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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      • CES 2017
      • Election Results
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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

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        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Economic growth driving demand in Qatar's real estate market

              Press release

              May 3, 2012
              in Infrastructure, Real Estate
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              DTZ, one of the top global real estate services firms, released its latest update on Qatar’s real estate market.

              The report predicts a positive outlook as a result of demand for all types of real estate. Mark Proudley, author of the report and Associate Director at DTZ, commented;

              “Demand can be attributed to Qatar’s strong economic performance – driven by high energy prices and the Government’s investment plans as part of the Qatar National Development Strategy 2011 – 2016 and in preparation for FIFA 2022 World Cup which is expected to reach US$ 64 billion between now and the event.”

              Other key highlights of the report include:

              The office market

              The levels of oversupply in Doha’s office market that were being witnessed in 2011 are eroding due to increased demand. This demand is primarily being driven by large Government and financial bodies but also from the construction and engineering sector – which could be attributed to 2022 World Cup related activity.

              According to DTZ’s report, total current office stock in Doha is estimated at 3.7 million sq m, 1.43 million sq m of which is situated in the Diplomatic District. There is approximately 248,000 sq m of space currently being marketed as available to lease in the Diplomatic District and this level of supply will continue to grow over the next 24 months, albeit at a reduced rate in comparison to the previous two years.

              Increased demand for prime office space has stabilised rents across all main commercial districts throughout the first quarter of the year. Large space users seeking in excess of 5,000 sq m, can secure rates as low as QR 145 per sq m per month. For those looking for space less than 500 sq m, rental rates of QAR 275 per sq m per month have been achieved. DTZ forecasts that rental rates will remain relatively stable over 2012 with the possibility of increases towards the end of the year.

              The residential market

              The increase in population, due to recruitment of personnel from outside of Qatar by new and expanding businesses, continues to drive demand for residential accommodation.

              The supply pipeline is being dominated by luxury apartments. Total stock of luxury apartments was 8,500 at the end of 2010, increasing to 9,750 at the end of 2011 and DTZ forecasts this figure will reach 16,250 by the end of 2012. This equates to a 66% increase in the total stock of luxury apartments. This supply of apartments is focused around the Diplomatic District and on The Pearl where occupation rates are, on average, 95%. The impact of high occupancy rates has seen a gradual uplift in the average monthly rental rates. In particular, for one bedroom apartments where demand is strong and supply is limited.

              Average rental rates achieved on The Pearl at the end of Q1 2012 for a three bedroom apartment were QAR 17,000, QAR 13,500 for a two bedroom apartment and QAR 11,000 for a one bedroom apartment.

              Residential sales at The Pearl continue to dominate the freehold market as it is now an established and successful residential location.

              During the second half of 2011, DTZ’s report notes evidence of improved sales activity and greater optimism from potential purchasers/investors. This trend continued into the first quarter of 2012. A key factor in this trend was the 60% salary increase awarded to Qatari employees in the public sector which has increased the number of prospective investors with access to funds. Average sales rates are currently in the region of QAR 11,000 – 13,000 per sq m on The Pearl.

              The retail market

              Qatar’s retail market remains stable with limited activity over the first quarter of 2012. The latest figures available estimate that the retail trade in Qatar accounted for QAR 32.2 billion over 2010, up by 8.3% on 2009.

              The retail accommodation offer in Qatar is divided between organised retail malls, high street showroom space and souq retail. Total organised retail mall stock in Doha increased from 430,000 sq m at the end of 2010 to approximately 509,000 sq m of GLA, distributed across 10 main shopping malls, at the end of 2011. Total stock of retail mall accommodation is expected to reach 684,000 sq m by the end of 2012 with new malls scheduled to open including Ezdan, Markhiya and Gulf Mall.

              Qatar currently provides 300 sq m of organised retail accommodation per 1,000 people – in comparison to most European countries which provide an average of 200 sq m per 1,000 people. Dubai has the highest ratio at 1,400 sq m per 1,000 people.

              The majority of retail mall space is fully occupied with waiting lists at the major malls. Landmark and Villaggio shopping malls command the highest rental rates due to their location and popularity. Rentals range from QAR 225 to QAR 250 per sq m per month for standard line units.

              The hotel market

              The hotel industry has witnessed significant capital investment and growth in recent years as tourism development plans are implemented to diversify and expand the local economy. Qatar Tourism Authority (QTA) is planning to invest US$ 20 billion on tourism infrastructure in advance of the 2022 FIFA World Cup.

              DTZ recorded five new hotels opening over Q1 2012. High profile openings included the St Regis and Intercontinental Doha City Hotel.

              The number of hotels in Doha increased from 79 at the end of 2011, up to 84 by the end of March 2012. According to QTA, a further 77 hotels are planned or under construction and will add a further 17,000 rooms to the current stock.

              Over the first quarter of 2012, occupancy rates were recorded at 63% in comparison to 77% over the same period in 2011. Average Room Rates (ARR) fell 7.6% from US$ 281 to 261 and Room Yields reduced by 24% from US$ 217 to 165. These reductions are partially explained by the increases in hotel supply but it is also worth noting that the AFC Asian Cup was hosted in Doha in January 2011, which impacted on demand over the first quarter of 2011.

              Press release

              3 May

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