Purpose Vacant Lands worth 60.15 Million Riyals, in addition to three commercial buildings with a value of 38.9 Million Riyals and A palace worth 20 Million Riyals was also sold.
The Al Egla zone recorded three deals on 5th April worth 700 Million Riyals, through the sale of a residential complex worth 536 Million Riyals and 356 Riyals per foot with an area of 140,000 square meters, and two vacant land worth 84 and 80 Million Riyals with an average price of 300 Riyals per foot.
Al Egla`s transactions accounted for nearly 50% of the value of the total transactions that were executed in the first half of this month, as this zone is located in the administrative borders of Doha Municipality and adjacent to Lusail City where the Doha Golf Club is located.
The houses deals that were executed on the first half of April, amounted to 203.7 Million Riyals through the execution of 64 deals, with an average of 3.18 Million Riyals per deal, and their average price was 449 Riyals per foot.
The highest average price was recorded in Doha Municipality, which witnessed the execution of 14 deals worth 69.7 Million Riyals with an average of 521 Riyals per foot, then Al Dayyen Municipality which witnessed 6 deals worth 15.5 Million Riyals and an average of 487 Riyals per foot.
Thirdly, Al Rayyan Municipality which witnessed the execution of 19 deals worth 52.4 Million Riyals and an average of 443 Riyals per foot, then Al Wakrah Municipality which witnessed the execution of 9 deals worth 23.9 Million Riyals with a price of 423 Riyals per foot. While the lowest price per square foot among houses deals was in Al Shamal that came through two deals worth 3.7 Million Riyals and a price of 289 Riyals per foot.
In terms of vacant land deals, their total value amounted to 474.1 Million Riyals through the execution of 73 deals, with an average of 6.5 Million Riyals per deal, and an average price of 369 Riyals per foot.
Doha Municipality topped the list in terms of the number of deals by executing 21 deals worth 247.4 Million Riyals with an average of 494 Riyals per foot, followed by Al Rayyan Municipality by executing 16 deals for vacant lands with an average of 463 Riyals per foot and a total value of 102.8 Million Riyals.
And thirdly, Al Dayyen Municipality through the execution of 17 deals worth 69.7 Million Riyals with a value of 302 Riyals per foot, while Umm Slal Municipality recorded three deals with an average of 220 Riyals per foot with a value of 27.3 Million Riyals, then Al Khor & Al Dhekra which witnessed the execution of 5 deals with a value of 7.1 Million Riyals and an average of 213 Riyals per foot. While the lowest price per foot among vacant land deals was in Al Wakrah Municipality which recorded 11 deals worth 19.7 Million Riyals with a price of 210 Riyals per foot.