Qatar's real sector holds out promising opportunities in view of the sovereign support to the sector, according to Mazaya Holding.

"The real estate market is coming back to the safe side thanks to the government efforts and bailouts that helped give added support to the sector, which is now approaching a new era depending on transparency, elasticity, and the reputation of the real estate companies in the market," said Rashid al-Nafisi, chairman of Al Mazaya Holding.

The Kuwait-based Al Mazaya Holding based its analysis of the coming period and expectations of the real estate market on several factors, including the country’s proposed major and comprehensive infrastructure development throughout the country.

Highlighting that Qatar has a 10-year strategy that has directly contributed to offering various attractive opportunities to the real estate sector, he said these opportunities can help the sector play its vital role in development and increase the pace of GDP (gross domestic product).

“It is one of the best times to seize opportunities in the real estate market in the region,” he said, adding many real estate developers are responding positively to these changes.

“The race today is to find a foothold in the market in a pace that will attract other developers to follow suit in pursuit of deals based on their capabilities of meeting the needs of the sector,” according to him.

“World Cup 2022 in Doha drives real estate demand and will have real effect on the regional level. Qatar has broken ground for hosting major world events in the GCC countries, which will have attractive opportunities in tourism sector and help develop real estate, sporting and tourism infrastructure,” he said.

Mazaya Qatar’s portfolio includes the construction of 350 residential units for Qatar National Convention Centre’s employees under a 10-year agreement with the Qatar Foundation, the development and management of 1,165 residential housing units worth QR627mn for the nursing and technical staff of Sidra Medical and Research Centre’s Residential Project under a 20-year Build, Operate, and Transfer (BOT) agreement and the 30-year agreement to develop and manage the Marina Mall shopping centre in Lusail, Doha on a BOT.

Mazaya Qatar has a number of future projects and is seeking alliances and investments with Qatari and regional parties in various sectors. Evaluations and feasibility studies have been conducted on these projects to better serve the interests of investors, according to al-Nafisi.