At the Qatar Property Investment Forum held in Qatar on Monday and Tuesday. Chadi Abou Daher, Regional Manager of the World Trade Center, welcomed the delegates. Daher highlighted the fact that Qatar has emerged as one of the most attractive real estate markets and hoped that the forum would be a yearly platform offering insights into the latest trends emerging in the Gulf region and Qatar in particular.
Said Bahjat Said, President of ‘The Land Holding’, said that the Forum has come at a time when the property Market is enjoying immense growth and the prospects looked reassuring. He stressed the importance of embracing the best international practices and standards.
Elaborating on the sustainability of the real estate market, Molad Elia, Manager Real Estate, Kuwait Financial Center, mentioned that demand for real estate has been soaring. This in turn will sustain the growth at least till 2010 before which the existing demand will not be even met. The demand for housing has risen by 27 per cent in the last year and in the office market the vacancy level is only one per cent. In the hospitality sector, the demand is still high showing around 70 per cent occupancy. All in all the sustainability of the growth is high and it should remain so for the next five years.
Chris Filinos, Vice-President, Head of Real Estate MENA, Merrill Lynch International, stressed the need for property indices to help investors decide where to invest. He also talked about providing international standards to the Real estates Investment Trusts.
The panel session was followed by a presentation on the Tarfeeh Entertainment City, a water front development, designed to be a place where families, visitors, residents and tourists meet to experience a blend of the old and the new.
The Qatar Property Investment Forum was hosted by the World Trade Center Qatar, a member of the World Trade Centers Association based in new York. The mission of the World Trade Centers Association is to support the establishment and successful operation of individual World Trade Centers as part of a worldwide alliance of World Trade Centers, which enhances stability, peace, world trade and development, leading to economic growth. WTCs provide up-to-date information about their respective regions, including local products and services, market conditions, government regulations and business culture. WTCs furnish detailed profiles of local business contacts, including manufacturers, distributors and services providers. They also perform market research tailored to specific needs.