As part of its measures taken to issue its annual report on the various sectors of the economy in Qatar, Oxford Business Group met with SAK Holding Group CEO Abdulrahman Al-Najjar. He outlined the current condition of the real estate industry and its future, and opportunities and development prospects in view of the data reflected by the market in the past two years.
Al-Najjar received in his office a delegation from Oxford Business Group, that included the following:
Ms Isabella Kirk - Regional Director,
Mr Patrick Cook – Chief Editor,
Ms Charlotte Von Schump, The director of the economic report project that will be published by Oxford Business Group on the economy in Qatar. The press meeting covered a lists of topics that concern the real estate investors and the pioneers of developments, building and construction.
On the top of this list is key strategic infrastructure and service projects, and projects related to hosting the 2022 World Cup, other vital development projects going on in different locations in Qatar. The meeting also covered efforts on more than one level to support and protect the real estate sector from the repercussions of the recession that has affected the economies in the region due to significant declines in oil prices.
The meeting covered challenges facing the real estate development sector, such as liquidity heavily affected by strict regulations imposed on lending and, how to stimulate the market, the performance of the market that is trying to move forward under the weight of declining trading and selling and buying, there is also the sharp drop in the prices of land and rents of some residential and commercial real estate categories. In addition, it touched on the opportunities that are going to be available after the completion of many infrastructure projects worth $ 200 billion, and other projects associated with World Cup 2022.
Al-Najjar gave a comprehensive overview of SAK Holding Group being a leading real estate development entity in Qatar, with more than 55 years of experience during which, the founder, Sheikh Thani Bin Abdullah Al-Thani accumulated real estate successes and achievements that had a long-lasting impact on the Qatari real estate landscape. For decades, the company played a vital role in providing adequate housing for a wide range of residents, in particular, the middle-income or the new expats. He talked about the founder's strategy and his insight about the present and future of the real estate sector. Then he touched on SAK Holding Group efforts to support local real estate investors, such as launching “Sharekna” initiative, which got the full attention of the economic media group representatives. Al-Najjar then gave them a detailed explanation of how Sharkna's initiative works. He then talked about the projects that were completed on the basis of the real estate partnership, and the positive reactions of owners of empty lots of land because it presented to them an unprecedented full-fledged estate product.
British Oxford Business Group expressed great interest in the monthly real estate report issued by SAK Holding Group Market Watch Office. Oxford Chief Editor dubbed the report as a source of analytical information capable of defining market trends. Al-Najjar said major companies, especially those operating in building, developing, constructing and managing real estate and properties, must have active sources of information capable of providing a realistic overview of the market conditions and trends. The market monitoring office expeditiously collect information about real estate trading, selling, buying and leasing transactions, from the field and from bulletins and reports issued by competent agencies, it provides periodical readings of the market conditions and future projections, to raise real estate awareness, and benefit everybody. The Market Watch publishes accurate and transparent weekly and monthly real estate reports and puts them before the concerned authorities such as developers, investors and real estate products end users, highlights the features impacting the real estate industry, and presents solutions and opportunities, which serve the real estate sector as a whole