Forbes Middle East magazine has placed four Qatari real estate companies in its recently published report on the top 50 listed real estate companies in the Middle East for the year 2019.
Ranked by market value as of October 21, 2019, two of the Qatari companies have found space in the top 10 of the report that features the top 50 companies listed on the region’s stock exchange.
Ezdan Holding Group, which has been ranked at the fourth place with a market value of $4.5 billion, has emerged as the top Qatari company in the list.
Barwa Real Estate Group with a market value of $3.6 billion has been ranked sixth among all companies as part of the report.
United Development Company (UDC) and Mazaya Real Estate have been ranked 12th and 38th, respectively in the list.
While UDC has a market value of $1.3 billion, Mazaya Real Estate’s market value reached $229 million as of October 21, 2019.
Qatar’s real estate sector is closely linked to its economy with the industry contributing heavily to growth.
Over the last one decade, Qatar has become world-renowned for erecting architectural masterpieces such as the Pearl-Qatar, Msheireb Downtown Doha, Lusail City and various other projects currently under construction.
According to the report, FIFA World Cup in 2022 is expected to further brighten the outlook of Qatari market by buoying real estate sales while supporting the hospitality sector.
The Middle East region in general and the Qatar in particular has also emerged at the forefront for adapting proptech, an emerging field that implements the use of technology in real estate to produce the best results.
The four listed Qatari real estate companies finding place in Forbes top 50 list indicate the strength of the local property market.
To find the market value of listed real estate firms in the Middle East as of October 21, 2019, Forbes multiplied the share price on that day by the total number of issued shares.