Atarto require additional 93,000 residential units by 2010 - 7/18/2008

Qataris expected to require an additional 93,000 residential units by 2010to sufficiently address the rising demand, as a result of rapidpopulation increase relative to supply and the country’s burgeoningeconomy.

The substantial need for housing developments isdriving the Qatar real estate services market, which is also expectedto witness a considerable increase as end-users seek the support ofexperienced professionals to find an ideal property that suits theirneeds.

In line with this, LifeStyle Homes and Properties, thereputed real estate sales and marketing consultancy in Qatar, hasannounced plans to provide specialized solutions to address end-users’property requirements.

The Qatari economy is currently experiencingtremendous boom and has emerged as one of the fastest growing economiesin the Gulf region, with its average Gross Domestic Product (GDP)growth projected to hit 12% annually by 2012. Recognizing theadvantages of residing within a high potential economic hub, a greaternumber of foreign nationals are acquiring residential propertydevelopments, which will also provide them with a Qatari residence visaas per a newly implemented foreign ownership laws.

As a pioneer inreal estate services in Qatar, LifeStyle Homes seeks to aid end-usersin finding ideal residential units through its highly experienced teamof real estate professionals, while offering high-value portfoliomanagement services to investors.
“Qatar-based developments areproving to be at the top of projects, which record the highest ROIrates in the region, making it a hotspot for investors,” said ArronBrowne, Sales and Marketing Director, LifeStyle Homes and Properties.
“However,the massive demand for high quality housing, climbing property pricesand widespread information clutter are some of the challenges a clientwho wants to settle in Qatar will be facing in his efforts to find anideal residential property. Our focus is to help these end-users tolocate a property that best suits their needs and budget.”

Initiallyformed to serve as the exclusive sales agent for Sabban PropertyInvestments’ ‘Sabban Towers’ project, LifeStyle Homes has expanded itsportfolio of services to become a real estate solutions provider toother leading regional developers. In addition to end-users seeking torent or buy properties, the company’s clients also comprise ofinvestors looking for high value projects to resell or to lease.

Amidstprojections that the population in Qatar will continue to grow by 7%per year, we are currently exploring various ways by which we canenhance our value-added services and solutions for our clients. We arealso anticipating the launch and completion of various projects in thecoming year, which further reiterates the need of the market for ahighly capable real estate services company that provides valuablesolutions to help developers, investors and end-users alike,” concludedBrowne.

Press release