The Finance World Magazine| Edition: October 2023

Real Estate News
Qatar Real Estate Records $278M in August
Property Sales
In August 2023, Qatar’s real estate
sector recorded a substantial QR
1,011,404,475 ($278M) in property
sales, based on data from the
Real Estate Registration Department
at the Ministry of Justice. A total of
297 real estate transactions were
registered during the month. Among
municipalities, Doha, Al Rayyan,
and Al Wakrah stood out with the
highest financial transaction values,
as indicated by the real estate market
index. These were followed by Umm
Slal, Al Dhaayen, Al Shamal, Al Khor,
Al Dhakira, and Al Sheehaniya. Doha
municipality’s transactions amounted to
QR 290,085,005, Al Rayyan reached QR
266,921,713, and Al Wakrah recorded QR
191,689,444, while Umm Salal reported
QR 114,170,148 in financial value.
Dubai Real Estate Sales Soar Despite Rising Prices
Middle East Investors
Find High Yields in London,
Says Barratt MENA
Middle East investors are
increasingly drawn to
London’s real estate market,
enticed by the promise
of high yields and projected capital
appreciation, reports Barratt MENA.
Stuart Leslie, International Sales and
Marketing Director, notes a significant
uptick in Middle East buyers seeking
homes in London, whether for work or
for their studying children. London’s
potential with a projected 19% capital
growth in the next five years and
expected rental yields of up to 5.9% is
appealing to these investors aiming to
diversify their portfolios. Barratt MENA,
the UK’s largest housebuilder’s Middle
East branch, will showcase projects
like the Hayes Village regeneration
at Cityscape Global in Saudi Arabia,
targeting Middle East investors keen
on London’s real estate opportunities.
Dubai’s real estate market
remains resilient, with soaring
sales transactions. Villa
prices surged by 51 percent,
while apartment prices saw a notable
21 percent increase since the beginning
of the year, according to Unique
Properties. The Dubai Land Department
reported over 3,200 transactions valued
at AED 24.7B. Savills’ recent research
reveals a 44 percent increase in real
58 www.thefinanceworld.com October 2023
estate transactions during the first half
of 2023, totalling nearly 60,000 units.
Dubai continues to pursue its growth
ambitions, aiming for a projected 15
percent growth in the coming year,
bucking the trend seen in other leading
markets. However, soaring prices
have also affected rentals, with some
witnessing over a 50 percent increase,
prompting many residents to consider
downsizing options.
New Real Estate Laws
Unveiled for Umm Al
Quwain, UAE
Sheikh Saud bin Rashid Al Mu’alla,
Supreme Council Member
and Ruler of Umm Al Quwain,
has introduced significant real
estate laws in the UAE, targeting sector-wide
advancements. These regulations
encompass diverse facets of real
estate, such as mortgage guidelines,
development pricing, safeguarding
investor rights, and simplifying property
registration processes. The objective
is to facilitate the formulation and execution
of strategies that drive growth
in the sector, aligning with the rapid
urban development initiatives in Umm
Al Quwain. These legislative measures
are instrumental in ensuring the continued
progress and competitiveness
of the UAE’s real estate industry on a
broader scale.