Doha: Qatar’s foreign merchandise trade surplus witnessed a resilient second quarter by surging 12.4 percent per annum, totalling an amount of QR19.6bn, as per the recent preliminary figures of the value of exports of domestic goods, re-exports, and imports given out by the National Planning Council.
ValuStrat Price Index (VPI) notes that the country’s trade surplus was buoyant due to the expansion of supply chain operations across Qatar and the region. The Qatar Free Zone Authority and FedEx aims to create a regional logistics hub in Ras Bufontas Free Zone, enhancing its wide range of operations and functions.
Commenting on the industrial market, the Research head of Qatar at ValuStrat, Anum Hassan stated that the median rents for both ambient and climate-controlled storage facilities saw a Y-oY decline of over 5 percent.
The Industrial Production Index (IPI) (base year 2018=100) reached 96.1 points, a decrease of 7 percent in Q2 2O24 compared to its previous quarter and 7.5 percent annually as per the National Planning Council.
On the other hand, the Ministry of Municipality passed a resolution to cut land leasing rates by 90 percent for commercial activities in the Industrial Zone, lowering costs to QR10 per sq m per year. In addition to that, plots designated for logistical projects experienced a rate decline from QR20 to QR5 per sq m.
Meanwhile, the maritime industry acquired a 51 percent Y-O-Y growth in container handling via its Hamad, Doha, and Ruwais ports in June 2024 as the total number of ports reached 242 vessels and 144,000 containers.
The Q2 Date also states that the monthly median asking rent for dry warehouses fell by 2 percent on a quarterly, and 6.3 percent yearly basis, amounting to QR37 per sq m.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q2 2024
