Business Monitor International


Qatar Real Estate Report

Published 18 July 2014

  • 60 pages
 
$1,295.00
Qatar Real Estate Report

BMI View:   The Qatar real estate sector will remain among the clear outperformers in the Middle East over the coming decade as a combination of economic and demographic factors drive demand for commercial space. While rental rates are likely to lag behind the rest of the economy in the short-term, we see both rents and yields rising incrementally over the longer-term.

With a focus on the principal cities of Doha, Al Khor and Al Wakra, the Qatar Real Estate report examines the commercial office, retail, industrial and construction segments throughout the country.

While the UAE has arguably been the centre of construction growth and real estate development in the Middle East over the past few years, Qatar is rapidly catching up. Despite having a population of just over 2mn, the country is starting to challenge its neighbour as one of the leading financial centres in the region, as the economy diversifies and the government looks to reduce its reliance on the hydrocarbons sector.

The office sub-sector of the real estate market has enjoyed rapid the major engineering, services, banking and real estate Gulf and Middle East players are establishing themselves in the country. However, it must be said that the majority of multinationals continue to be based in the capital, Doha, with many investors viewing it as another Dubai-like city in the future, a status that will only increase demand for space in the city.

The most dynamic growth is arguably being seen in the retail segment, which has reaped the benefits of high per capita income levels (currently the third highest in the world) combined with increased levels of household expenditure and a rapidly growing expat community and tourism industry. Again, Doha is Qatar's main retail centre, though it is closely followed by Al Khor and Al Wakra.

The industrial sector in Qatar is based on the oil and gas sector and is thus not very dynamic. It will remain strong and consistent but the prospect for significant change in...

Table of Contents

BMI Industry View
7
SWOT
9
Political SWOT
11
Economic SWOT
12
Business Environment SWOT
13
Industry Forecast
14
Office
14
Table: Office Forecast Rents - USD/sq m/month
15
Table: Office Short-Term Net Yield Forecast (%)
15
Table: Office Medium-Term Net Yield Forecast, 2011-2018 (%)
16
Retail
16
Table: Retail Forecast Rents - USD/sq m/month
16
Table: Retail Short-Term Net Yield Forecast (%)
17
Table: Retail Medium-Term Net Yield Forecast, 2011-2018 (%)
17
Industrial
17
Table: Industrial Forecast Rents - USD/sq m/month
18
Table: Industrial Short-Term Net Yield Forecast
18
Table: Industrial Medium-Term Net Yield Forecast, 2011-2018 (%)
18
Construction And Infrastructure Forecast Scenario
19
Table: Construction And Infrastructure Industry Data (Qatar 2012-2017)
19
Table: Construction And Infrastructure Industry Data (Qatar 2018-2023)
20
Macroeconomic Forecasts
25
Economic Analysis
25
Industry Risk Reward Ratings
35
Middle East And Africa Risk/Reward Ratings
35
Table: Middle East And Africa Real Estate Risk/Reward Ratings
35
Qatar Risk/Reward Ratings
36
Rewards
36
Risks
37
Market Overview
38
Tourism: New Opportunities-
38
Doha
39
Al Khor
40
Al Wakra
40
Office
41
Table: Terms Of Rental Contract/Leases - H213
41
Table: Historic Rents - 2012-2014 (USD/sq m/month)
42
Table: Net Yield, 2012-2013(%)
43
Retail
43
Table: Terms Of Rental Contract/Leases - H213
44
Table: Historic Rents - 2012-2013 (QAR/ sq m/month)
44
Table: Net Yield - 2012-2014 (%)
45
Industrial
45
Table: Terms Of Rental Contract/Leases - H213
45
Table: Historic Rents - 2012-2014 (USD/sq m/month)
46
Table: Net Yield, 2012-2014 (%)
46
Competitive Landscape
47
Company Profile
49
Qatari Diar Real Estate Investment
49
Ezdan Real Estate
51
United Development Company
53
Demographic Forecast
55
Table: Qatar's Population By Age Group, 1990-2020 ('000)
56
Table: Qatar's Population By Age Group, 1990-2020 (% of total)
57
Table: Qatar's Key Population Ratios, 1990-2020
58
Table: Qatar's Rural And Urban Population, 1990-2020
58
Methodology
59
Industry Forecast Methodology
59
Sources
60
Risk/Reward Ratings Methodology
60
Table: Real Estate Risk/Reward Ratings Indicators
62
Table: Weighting Of Indicators
63

The Qatar Real Estate Report features Business Monitor International (BMI)'s market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.

BMI's Qatar Real Estate Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Qatar.

Key Benefits

  • Benchmark BMI's independent real estate industry forecasts for Qatar to test other views - a key input for successful budgeting and strategic business planning in the Qatari real estate market.
  • Target business opportunities and risks in Qatar through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

Executive Summary

Summary of BMI's key industry forecasts, views and trend analysis covering real estate and construction, regulatory changes, major investments and projects and significant national and multinational company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the real estate sector and within the broader political, financial, economic and business environment.

Market Overview

Overview of the real estate sector, including analysis of existing/planned real estate developments and emerging industry trends in the office, industrial and commercial sectors.

Market Analysis

Features detailed city-level data and analysis on rental prices, yields, contract terms and real estate availability with separate chapters covering the office, retail and industrial sub-sectors.

Industry Forecast Scenario

Historical data series (2010-2012) and forecasts to end-2017 for the domestic real estate industry and for the local and global finance industry. Indicators include:

Real Estate: Office, retail and industrial real estate yields for all major cities (%); short-term forecasts on minimum and maximum real estate rental prices by sub-sector (US$ per square metre, and local currency per square metre)

Construction: Industry value (US$bn); contribution to GDP (%); employment (`000); real growth (%)

Economy: Economic growth (%); nominal GDP (US$bn); unemployment (%); interest rates (%); exchange rate (against US$)

Business Environment Ratings

BMI's Real Estate Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (real estate vendors, construction companies and financial investors) in the regional real estate market.

The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses.

The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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