His Excellency, Sheikh Abdulla Bin Nasser bin Khalifa Al Thani, Prime Minister and Minister of Interior officially inaugurated the 7th edition of Cityscape Qatar today, opening the doors to organisations keen to tap into an unrivalled audience of real estate investors from around the world, and many of the big names in the local property industry.
Touring the exhibition halls, HE Excellency Sheikh Abdulla Bin Nasser bin Khalifa Al Thani, Prime Minister and Minister of Interior met with representatives from some of the leading local and international developers including Qatar Rail, United Development Company, and Qatari Diar.
His Excellency concluded his tour with the official inauguration of United Development Company’s (UDC) pavilion at Cityscape 2018, where he unveiled the company’s latest real estate project, Gewan Island, in front of a packed audience of VIP’s and media.
Gewan Island, UDC’s latest real estate project next to The Pearl-Qatar, spans across 400,000 sqm with a total built up area of 388,000 sqm. The project, which is expected to be completed by the end of 2021, will accommodate 3000 residents and 6000 visitors including working professionals, bringing the total number of daily visitors to 9,000. The island will be home to 611 units, including 558 apartments, 26 waterfront villas, 21 beachfront villas, and 6 island villas in addition to 21,000 sqm of retail space and a number of residential buildings.
His Excellency, Mr. TurkiBin Mohammed Al Khater, Chairman of UDC adds: "We are pleased to unveil the model of Gewan Island, which celebrates the diverse urban landscape and real estate mix along The Pearl-Qatar. The innovative and modern island responds to the requirements of the community and its cultural needs, providing a distinctive mix of properties including entertainment, retail and residential units. The island is surrounded by green spaces that reflect our commitment to providing a sustainable environment for residents. We are confident that the local market will attract domestic and international capital with high investment returns."
Qatar Rail also announced today at Cityscape Qatar, the signing of its first naming rights agreement with Qatar Insurance Group. The station naming rights is one of Qatar Rail’s strategies that is aimed at forming strategic alliances with renowned local and international corporations and brands to promote their services at the stations and reach wider market segments.
The agreement was signed by Sheikh Saoud Bin Khalid Bin Hamad Al Thani, Board Member of Qatar Insurance Group, who stated: “We are pleased to be with our partners at Qatar Rail today to announce Qatar Insurance Group’s acquisition of the naming rights of West Bay Station. Qatar Rail’s projects are among the biggest ongoing infrastructure projects in the country that support the local economy to achieve the Qatar National Vision 2030. We at Qatar Insurance Group look forward to working with our partners at Qatar Rail to boost our cooperation in the framework of corporate social responsibility and economic growth to achieve, together, economic sustainability and enhance the welfare of all Qatari citizens now and in the future, guided by the principles of the Qatar National Vision 2030.”
KATARA Hospitality is showcasing its Salwa Beach Resort in Doha this year at Cityscape Qatar. Slated for completion in 2019, the resort is being touted as the Middle East’s premiere destination beach resort and features a private beach, marina and yacht club, a themed water park, dive centre, and shopping mall.
While Barwa Real Estate is showing Cityscape Qatar visitors its Dara project, a commercial and residential complex with 1820 units, in Lusail.
Cityscape Qatar will run daily until Wednesday 25th April at the Doha Exhibition and Convention Centre (DECC). Exhibitors, including Qatar Rail, Ezdan, and ASTAD – Cityscape Qatar’s Strategic Project Management Partner – were out in full force, displaying the latest developments and upcoming projects slated for the country.
For homebuyers and investors, the four-day exhibition provides an opportunity to network, gain valuable market insight, seek advice on their next real estate purchase, and take advantage of exclusive deals, special offers and payment plans on the show floor.
Faariss Khalil, Exhibition Manager at Cityscape Qatar commented: “It’s an exciting time to be part of the real estate sector in the country. Over the last 7-years we’ve had the privilege of watching the real estate sector grow, and it’s been remarkable to see the development of this resilient industry.”
“The opening of today’s exhibition is testament to the plans, visions and commitment – of not just the government – but all real estate stakeholders. Over the next few days, our exhibitors will showcase a range of projects that will no doubt change the skyline of Qatar as the future of the country is epitomised on the show floor,” he said.
Running in parallel to the exhibition, the Cityscape Qatar Conference, hosted by DTZ Qatar took place today. Providing a platform for discussion on current market affairs in the real estate sector, and in support of Business to Business industry development, DTZ presented a Market Overview citing the key statistics and developments on the Qatari Real Estate Sector, Residential, Commercial, Retail and Hospitality sectors.
Mark Proudley, Director for DTZ highlighted the real estate sales activities in comparison of the previous 12 months quoting: “the number of real estate transactions recorded by the MoDPS in H2 2017 increased by 4.2% compared to the same period in 2016, with the value of transactions also increasing 4.5% to QR 15.7 billion. October 2017, recorded the greatest volume of sales by value QR 6.52 billion since July 2015.”
Looking at the residential sector, DTZ maintains that property with be driven by population increases. “It is anticipated that the majority of the population increase in the coming years will be generated by expatriates in the service industry, as construction projects complete. DTZ expects this to drive demand for affordable residential property,” according to the report.
Mark concluded by reinforcing the positive outcome in Qatar’s strategic direction in diversifying the expansion of the economy and in the completion of major infrastructure projects including roads, Hamad Port and the Economic Zones to further benefit the real estate and development sector.
Over the next few days, real estate trends, investment hotspots in the country and around the world, and REITs will be discussed by real estate experts at Cityscape Talks, held on the show floor and available to all visitors.
Cityscape Talks is a free-to-attend platform offering a wide choice of presentations, covering a range of themes and offers visitors the opportunity to network and make informed investment decisions.
Speakers include representatives from Qatar’s financial sector, including Mohsin Mujtaba, of Qatar Stock Exchange; and Khalid Hassan Al Mehshadi from the Qatari Ministry of Justice.
For more information visit: www.cityscapeqatar.com.
All images courtesy of Cityscape Qatar
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