2014 FIFA (Fédération Internationale de Football Association) World Cup isn’t over yet, and fans are already talking about the 2018 games to be held in Russia, and the 2022 FIFA World Cup, which was awarded to Qatar back in 2010. At the time, Chairman of the Qatar bid, Sheikh Mohammed bin Hamad Al-Thani said, "We will not let you down. We will make you proud." It seems that Qatar is aiming to keep its promise.
With more than USD 200 billion worth of projects due to be awarded in the years leading to 2030, Qatar will be burgeoned further by international and government investment, said Monsi Rabah, Country Manager of propertyfinder’s Qatar operation.
“Since the successful World Cup bid and the introduction of new foreign ownership laws, there has been a sharp spike in property prices. Foreign investors are buying, construction is accelerating with massive infrastructure projects including a new metro and light rail system underway, the landscape is changing and with more than USD 10 billion dollar growth projected over the next decade, we are gearing up for the next big boom,” said Rabah.
With real estate heavyweights pumping in billions towards residential and commercial developments, the country’s risk profile also offers interesting opportunities for international investors.
According to PropertyFinder.qa’s real estate reports for the Q4 of 2013, Qatar has been experiencing a boom in its economy, especially in the real estate sector, with a 5% overall rise in values of residential real estate between December 2013 and January 2014 alone.
Qatar’s most commonly sought after type of property in 2013, to buy and/or rent was the apartment, with a 78.01 per cent rating in buying. Surprisingly villas were in second place at a low 12.74%.
By positioning itself as a regional sporting hub, the Persian Gulf country is expanding its footprint on the global map.