The report of Al-Asmakh Real Estate Projects Company said: The concerned authorities are currently implementing a number of projects to serve thousands of housing plots in different regions. To meet the needs of population and urban expansion in various parts of the country.
The report indicated that the main works have been completed to serve approximately 2,300 land plots for citizens in the northern regions and north of Nasiriyah, which fall within the roads and infrastructure projects implemented by Ashghal in all regions of the country.
The report added: The projects in the northern regions in which the works have been completed include a number of packages in the Al Ebb and Leabaib project that serve about 700 plots, in addition to two packages from the Al Kharaitiyat and Izghawa projects that serve about 600 plots, while in the North Nasiriyah project, completion has been completed The main business of the second package to serve about a thousand vouchers.
The report stressed that these projects will significantly contribute to the recovery of the real estate sector, and will positively affect the increase in real estate investment and the construction movement in those areas, and these projects will also contribute to increasing the demand for land in that region.
The report said: The state has established many projects within its plan for infrastructure projects, and added: These projects include 32 projects to serve citizens’ lands and new and existing residential areas, and 23 projects to develop internal roads. Indicating that the rate of government spending is one of the most important factors leading to the growth of the real estate sector.
In terms of highway projects, the report indicated that these projects contributed to linking many economic and commercial facilities, health and educational facilities, in addition to linking areas to each other, and these projects also contributed to the reconstruction of areas adjacent to these roads and the creation of new residential areas.
The report indicated that the current year 2023 will witness the completion of a number of new projects in the field of infrastructure development, which will contribute to supporting the real estate sector in those areas and will affect the movement of demand. These projects will also contribute to strengthening the work of contracting companies.
Land prices and transaction values
The report of Al-Asmakh Real Estate Projects Company said that the values of real estate transactions witnessed a high performance compared to the previous week, according to the data of the latest bulletin issued by the Real Estate Registration Department at the Ministry of Justice for the week extending from “April 2 to 6 this year”, as the number of real estate transactions recorded “48” deals. The report pointed out that the value of real estate transactions amounted to about 542.8 million riyals.
The report indicated that the municipalities of Al-Rayyan and Doha maintained great activities in transactions in terms of the number of executed transactions and ranked first and second, respectively. The report indicated that the average number of transactions executed per day amounted to nearly 10 deals.
In terms of prices per square foot of land, on which deals were executed during the second week of April, the real estate index of the Al-Asmakh company indicated that it witnessed a discrepancy in prices, explaining that the average offer prices per square foot in Mansoura and Bin Dirham amounted to 1,380 riyals. In the Al-Najma area, “1,320” riyals per square foot, and the average price per square foot in Al-Mamoura area stabilized at “385” riyals, and the average price per square foot in the old airport area stabilized at “870” riyals for buildings.
The Al-Asmakh real estate index also indicated that the price per square foot was recorded in the Aziziyah area of 365 riyals, and in the Umm Ghuwailina area, the price of 1,350 riyals per square foot was recorded.
The report said: The average price of a square foot was recorded in the Al-Thumama area at a price of “400” riyals per square foot, and the average price of a commercial square foot in Al-Wakra region stabilized at “1,450” riyals, and the average price of a square foot was recorded for both (Al-Wakra / buildings) and ( Al-Wakra / villas), “590” riyals, and “275” riyals, respectively.
The report of Al-Asmakh Real Estate Projects Company said: The average price per square foot in Al-Wukair area recorded a price of 210 riyals. The real estate index of Al-Asmakh Company also indicated that the average price per square foot rose in the northern Muaither area to record “300” riyals, and recorded in the Al-Rayyan area “310” riyals.
Al-Asmakh’s report indicated that the average price of a square foot in Al-Gharrafa region recorded a price of “375” riyals, and the average price of a square-foot width in Al-Kharaitiyat area recorded “380” riyals, and in Al-Laqta area a price of “300” riyals per square foot.
The report added: The average price of a square foot in the Al-Khor area settled at “210” riyals per square foot, and it was recorded in the Al-Kheesah area of “295” riyals, and it was recorded in the Umm Salal Muhammad area of “290” riyals, and in the Umm Salal region at “260” riyals per square foot. square.
Prices of apartments and villas
Returning to the prices of villas and apartments, the report of Al-Asmakh Real Estate Projects Company indicated that the average prices of residential apartments in Lusail for a one-bedroom apartment are 1.1 million riyals, 1.3 million riyals for a two-bedroom apartment, and 1.9 million riyals. For a three-bedroom apartment, the report indicated that prices vary according to the area, area, and location of the apartment in the residential building.
The report also indicated that the average price per square meter in apartments located in the West Bay in the Al Muajaji Towers is estimated at “11” thousand riyals, and there are certain data that may raise the price slightly related to “the location of the apartment and the view inside the two towers.”
As for the selling prices of new apartments in the Pearl project, it ranges from 12,000 QR to 22,000 QR per square meter, according to the real estate developer.
In terms of villa prices, Al-Asmakh’s report shows that villa prices vary from one region to another. The report said: The average prices of villas in Doha, Al-Thumama, Rawdat Al-Matar and Ain Khaled are estimated at approximately 3.6 million riyals for an area of average size between “400 to 500”. square meters per villa. Pointing out that this price also applies to villas in the areas of Al-Gharrafa, Al-Laqta, Al-Rayyan, Umm Salal and Azghawa for the same previous area.
The report added: The prices of villas decrease as we head north, as the price of a villa in Al Khor and Al Thakhira and its surroundings, for the same area, is approximately 2.2 million riyals.
