Impact of 2022 World Cup on Real Estate Sector in Qatar
The football fiesta has everything to offer as far as real estate is concerned. The trajectory of real estate growth and development is expected in diverse areas in Qatar.
Victor Kiplagat
Excitement is bubbling in the air regarding the upcoming World Cup in Qatar which is a stone's throw away now. The countdown is literally over and in a week’s time, the biggest football tournament globally will take center stage.
Over 2 million visitors will flock to Qatar to watch the anticipated football matches live in Qatar’s breathtaking stadia. Additionally, close to a billion viewers will watch the matches and cheer for their favorite countries from every corner of the globe.
The football fiesta has everything to offer as far as real estate is concerned. The trajectory of real estate growth and development is expected in the following areas:
Pressure on Rental rates
Currently, all rental units, homes, and villas are totally sold out and fully booked. Increased demand for rental units has soared high tremendously as Qatar expects a huge number of visitors for the prestigious football tournament and Qatar’s marvelous touristic attractions.
Prime apartments have increased their hosting capabilities “double fold”. The pressure on rental rates has grown in leaps and bounds so as to efficiently solve any housing challenges that might arise.
Estates in beachfront locations will attract huge tenancy. In the same vein, the creation of employment means landlords, house managers, and the hotelier industry will have their “plate full” to host football enthusiasts and treat them well according to international housing and living standards.
Increase in Long-term leases
Renewal of property leases will increase immensely. Property lease has an eye on two ideal situations namely: short-term housing solutions and maximizing long-term profit in the real estate housing sector. Long-term leases will promote booming business interest in the housing and real estate sector to investors and landlords looking for business in early and mid-2023.
It is important to note that a long-term lease of the property in question cushions homeowners and property developers against housing loss especially rental units that only face booking for the short term when the tournament takes place in the Gulf State.
Prime apartments, villas, and beachfront homes face an increase in long-term leases as their features are prime, executive and enjoyable vacation experiences in the World Cup tournament period and beyond 2022. Potential investors and property developers value these properties under lease as profit levels might increase when housing opportunities that offer solutions “smile to them with profit” in a different holiday season even after the world cup in Qatar is over.
Foreign Investment Opportunities
Investment opportunities in Qatar are myriad. Construction companies from around the World have set bases in Qatar. As urban development takes center stage, imported “labor supply” has increased exponentially to help alleviate housing challenges ahead of the world cup tourney and portray Qatar as the perfect investment destination. Foreign investors have set their sights on the real estate market in areas such as transport, the hotelier industry, housing, the security sector, and stadia stewards just to mention but a few.
African countries with a keen eye on real estate have so much to learn from Qatar. Firstly, sports are a great gateway to the real estate world. Secondly, massive resources are needed to enjoy the “fruits of real estate investment”.
Additionally, countries under the same economic bloc should collaborate fully to realize all real estate goals, objectives, visions, and purposes. Furthermore, exposure is needed to visualize real estate growth in its full stature. Investment in the real estate sector is indeed striking gold in a desert for the present and future generations.
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