Doha, Qatar: The country witnessed a solid second quarter in the Industrial Production Index, which stood at 99.7, signaling an increase of 1 percent year on year.
According to ValuStrat, Q2 2023 remains robust in industrial investments as numerous firms partnered for promising projects.
The Gulf Warehousing Company (GWC) started a collaboration with startups and SMEs on technologies to allow the automated tracking and tracing of warehouse inventory.
While on the one hand, GWC completed phase 1 of Wukair Logistics Park comprising 450 units, on the other, it announced phase 2 of the project comprising 850 storage units to be handed over in the forthcoming months.
Recently, Qatar signed a QR20bn deal with Chevron Phillips Chemical to build a plant to be operational by 2026, including the biggest ethane cracker in the Middle East, converting natural gas into polyethylene and other plastic.
Mwani Qatar reported a 32 percent year-on-year expansion in the volume of trans-shipment containers handled by Hamad, Doha, and Al Ruwais ports during H1 2023.
However, the report states that the median quoted asking rent for dry warehouses plunged to QR40 per sq m, indicating a 5.6 percent QoQ softening but staying stable annually.
Similarly, the median asking rent for temperature-controlled warehouses decreased to QR46 per sq m, eventuating a drop of 3 percent on a quarterly
Dry and temperature-controlled storage projects in Zone 71 of Umm Salal Mohammad & Umm Salal Ali areas recorded quarterly increases in median asking rent of 5 percent and 3.6 percent, noted ValuStrat.
As Compared to the first quarter of the year, the median asking rent for dry storage projects in Zones 91 and 92 including Aba Salil, Birkat Al Awamer, Logistics Village, and Mesaieed areas, and Zone 57 Industrial Area dropped by 2.9 percent and 6.7 percent, respectively in Q2 2023.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q2 2023