“We predict that Qatar’s North Field Expansion project will boost LNG production by roughly 32% by 2027 and contribute to stronger real GDP growth of an average of 5% in 2026-2028, up from 2.7% growth in 2024-2025,” the report stated.

“Government revenue and the non-hydrocarbon economy are expected to benefit from increased LNG production. But we anticipate lending growth to stay at about 4% to 5%,” S&P Global Ratings noted.

High-risk cyclical industries, such as real estate, real estate rental services, hotels, contractors, commercial agencies and investment firms have seen a comparatively concentrated increase in lending in recent years. These industries make up somewhat less than half of all domestic loans.

The real estate market in Qatar is making a modest comeback. According to data released by the Real Estate Regulatory Authority, the total number of properties and units sold in 2025 rose by almost 51% year over year. Strong demand in the residential housing market in strategic Doha neighbourhoods was the primary cause of this. Regulatory changes like the new “Qatar Residency by Investment” programme, which grants long-term residency to foreigners who make commercial or real estate investments, help to sustain the current recovery.

In the first three quarters of 2025, the hotel business gradually recovered, with tourist arrivals up 2% year over year, mostly from Gulf nations. According to the S&P Global Ratings report, “We expect the estimated systemwide average non-performing loan ratio to decline to about 3.4% in 2026-2027, down from an estimated 3.7% in 2024-2025, supported by the stable asset quality of the two largest banks, the Qatar National Bank (QNB) and Qatar Islamic Bank (QIB).”

The report concluded, “We anticipate that the number of new non-performing loans will be low while the real estate industry continues to function better. However, several mid-sized banks will have substantial Stage 2 loan risk due to historical real estate holdings.”

There is also an anticipation that a mix of recoveries and write-offs, as well as interest rate reductions and precautionary provisions booked during the previous several years, will help stabilise asset quality. According to our estimates, the systemwide coverage ratio was around 128% as of September 30, 2025, and it will continue to be higher than 100% in 2026-2027.

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As per the NPC data, real GDP estimates for Q3 2025 reached QAR 186.1 billion at constant prices, compared with QAR 180.9 billion in the third quarter of 2024.

“Non-hydrocarbon activities accounted for 65.5% of real GDP, with value added reaching QAR 121.9 billion in the third quarter of 2025, compared to QAR 116.8 billion in the same period of 2024. This represents a year-on-year increase of 4.4%, in line with the objectives of the Third National Development Strategy (NDS3) and Qatar National Vision 2030,” the report noted.

Within Qatar’s non-hydrocarbon economy, the fastest-growing activity on a year-on-year basis was construction (9.1%), followed by wholesale and retail trade and repair of vehicles (8.9%), and accommodation and food service activities (6.4%). The expansion reflected rising domestic demand, increased visitor activity, and the continued rollout of infrastructure and public-sector projects, with positive spillover effects across services and trade.

Secretary General of NPC, HE Dr. Abdulaziz bin Nasser bin Mubarak Al Khalifa, dubbed these numbers as trends reflecting “the resilience of the Qatari economy and the continuity of the path of economic diversification, as it achieves real growth driven by the strong performance of non-hydrocarbon activities.”

“This performance underscores the success of economic and development policies in enhancing the contribution of productive and service sectors, in line with the targets of the Third National Development Strategy and strengthens the national economy’s ability to achieve sustainable and balanced growth over the medium and long term,” the official stated.

Overall, NPC’s data noted 15 out of 17 economic activities recording positive real growth in the third quarter of 2025, demonstrating the resilience of the Gulf country’s overall economic base.

Talking about Qatar’s non-oil sectors turbocharging its GDP growth, the logistics sector emerged as another powerful driver, supported by rising trade volumes, expanding transshipment activity, and sustained investment in port infrastructure. Hamad Port, at the same time, played a central role in the Gulf country’s development ambitions by elevating the country’s position within regional and global supply chains.

The facility has transitioned from a national gateway into a multi-functional logistics platform, enabling higher-value activities such as re-exports, regional redistribution, and integrated logistics services. According to the 2024 Container Port Performance Index, jointly published by the World Bank and S&P Global, Hamad Port was ranked among the highest-performing container ports worldwide, while also holding the top position in the Gulf region, reflecting strong operational efficiency and advanced infrastructure.

As per Mwani Qatar, the authority controlling the Gulf nation’s seaports and shipping terminals, transshipment volumes accounted for nearly 50% of total container throughput between January and November 2025, signalling a significant shift in the port’s cargo profile.

