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Mazaya Monthly Real Estate Report -
Week 2 - JULY 2015
World Competition:
Al Mazaya Report states GCC RS
markets have maintained their intrinsic
competitiveness during the first term of
this year, not to mention the modernity,
quality and innovative architecture -
mainly towers, encompassing large
numbers of apartments and offices. GCC
RS plans and projects rapidly accelerate
towards world competition in terms of the
residential, commercial and investment
RS modules offered. At this level of
progress, it is fair to state that some
markets within the region have reliably
booked their distinguished status resting
on the varied RS products offered to meet
multiple demands in a contemporary
fashion
tailored
towards
various
demands. The report adds that on this
level of viability, demand for residential
RSs has risen, stirred by major stimulants
- mostly population growth, foreign labour
and the prosperity of the citizens in this
region, enabling them to purchase many
residential RS units of different areas
and qualities. Al Mazaya Report believes
it is very likely GCCs are able to support
RS commercial, investment markets
and attract additional foreign capitals.
Momentums:
The Report points to the trading
performed since beginning of this year
as compared to the same of the lapsed
year as being one of the indicators for
RS market activity, liquidity and ability
to encash at the highest prices. Trading
figures revealed reflect continued
growth in many countries of the region
mostly taking place on residential and
investment units, which mirrors the
fact that market activities are more
mature, transparent and closer to the
reality of the demand and supply rather
than possibly creating price bubbles.
In the same lines, the Qatari RS sector
experienced around 43% growth on RS
transactions during the first 5 months
compared to same period last year with
total value amounting to QR 31 billion;
reflecting the ascending trend of the RS
transactions taking place in the recent
years. The GCC market in general
showed similar positive performance
in April of this year. The Saudi market
for example, showed positive trends
stimulated by overall expanding
construction activities and launch of
new projects. The Bahraini RS sector
also reflected viable performance
in the same period concluding RS
transactions amounting to more than
BD 359 billion, recoding a 4% increase.
RS transactions also grew by 5% in
Dubai during Q1 amounting to AED 64
billion. RS at the Sultanate of Oman
remained attractive to GCC investors
as the Ministry of Housing drafts proper
regulations
stimulating
landlords
to better utilise their properties.