The result of a successful economy is the residential market real estate, said Chris Speller pictured, City Team Director, adding that Qatar will see continued growth in its real estate sector after the FIFA World Cup 2022. Speaking to the Peninsula next to the recently concluded Cityscape Qatar World Cup 2022, Speller said the country’s commercial market, currently valued at $ 5bn, would continue to grow after hosting a major sporting event this year.
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Speaking about the future of the Qatari housing sector, Speller said: When we see any big event happening in other markets, there is a huge influx because that global focus is moving wow. And they will. Because I think what Qatar planned for the FIFA World Cup 2022 will answer everyone, and it will focus more on seeing this opportunity.
The real estate sector will see perhaps a small spike. And then it can grow and have consistent growth, but that will be continuous growth. So I think that when the country’s ambition is to create that economic diversity, as we see with Qatar Energy’s focus on sustainable production, this will drive new types of investment in Qatar. And the byproduct of a thriving economy is your residential market.
Because when you get more companies, you get more SMEs and more organizations, they need accommodation. So I think you’ll see a spike in the post-FIFA World Cup venue, added Speller. He said Qatar’s housing industry and infrastructure were already seeing an increase in foreign investors moving to the country. At the moment we see a strong focus on a large number of new hotels and hospitality this year.
However, what we have seen in the local market is that individual sites have also grown significantly, which means an increase of 52 percent at present. There is a different types of investors currently attracted to Qatar, those who want to come and stay here. Those who want to start businesses and try to make themselves organized to become Qatari citizens, Speller said.
He added: One of the things we are seeing is the arrival of international investors looking for infrastructure. So after the Qatar Football World Cup, a large part of it revolves around smart cities, technology, and sustainability. According to Speller, the regional retail market is also seeing new trends after the blockade and the post-epidemic epidemic. He said: For more to know about Qatar World Cup tickets Click here.
What we are seeing throughout the GCC, as well as throughout the Mena region including Egypt as well, the developers are slowly changing the way they work as organizations. They continue to be top engineers in their local market, but they also export their skills to other countries. Therefore, the Qatari Diar has a major core operation in Egypt and sees Qetaifan Projects actually forming other alliances in other regions around the market, also extending to Saudi Arabia.
So they use the market and the technology they have learned here as imports and exports to drive incoming investments, but also to seek new financial opportunities elsewhere in the region, adds Speller. Asked if the real estate market has already surpassed its pre-epidemic levels, Speller said: I have spoken to many developers, I think they are seeing a gradual recovery, even if it returns to the pre-epidemic, I am not sure.
I think what will happen is there are still some announcements to be made about new development opportunities. When that first happens, you will see a growth set. As soon as you put a lot of products on the market, you see the fullness and spike around that, he added. Going forward, Speller said there will be changes in the housing market in Qatar next year. For more to know about Football World Cup tickets Click here.
Two different things a real estate developer looks for: the delivery of buildings and the desire to build. Qatar has a National Vision 2030. Once the FIFA World Cup is in place, the country can return to focusing on maintaining incoming investment. And I have high hopes, that by 2023 we will start to see growth in the Cityscape exhibition again, as the local market will return because they have something new to tell the world, adds Speller.
Big hospitality group recruiting 12,000 temporary workers for Qatar World Cup 2022
A Big Hotel user hires 12,000 overseas temporary staff to use 65,000 empty rooms in Qatari homes and apartments as temporary accommodation for the Football World Cup 2022 fans. Qatar has hired Accor, Europe’s largest hotel company, to oversee temporary operations.
65,000 rooms are like opening 600 hotels, so we are committed to hiring enough people to work in it, Accor chairman and CEO Sébastien Bazin told Reuters, adding that there is an ongoing drive in Asia, sub-Saharan Africa, Europe, and South America to hire housing providers, front desk workers, transportation professionals, and others.
All of that will be disbanded by the end of December, he said. Qatar World Cup 2022 accommodation will be booked by about 25,000 so far, and will provide more than 100,000 rooms, Omar Al Jaber, executive director of accommodation at the Supreme Committee for Delivery and Legacy, told reporters on Tuesday. We will have pressure until the first game starts.
This is normal and we are ready, said Al Jaber. Qatar hopes to attract 1.2 million visitors to the 28-day tournament in November and December. Qatar also provided 4,000 rooms on two docks in Doha Port, 1,000 Bedouin desert tents, and pre-built rural apartments. The booked accommodation is a must for ticket holders who plan to stay in Qatar during the FIFA World Cup 2022, Al Jaber said. Without accommodation, most fans will not be given a compulsory fan ID, which doubles as a visa to Qatar.
Using rooms such as hotels in houses and apartments will be a major operational challenge for Accor, Bazin said. The hotel user sends 500 containers from China, packed with goods, from sofas to silverware. Accor will also roll out a series of trucks, buses, and vehicles from Mecca in neighboring Saudi Arabia to overcome the shortage of vehicles available in Qatar during the tournament, he said. It also got a local company to clean 150 tons of dirty linen the work it would do each day.
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