154 real estate deals generate QR1.4 bn in first half of Ramadan

As many as 154 property deals worth QR1.4 billion were made in the first half of April — also the first half Ramadan — at an average of QR9.1 million per deal, Utopia Properties said in its latest report.
The deals — struck between April 3 and April 14 — included 73 vacant plots worth QR474.1 million and 64 houses worth QR203.7 million.
According to the “Utopia Index”, the first half of April 2022 witnessed the execution of seven deals of residential buildings with a total value of QR46.5 million, three residential complexes worth QR561.5 million, three multi-purpose vacant plots worth QR60.15 million and three commercial buildings with a value of QR38.9 million. A palace worth QR20 million was also sold.
Notable deals
The Al Egla zone recorded three deals worth QR700 million on April 5 — a 140,000-sqm-residential complex worth QR536 million at QR356 per foot, and two vacant plots worth QR84 million and QR80 million, at an average price of QR300 per foot.
Al Egla’s transactions accounted for nearly 50 percent of the value of the total transactions that were executed in the first half of this month, as this zone is located in the administrative borders of Doha Municipality and adjacent to Lusail City where the Doha Golf Club is located.
Houses
As many as 64 houses were sold in the first half of April for QR203.7 million at per-deal average of QR3.18 million and per-foot average of QR449.
The highest average price was recorded in Doha Municipality, which witnessed the execution of 14 deals worth QR69.7 million with an average of QR521 per foot. It is followed by Al Dayyen Municipality which witnessed six deals worth QR15.5 million and an average of QR487 per foot.
Al Rayyan Municipality witnessed the execution of 19 deals worth QR52.4 million and an average of QR443 per foot. Al Wakrah Municipality witnessed the execution of nine deals worth QR23.9 million with a price of QR423 per foot. While the lowest price per square foot among houses deals was in Al Shamal that came through two deals worth QR3.7 million and a price of QR289 per foot.
Vacant lands
In terms of vacant land deals, their total value amounted to QR474.1 million through the execution of 73 deals, with an average of QR6.5 million per deal, and an average price of QR369 riyals per foot.
Doha Municipality topped the list in terms of the number of deals by executing 21 deals worth QR247.4 million with an average of QR494 per foot, followed by Al Rayyan Municipality by executing 16 deals for vacant lands with an average of QR463 per foot and a total value of QR102.8 million.
Al Dayyen Municipality, through the execution of 17 deals worth QR69.7 million, came in third, with a value of QR302 per foot, while Umm Slal Municipality recorded three deals with an average of QR220 per foot.