Qatar fails to control the real estate sector

  • Doha

Hamadein regime failed to save its struggling country from its economic crisis that negatively affected the real estate sector, which suffered heavy losses due to the failed measures.

This is evidenced by the decline in the number of building permits issued in Qatar last December by 0.3% on a monthly basis, according to a statement of by Ministry of Development Planning and Statistics.

The total number of building permits issued in Qatar during December 2018 amounted to about 677 licenses, compared to 679 licenses in the previous November.

The statement pointed out that the municipality of Al Rayyan came in the forefront of the municipalities in terms of building licenses issued in December by 200 licenses, representing 30% of the total, followed by Al Wakrah in second place with 156 licenses, followed by Doha with 119 licenses, followed by Al Daayen with 69 licenses.

According to the data issued, the number of new building licenses accounted for only 54% of the total issued licenses last December, with 368 licenses.

In the second half of 2018, the price index of machinery and equipment in Qatar increased by 1%, and the index of machinery and equipment prices in the second half of last year reached 102.6 points compared to 101.6 points in the corresponding period of 2017.

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