FIFA World Cup: Rent prices set to increase during FIFA World Cup 2022

A local real estate report expects housing unit rents to rise at altered rates during the first half of next year as over one million people are likely to arrive in Qatar for the Qatar Football World Cup 2022.

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A weekly story by Qatar-based Al-Asmakh Real Estate Development Company, delivered on Saturday, hinted that the real land sector in the Gulf state will last to be the highest outlay among all sectors thru the next year. 

The state’s general cheap has allocated 74 billion riyals for major plans out of the total budget expenses, as the country profits with public projects in harmony with its set plans and strategies. The import in outlay goes to structure projects, the development of citizens’ lands, and public facilities development projects with roads, bridges, and an inclusive sewage network.

The story noted that several real plantation projects have touched completion, chiefly in Lusail City, which has an area of ​​about 1.8 million square meters. It sharps out that the positive growth rates were attained in the building of real estate projects through the fourth quarter of 2021, linked to the same period last year.

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The SC for Delivery and Legacy and the Qatari Ministry of Labour hired a memorandum of empathy last March, under which it was decided the two would collaborate in serving to provide lodging for followers and visitors to the country during the FIFA World Cup 2022. For more to know about Qatar World Cup Tickets Click here.

The support in the first phase comprised over 150 dissimilar properties in buildings, towers, and housing complexes and fully furnished units, providing about 15,000 rooms. The rental value of the units is resolute giving to the established government housing prices, while the rental retro for real estate will last for at least five years, which is the period of agreements concluded with real estate owners.

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“In the company’s weekly story, Rashid Al-Kaabi, the general manager of Utopia Real Estate, supposed that the third week of the present month saw a relative return to activity with a surge in trading values ​​by 94% likened to the previous week.”

The contracts aim to benefit from the rental properties during the Qatar World Cup and then utilize them to house employees through the government housing program. It added that the rise in prices will be accompanied by an increase in demand for one-bedroom and two-bedroom apartments during the first half of FIFA World Cup 2022.

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