Market Report, "Qatar Real Estate Report Q2 2011", published

April 19, 2011 - PRLog -- Key Insights On The Real Estate Sector Of Qatar

Activity in Qatar's real estate sector is in the early throes of a recovery after the country was selected as the host for the 2022 FIFA World Cup. Qatar has committed to a massive real estate and infrastructure construction programme for the World Cup. It expects to double the total number of hotel rooms to almost 90,000 by 2022. Further, it will construct nine sports stadiums, refurbish three existing stadiums and develop a rail and metro network.

Demand in the property market has increased with the World Cup bid win. As a result, landlords that previously felt compelled to offer rent holidays have withdrawn their deals. Interest has jumped, especially in home purchasing, to levels not seen since the beginning of the economic downturn. Moreover, an upturn in demand should combine with difficult access to finance by developers to lower the relatively high vacancy rates.

However, property prices are unlikely to stage a more pronounced recovery in the near term, as new supply will add to the existing glut. Oversupply is providing the main thrust in the downward pressure that has been applied to the country's commercial markets since 2008. Qatar was overbuilt in 2008 and as a result there is a large surplus of residential and commercial property on the market. Real estate developers holding debt have also seen deterioration in their ability to repay loans on the back of declining rents.

We continue to favour Qatar's economy from a medium-term perspective, and forecast it to remain among the fastest growing in the world in the coming years. The economy's expansion will be fuelled by liquefied natural gas (LNG) exports as well as the large-scale investments in construction. We forecast economic growth to continue at an impressive pace over the coming years, and pencil in real GDP growth to come in at 17.2% year-on-year in 2011 (up from an estimated 15.9% in 2010), and easing through the remainder of our forecast period to average 6.7% between 2012 and 2015.

The wave of popular protests that has swept across the Middle East and North Africa (MENA) since January 2011 - resulting in the overthrow of Tunisian President Zine El Abidine Ben Ali and Egyptian President Hosni Mubarak, and the descent of Libya into virtual civil war - constitute the biggest shake-up to the region for at least a generation, and its impact will be felt for many years to come. So far, Qatar has only seen minimal protests - in support of those in Egypt - and to date there has not been any government response. However, if public unrest continues to grow in Iran, then an uptick in tensions between Iran and neighbouring countries could lead to deterioration in the regional risk profile.

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Report Table of Contents:

SWOT Analysis
- Qatar Real Estate/Construction SWOT
- Qatar Economic SWOT
- Qatar Business Environment SWOT
Real Estate Market Overview
- Table: Qatar's Real Estate Market - Historic Rents, 2009 And 2010 (m2/month, US$)
- Table: Qatar's Real Estate Market - Net Yields, 2010 And 2011 (%)
- Table: Qatar's Real Estate Market - Terms Of Rental Contract/Lease, Mid-2010
- Table: Qatar's Real Estate Market - Available (m2) And Vacant Space, Mid-2010 (%, unless stated)
Industry Forecast Scenario
- Real Estate Outlook
- Table: Qatar's Real Estate Market - Rentals, 2010-2012 (m2/month, US$)
- Table: Qatar's Real Estate Market - Forecast Net Yield, 2008-2015 (%)
- Qatar's Construction Industry Outlook
- Table: Qatar Construction And Infrastructure Industry Data, 2007-2015
- Table: Qatar Construction And Infrastructure Industry Data, 2012-2020
- Construction And Infrastructure Forecast Scenario
- Macroeconomic Outlook
- Qatar - Economic Activity
Business Environment
- Real Estate/Construction Business Environment Rating
- Table: Middle East And Africa Real Estate/Construction Business Environment Ratings
- Qatar's RECBER
- Project Finance Ratings: Outlook For Middle East
- Table: Design And Construction Rating
- Table: Commissioning And Operating Rating
- Table: Overall Project Finance Rating
- Qatar's Business Environment
- Table: BMI Business And Operation Risk Ratings
- Table: BMI Legal Framework Rating
- Table: Labour Force Quality
- Table: Foreign Direct Investment Inflows Into The Middle East And Africa, 2006-2008
- Table: Trade And Investment Ratings
- Table: Qatar's Top Export Destinations, 2000-2008 (US$mn)
Company Monitor
- Barwa Real Estate
- Qatari Diar Real Estate Investment
- Qatar Real Estate Investment Company
- Thani Bin Abdullah Housing Group
- United Development Company
BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
- Table: Weighting Of Indicators
- Project Finance Ratings Indicators
- Table: Design And Construction Phase
- Table: Commissioning And Operating Phase - Commercial Construction
- Table: Commissioning And Operating Phase - Energy And Utilities
- Table: Commissioning And Operating Phase - Transport
- Sources

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.