Qatar popularity soaring

Demand for property in Qatar should continue to grow over the next few years, despite the slowdown in most markets around the world, according to Dubai-based Damac Properties...

"All indicators in the Qatari market point that the economy is expected to perform at least as strongly as 2008 driven by energy production and related industries also in investments aimed at economic diversification," said Damac Properties Chairman Hussain Sajwani.

Despite the global economic turmoil, Sajwani confirmed that the Qatar Government will still press ahead with all its scheduled projects, including the £3.7 billion New Doha International Airport, the £3.4 billion Lusail property scheme, the £3.4 billion Al Khor tourism project and £1.2 billion Energy City.

He said that the key factors for the market stability was Qatar's strong economic performance in recent years.

"Today Qatar's real estate sector is showing signs of correction, this doesn't mean the market is falling apart or the demand will stop. Although investors were showing a "cautious" approach to property investment in the region, by looking at the given facts and figures, the medium term outlook for Qatar is still in good shape," he concluded.

Source: www.homesoverseas.co.uk/news