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FinancialNews


  • 03-09-10

    Qatar property prices likely to recover in 2011

    (MENAFN) Property developers in Qatar are learning lessons from Dubai's sharp real estate and development crash by slowing and rethinking projects, a move which will help property prices recover next year. Qatar developer Barwa Real Estate said it has delayed its $8.3 billion Al Khor project due to sluggish market conditions, the latest sign that the world's largest exporter of liquefied natural gas is grappling with oversupply. The project, a mixed-use city north of Doha, was originally expected to be completed in 2015, but a company spokesman declined to give a new completion date. House prices in Qatar, down about 30 percent since the crisis, are seen falling further by 10-15 percent in 2010 before recovering next year as property companies better balance supply to the market, said Patrick Rahal, senior analyst at investment bank The First Investor in Doha.

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