The pavilion of Engel & Voelkers at the 3rd Qatar International Real Estate and
"The demand for local and international properties is very high. People that are visiting us at our booth are genuinely interested in the properties being showcased at the exhibition, said Christof Birkhofer, Managina Director of Engel &Voelkers Doha Office.
The German-based real estate company Engel & Voelkers which specializes in high end properties around the world launched its operations in Qatar on Monday at the opening of the 3rd Qatar International Real Estate and Investment Exhibition (Q-Rex) at the Doha Exhibition Centre.
There is high demand for properties in the Doha real estate market, including rental space in residential and commercial estates, but Qatari buyers are also looking for properties overseas, Birkhofer told The Peninsula yesterday. Many nationals approaching the company at the exhibition are mainly inquiring about homeownership in London, Cyprus, Switzerland and Germany.
"The real estate market in Qatar as in the whole region is booming. Doha, Dubai, Abu Dhabi, Bahrain are all witnessing a real estate boom and the demand exceed the supply for properties,"
Some of the most exclusive properties out of the company's portfolio are showcased at the exhibition, featuring among others a $42m residence in Miami, traditional antic castles in Europe or a private island in Seychelles.
The high end properties that Engel & Volkers is handling in the local market can fetch from QR1m for an apartment at The Pearl Qatar to approximately QR30m or QR40m for top villas and penthouses.
"The Doha real estate market is a perfect location for our company," said Birkhofer. "We will provide clients not only access to international properties, but we will also provide a gateway to our large client network."
The company's first step in the market was the signing of a memorandum of understanding (MoU) on the first day of Q-Rex, between Trend Capital, a German investment fund company and Dorrat Adoha, a local development company for residential tower in Viva Bahriya at The Pearl Qatar. The deal was arranged by Engel & Voelkers.
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