The initiatives came in meeting with representatives of the private and government sectors, aimed at boosting private sector investment and economic growth. Al Khater said:...
FEATURES & ANALYSIS
As infrastructure and real estate investments surge in the Gulf, the facilities management (FM) industry is growing with them. Although end users typically see the cost of FM as a necessary evil, awareness of its contribution to lasting property value and a healthy living environment is rising and the industry’s contract values are expected to rise to USD 66 bn by 2020.
With rising GDP and the rapid growth of internet technologies, less developed countries in Southeast Asia, Africa, the Middle East and Latin America are emerging as competitive players in the global real estate market, and thus becoming increasingly attractive to investors.
According to a recently published report, `Beyond affordability – public housing and community development in the GCC', by Strategy&, the GCC region may be in need of one million housing units by 2018, due to population growth and a constant inflow of foreign workers.
Enquiries for leasehold and freehold residential properties in designated areas of Qatar have been rising. These are properties available to foreigners for long lease or freehold purchase.
Gulf sovereign wealth funds (SWFs) have been allocating between 5 to 10 percent of their assets under management to direct real estate for many years. The exception is the Saudi Arabian Monetary Agency, which opts for short-term instruments.