According to logistics analysts, this growth reflects Qatar’s geographic position along major east–west shipping routes, combined with targeted investment in automation, digital platforms, and streamlined customs procedures. These measures also helped shipping lines reduce turnaround times and optimise operating costs, strengthening Doha’s appeal as a regional calling point.

“Hamad Port has shifted from being primarily a national gateway to a regional logistics platform. Its efficiency, connectivity, and capacity allow Qatar to capture higher-value activities such as transshipment and integrated logistics services,” logistics analyst Uwais Rahman told Logistics Middle East.

The expansion of port-led logistics activity has further improved non-hydrocarbon exports, along with sectors like manufacturing, construction, and e-commerce, while reinforcing supply chain resilience against external disruptions.

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The planned 785-kilometre high-speed railway line will connect the capital cities of Riyadh and Doha, with Hofuf and Dammam serving as the key stoppages. As per the report of the Saudi Press Agency (SPA), the project will also link King Salman International Airport in Saudi Arabia with Hamad International Airport in Qatar. The project, under which high-speed trains will operate at speeds exceeding 300 kilometres per hour, reducing travel time between the two capitals to around two hours, will see its construction process completed within the next six years.

Apart from improving the region’s transportation game, the railway project will also generate an economic impact of nearly 115 billion Saudi riyals (USD 30.7 billion) on the combined GDP of both countries, serving more than 10 million passengers annually and, most importantly, creating over 30,000 direct and indirect jobs.

Saudi Arabia already has the experience of operating a high-speed railway system, with the existing 450-km long Haramain high-speed electric railway connecting the holy cities of Makkah and Madinah, with stops in Jeddah, King Abdulaziz International Airport and King Abdullah Economic City (KAEC). The Kingdom has also started the tendering process for the Qiddiya high-speed railway, connecting King Salman International Airport, King Abdullah Financial District (KAFD) and Qiddiya City in Riyadh. The trains will have a top speed of 250 kilometres per hour, connecting the destinations within 30 minutes.

“In the rest of the region, Egypt is currently building the first phase of a 2,000-km high-speed railway network while Morocco has embarked on the construction of the second phase of its HSR system, linking Marrakech and Kenitra. In the UAE, the tendering process is underway on the Abu Dhabi-Dubai HSR link. Iraq’s Development Road mega project is expected to include an HSR system,” SPA noted.

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According to the Qatar News Agency (QNA), the first was an agreement on the promotion and mutual protection of investments signed by Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal Al-Thani, and Uruguay’s Minister of Foreign Affairs, Mario Lubetkin. These pacts are part of efforts to create a new legal structure that facilitates bilateral investments, apart from enhancing confidence in investors, providing equal treatment and shielding investors from non-commercial risks. These agreements also allow for the free transfer of funds and adopt the highest global standards for dispute resolution.

QNA described the agreements as a key stride in expanding the scope of economic and commercial cooperation between the two countries and in opening new channels of mutual investment, particularly in key sectors and services. The two countries also agreed to eliminate double taxation of income and tax evasion and avoidance, with Qatar’s Minister of Finance, Ali bin Ahmed Al-Kuwari, and Lubetkin signing a document in that direction.

At the signing ceremony, Al-Kuwari stressed the significance of the tax agreement, saying, “It will contribute to supporting international transparency standards through the exchange of documented financial information, alongside strengthening bilateral economic relations between the two countries.”

The tax treaty will eliminate double taxation, eliminate avoidance of taxes, and ensure that individuals are not treated unfairly. The agreement is also anticipated to strengthen broader economic and trade cooperation between the two countries and provide opportunities for greater investment, particularly in high-growth sectors and services. Qatar hopes the deal will deepen bilateral relations and advance mutual interests. Al-Thani and Lubetkin have already had discussions on strengthening and expanding business, investment, and industrial cooperation between the Gulf nation and its Latin American counterpart.

“The signed agreements will become operative upon completion of ratification procedures in accordance with each nation’s domestic laws,” QNA concluded.

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On a post on its X (formerly Twitter) platform, Mwani Qatar, the integrated port and logistics services provider responsible for managing the Gulf nation’s seaports and shipping terminals, confirmed the news, as the cargo and container throughput increased by around 60% and 8% respectively, compared to November 2024. Livestock volumes and vessel arrivals also increased by 81% and 14% respectively.

