Cityscape Qatar 2018: A Promising Future

For someone who worked in real estate for a long time, seeing this familiar exhibition is like having the same craving upon seeing burger stands or coffee kiosks during the recent food festivals. It was a feast for the eyes, and seeing those scale models is reassuring too – knowing that it gives us a glimpse of what to expect in the future… state-of-the-art building structures, master-planned communities, and new city developments.

Unfazed by the ongoing blockade which has affected economies and even mobility of people in this region, we have seen a lot of big projects still being carried out and expected to be completed starting the last quarter of 2018 until probably the culmination of 2022 World Cup events.

The 7th Edition of Cityscape Qatar in 2018 was a symbol of resilience… a strong economy… and a bright future for the next generation.

KEY PLAYERS

Some of the major exhibitors showcased their landmark projects which will change the landscape of Doha in the coming years.

Al Azmakh Real Estate

Barwa Real Estate Company

Ezdan Real Estate Company

Just Real Estate

Katara Hospitality

Msheireb Properties

Qatar Rail (DohaMetro)

Qatari Diar

United Developers

United Development Company (The Pearl Qatar)

Many other overseas developers from Turkey, Pakistan and Cyprus are also present and are eager to tap the local Qatari market for investments in their country. Even the Philippine Economic Zone Authority (PEZA) was also invited to talk about business opportunities in the Philippines.

FREQUENTLY ASKED QUESTIONS

In the future City Scape exhibitions, I encourage everyone who has interest in real estate, property investments, architectural designs, and those who wants to see the prospects of the Qatari economy in a macroeconomic level… teachers, writers, economists, sales professionals, engineers, etc. However, this event may not be ideal for kids and visitors are expected to dress-up accordingly.

In the website of Cityscape Qatar, they outlined several key points:

Why Visit?

Buy your dream home
Access exclusive deals and special offers on local and global property
Identify the latest real estate development opportunities
Find out what is still offering the best returns for your investment
Interact with experts and make informed decisions about property acquisition
Source world class architectural, consultancy and engineering services

Who should visit ?

Homebuyers
Investors
Banks, Financial Institutions, Investment Companies, Fund Management Companies, Private Investors, Pension Funds, REITs, Venture Capitalists, Insurance Companies, Hedge Funds, Private Equity Investors, Asset Management Companies, Sovereign Wealth Funds
Developers
Residential, Office, Commercial, Hotel & Leisure, Retail, Industrial, Infrastructure
Cities & Regional Authorities
Investment Promotion Agencies, Economic Development Authorities, City Promotion Agencies and Authorities, Location marketing agencies, Regional Development and Investment Zones, Inward Investment Organizations
Service Providers
Architects, Designers, Urban Planners, Real Estate Owners, Consultants, Engineering Consultants, Contractors, Project Management Companies, Construction Companies, Property Advisors, Real Estate Solution Providers, Real Estate Development Consultants, Corporate End Users, Retailers

GUIDES TO PROPERTY INVESTMENT

Most importantly, I also want to highlight some of the information that I have gathered during the exhibition. This might be useful to anyone who is interested in buying/renting a property in Qatar or investing in other countries.

Renting a Residential/Commercial Property in Qatar

As one of the main requirements for expats in Qatar, leasing a property is the most convenient and less expensive way to have a place to stay. While real estate companies usually require a deposit, it is still not as much compared to buying properties.

Although as of late, rental cost in Qatar is still high considering the current economic situation. Some of it costs about 50% of the average salary. And it is even more expensive when you compare it to the cost back home. Hopefully the price will normalize due to the upcoming supply when all those future housing developments are completed. the requirements are as follows:

Choice of furnished or unfurnished
One Month Advance plus one month deposit in some cases
1 year contract
Transfer of Kahramaa (Water and Electricity) meter under the tenant’s name (QR2000)

Buying a Residential Property in Qatar

The rules aren’t really complicated (at least on how the agents presented it to me). You just need to approach any Authorized Property Consultants who will guide you through all the procedures and documentations.

For expats, The Pearl Qatar area is ideal for those who want to buy a property. Unlike in the Philippines where buyers undergo a required pre-qualification procedure, here, you just need to be aware of the payment dues as follows:

Initial Down Payment (cash, usually 15-20% of the total property value)
Quarterly Payments until the property is finished (average of 20% of the total value and often times with balloon cash payment)
Balance upon turnover of the property (in cash or may be arranged with the local banks)
It is usually FULL CASH BASIS ONLY for READY FOR OCCUPANCY properties.

Buying a Residential Property in the Philippines

Expats are allowed to fully own a condominium property in the Philippines. There are also designated zones allotted for commercial use of non-Filipino investors (under the Philippine Economic Zone Authority).

In the case of residential condominiums, the present range is approximately QR125,000 for a 25 sqm studio unit located within the city proper. Due to high demand and limited availability of ideal locations, prices can be expected to go higher depending on buyer’s requirements and property specifications.

The procedures for acquisition are as follows:

A non-refundable reservation fee
A monthly down payment until the property is completed (usually 20-30% of the total value)
Balance upon turnover of the property (in cash or may be arranged with the developers or banks in the Philippines)

These properties may eventually be rented out while the owner is not in Manila, thus earning passive income enough to cover the cost of monthly amortization.

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