The upcoming FIFA World Cup and the foreseeable end of the COVID-19 pandemic are all set to boost the growth of Qatar’s real estate industry in 2022 and the years to follow, PwC Middle East has said in a report released on Sunday.
A new analysis by PwC Middle East indicates that five key factors like waning of COVID-19 pandemic, FIFA World Cup, tourism, ESG and property technology will drive Qatar’s real estate sector in 2022 and beyond.
While the industry’s current recovery could give way to a slowdown in the medium term, the report said, Qatar’s roster of mega events may well provide an antidote.
As the pandemic wanes, the report said, the office and retail sectors in the country are witnessing a new normal.
Despite the headwinds caused by the restrictions and travel embargoes imposed to control the outbreak, the report said, Qatar has demonstrated remarkable resilience.
A positive outlook for the real estate industry is particularly supported by the FIFA 2022 World Cup, taking place from November 21 to December 18.
The report said, “The World Cup has been at the heart of Qatar’s economic plans and served as a source of optimism during the downturn.”
(Continued on page 9)