“The ports received 272 vessels while the container handling through the three ports stood at 117,941 TEUs (twenty-foot equivalent units). The general and bulk cargo, RORO, livestock, and building materials during the same period accounted for 159,480 tonnes, 8,475 units, 50,373 heads, and 9,846 tonnes, respectively,” reported the Mwani Qatar data.

The Hamad, Ruwais, and Doha ports serve as an effective link between markets in Asia, the Middle East, Africa, Europe, and America, contributing to reducing cargo transit time and improving the efficiency of supply chains. These facilities are also supporting the country’s plan to diversify the domestic economy by facilitating export and re-export operations, enhancing the ability of local industries to access foreign markets, and promoting maritime tourism.

“The ports received 245 vessels in October 2025, while the container handling through the three ports stood at 119,003 TEUs (twenty-foot equivalent units). The general and bulk cargo, RORO, livestock, and building materials during the same period accounted for 216,466 tonnes, 9,566 units, 7,682 heads, and 11,362 tonnes, respectively,” informed Mwani Qatar.

It is worth mentioning that Qatar recently won the “Favourite Cruise Destination” title at the “2025 Wave Awards,” one of the United Kingdom’s leading events celebrating the cruise and travel industry. The recognition further reflects the Gulf nation’s growing status as a premier global cruise destination, supported by favourable factors like advanced infrastructure, rich cultural attractions, and high-quality visitor experiences.

“The announcement follows the launch of Qatar’s 2025-2026 cruise season, which began with the arrival of the luxury cruise ship MSC Euribia at the Doha Port. Qatar expects to welcome 72 cruise calls this season, including 40 transit stops, 15 turnaround trips, and three maiden calls,” reported The Peninsula.

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International Finance recently spoke with Shahnawaz Rashid, Chairman of the CBFS Board, Executive General Manager, and Head of Retail Banking at Commercial Bank.

In the conversation, Shahnawaz Rashid highlighted CBFS’s top priority: advancing Qatar’s financial landscape and shared how the institution is actively working toward that goal. He also offered insights into CB Waseet, one of Qatar’s leading trading apps.

CBFS operates across several key functions. How would you describe your core mission?

Advancing Qatar’s financial landscape is a top priority at CBFS. We have geared all our efforts to drive the sector forward by empowering investors and supporting their growth. In light of our mission, we have introduced world-class solutions that range from stock execution and asset management to market intelligence. We strive to remain at the forefront of the financial services industry, and we have the scalability, resources, and foresight to introduce state-of-the-art solutions in the market.

Market making is not a widely understood concept in the region. Can you explain your role in that space?

Market making involves continuously providing buy-and-sell prices for selected listed stocks to enhance liquidity and price efficiency. CBFS is among the licensed market makers, and we work closely with the Qatar Stock Exchange. Our role is to instil investor confidence and ensure tighter spreads, as they are essential in a healthy, active market.

How do you support retail and institutional investors in their investment journey?

We offer a suite of tailored financial solutions to retail and institutional investors. For retail clients, our mobile trading platform, CB Waseet, offers user-friendly access to live market data, fast order execution, and real-time portfolio tracking. As for our institutional clients, we provide a high-touch service, research-driven insights, and block trading capabilities. Our solutions have been designed to facilitate everyday life while enabling our customers to achieve their goals.

Speaking of CB Waseet, what makes it one of Qatar’s top trading apps?

When designing CB Waseet, our top priority was to create a user-friendly and reliable experience, and that’s exactly what we delivered. The app successfully bridges convenience with functionality while offering advanced features like technical analysis tools, multilingual support, and instant notifications. This creates a secure and responsive space for modern investors. CB Waseet is a gateway for seamless trading experiences.

How will your recently introduced research division add value for investors?

Staying relevant nowadays takes a village. Staying on track with the evolving landscape and growing needs of investors is necessary if you want to be at the forefront. At CBFS, we continuously ask ourselves: What kind of support do investors need? How can we integrate advanced tools to elevate their trading experiences? How can we empower them to achieve their goals? We conduct research around these questions, and through the insights we get, we deliver exceptional services that enable clients to make well-informed and confident decisions. Our added value for investors is transparency, financial knowledge, and round-the-clock support.

What’s ahead for CBFS in the coming years?

Our plans include expanding our digital services, introducing more innovative investment products, and further positioning CBFS as a key player in market development. As Qatar’s capital markets mature, we will continue to drive growth and innovation. For investors navigating the evolving landscape, CBFS is more than just a brokerage – it’s a long-term financial partner with a relentless commitment to market integrity and innovative solutions. With a solid reputation and trusted expertise, CBFS remains fundamental in Qatar’s financial ecosystem.

