DEMAND FOR HIGH-END PROPERTIES GROWING, SAYS ENGEL & VOELKERS

Doha • Despite the soaring construction material prices and housing rents the high-end property market in Qatar is thriving, according to a German-based real estate company manager.
"The demand for local and international properties is very high. People that are visiting us at our booth are genuinely interested in the properties being showcased at the exhibition, said Christof Birkhofer, Managina Director of Engel &Voelkers Doha Office.
The German-based real estate company Engel & Voelkers which specializes in high end properties around the world launched its operations in Qatar on Monday at the opening of the 3rd Qatar International Real Estate and Investment Exhibition (Q-Rex) at the Doha Exhibition Centre.
There is high demand for properties in the Doha real estate market, including rental space in residential and commercial estates, but Qatari buyers are also looking for properties overseas, Birkhofer told The Peninsula yesterday. Many nationals approaching the company at the exhibition are mainly inquiring about homeownership in London, Cyprus, Switzerland and Germany.
"The real estate market in Qatar as in the whole region is booming. Doha, Dubai, Abu Dhabi, Bahrain are all witnessing a real estate boom and the demand exceed the supply for properties," said Birkhofer.
Some of the most exclusive properties out of the company's portfolio are showcased at the exhibition, featuring among others a $42m residence in Miami, traditional antic castles in Europe or a private island in Seychelles.
The high end properties that Engel & Volkers is handling in the local market can fetch from QR1m for an apartment at The Pearl Qatar to approximately QR30m or QR40m for top villas and penthouses.
"The Doha real estate market is a perfect location for our company," said Birkhofer. "We will provide clients not only access to international properties, but we will also provide a gateway to our large client network."
The company's first step in the market was the signing of a memorandum of understanding (MoU) on the first day of Q-Rex, between Trend Capital, a German investment fund company and Dorrat Adoha, a local development company for residential tower in Viva Bahriya at The Pearl Qatar. The deal was arranged by Engel & Voelkers.

For further enquiries, please contact:

Ms Wing Roberts, Marketing Director
Head Office Middle East, Engel & Voelkers
+971-4-3046 376
uae@engelvoelkers.com
http://www.engelvoelkers.com/middleeast

About Engel & Voelkers:

Founded in 1977 and set foot into the Middle East in 2004, Engel & Voelkers Group is one of the world’s leading real estate brand in marketing of high-class residential property in top locations. The global network of Engel & Voelkers has now developed to 26 countries on the 4 continents and 300 sales shops. Consultancy, leasing, sales and valuations form the core compentences of Engel & Voelkers for its private and institutional clients. The group is expanding on the basis of its productive licensing partner system and has now over 300 license partners. Its success is due to specialization in submarkets and the excellent training of all highly-qualified partners and employees, ensuring optimum service quality.

This release was published on openPR.