Building the Pearl of the Gulf

Qatar commercial/office market
• Recent growth in the domestic economy should result in
increased demand for office space.
• Local and multinational firms are authorized to find space given
Doha’s importance as a business and financial center in the
region. This has created long term demand for office space.
• In H1 2015, Doha has a vacancy rate of 18%.
Q atar offic e dis trib ution ( as of M arc h 2 0 1 5 )
12%
A v erage offic e rental rates
300
250
200
150
100
50
0
West Bay C-Ring D-Ring Al Sadd Salwa Road Airport Old Salata
Source: AREDC Research
Prices are in QAR/Sq.M/Month
Ground Floor
Upper Floors
8%
35%
8%
5%
10%
20%
West Bay C/D Ring Road Old Salata Al Sadd
Salwa Road Airport Road Other
Source: : AREDC Research
Key highlights : government initiatives, vision and strategies positively affecting Qatar’s commercial office market
1 . C om m erc ial real es tate dev elop m ent as p art of V is ion 2 0 3 0
• Qatar is preparing for the World Cup through the ongoing infrastructure developments. Its Vision 2030 project is forecasted to
bring in commendable growth in the real estate front, particularly in key areas such as Doha.
• Major engineering and financial service players, having a foothold in the country, have benefited the office sub-sector.
2 . S us tainab le b uilding
• Commercial building owners should be aware of sustainability aspects and prioritize energy conservation practices.
• All government buildings have to abide by the green building standards to be established by The Qatar Sustainability Assessment
System for Green Buildings by 2016; subsequently, all new commercial buildings and residential buildings will come under
the new regime.
3 . A m endm ents in the lab or law
• In compliance with Qatar National Vision 2030, both the interior and labour ministries have confirmed that Qatar has begun
a series of wide ranging reforms in the job market to guarantee the workers’ rights and improve their standard of living and
working conditions in the country.
1 0 | Building the Pearl of the Gulf