QATAR PREPARES FOR THE 2022 WORLD CUP AND FOR AN INFLUX OF VISITORS

Ibtihel Hagui
General Manager
Global Business Centre

Qatar has started its final preparations for hosting the 2022 World Cup, and the country is witnessing a massive facelift of its infrastructure and innovative real estate projects.

The tournament will welcome numerous visitors from all over the world, making it the perfect opportunity to highlight the advantages of Qatar, be it the lifestyle it offers, the business opportunities and the lucrative investment potential that the country possesses.

In turn, we have begun seeing an uptick in the progression of companies, as well as the introduction of new businesses in the country, working hand in hand with existing companies in order to reap the benefits of offering services to those who will attend the 2022 World Cup Tournament.

Consequently, this will reflect immensely on the real estate market, be it the commercial or residential sectors, which will also attract new investors, especially that the government has recently introduced new laws for foreign ownership, to attract capital and facilitate all government transactions and automate them by easing challenges for investors.

Qatar is well on its way to being a powerhouse in the region, be it through the real estate sector, or the hospitality and tourism sector, which we have firsthand seen a number of new developments on the coastal areas of Qatar.

You can clearly see a movement of urban revival and development which is geared to ensuring that visitors to Qatar are received in the best manner possible, with a number of large-scale developers taking interest in emerging areas outside of Doha, such as Al Meshaf and Al Wukair with large-scale projects and compounds. Of course, Lusail is one of the biggest developing projects in the country, which is already attracting high interest from investors. In addition, Msheireb Downtown Doha is another example of large-scale projects that have been completed with the highest standards. The real estate sector has recently witnessed a revived interest and trust from investors, especially after the governmental support which was announced for the sector in light of the pandemic. The Qatar Development Bank put in place a number of strategies that helped stabilise the real estate market, including offering a number of financial solutions to control the damages resulting from the pandemic. We will certainly witness an improved period for the business sector in the upcoming months, as we enter the third phase of reopening businesses and surging economies, and life returning to some normalcy. This is largely due to the strategies that were put in place by the government that avoid the effects of the pandemic.

This article was published as part of the sixth edition of Property Finder Qatar’s Trends Report.