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The gross profits of Estithmar Holding reached QAR 1 billion, up from QAR 801 million in 2023, reflecting a 27% increase. The company also achieved earnings before interest, tax, depreciation, and amortisation (EBITDA) of QAR 742 million. The results showed a 20% rise in the company’s net profit compared to 2023, reaching QAR 422 million. Earnings per share also increased by 17% from 2023, reaching QAR 0.119 per share.

The 20% growth in net profit is attributed to the increase in the company’s revenues, which were primarily driven by the contracting and healthcare clusters. The contracting cluster expanded by efficiently executing and delivering projects in the Kingdom of Saudi Arabia. The healthcare cluster contributed to the rise in 2024 revenues, driven by the sustainable performance growth of The View Hospital in Qatar and the expansion of the cluster through the subsidiary Apex Health, which signed management and operation agreements for several hospitals. A set of measures taken in the ventures cluster has also contributed to restructuring the business model and increasing revenues.

The financial results for 2024 reported a 25% increase in assets compared to the previous year, resulting from the new projects added to Estithmar Holding’s portfolio, including the Korean Medical Centre in Lusail, the Rixos Baghdad project in Iraq, and the Rosewood Maldives Resort. The results also revealed a current liquidity ratio of 1.22. The Board of Directors of Estithmar Holding recommended a dividend distribution equivalent to 10% of the capital, with one free share for every 10 shares.

The results have demonstrated the holding company’s ability to maintain sustainable growth, enabling it to expand regionally and internationally, supported by the broad trust it has gained from its successful track record across all operational sectors locally. In 2024, Estithmar Holding signed numerous agreements with sovereign wealth funds and regional government entities to transfer its expertise, particularly in healthcare, specialised contracting, services, and real estate development sectors.

The contracting cluster contributed 42% to the company’s revenues in 2024, driven by its notable activity both locally and regionally, especially in Saudi Arabia. The cluster completed several agreements and contracts in 2024, with Elegancia Arabia, one of Estithmar Holding’s companies, participating in major projects such as NEOM, the Red Sea Project, and AMALA, among others.

The services cluster contributed 35% to the company’s revenue. This sector provides services such as facilities management, catering services and solutions, manpower and human resources, and event support, among others. In 2024, the cluster expanded into Iraq and Libya, in addition to its operations in Saudi Arabia and Jordan.

The healthcare cluster, through Estithmar Holding’s subsidiary Apex Health, continued to achieve sustainable growth, driven by the company’s expansion in applying the hospital management and operation model regionally, including in Iraq and Libya. Hospitals in Qatar, including The View Hospital and The Korean Medical Centre, continued to gain trust by adhering to the highest international quality standards, hosting world-class medical professionals, and activating partnerships with leading international medical institutions such as Cedars-Sinai (USA) and Asan Medical Centre (South Korea), among others.

Estithmar Holding’s cluster performed steadily, attributed to the demand for the sector’s projects, including Al Maha Island, which received over 4.7 million visitors in 2024. The year also concluded with a strong finish for the second season of Lusail Winter Wonderland and a successful launch of its third season, attracting thousands of residents and tourists in Qatar. Additionally, the company’s hotel facilities, such as Katara Hills and Maysan Doha Resorts, continued to lead the luxury hospitality sector in Qatar throughout the year.

Similarly, the cluster’s projects outside Qatar have progressed. The Rixos Baghdad project, which features residential apartments and a world-class hotel, made significant progress in its construction phase. The Rosewood Maldives Resort project is also advancing rapidly in terms of completion and is expected to become a prominent tourism destination in the Maldives and globally.

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Despite these challenges, prominent markets in the region—the UAE, Saudi Arabia, Qatar, and Egypt—showed remarkable adaptability and provided strong signals of long-term promise.

This success stemmed from a confluence of factors, including visionary government policies, the pursuit of ambitious “giga” projects, and growing interest from foreign institutional and individual investors. As a result, the Middle East continues to reinforce its reputation as a compelling destination for real estate investments.

Year of resilience and transformation

In 2024, the Middle Eastern real estate sector demonstrated a robust ability to withstand external pressures. Although the broader geopolitical environment could have undermined investor confidence, most key markets in the region were buoyed by stable oil prices, which helped ensure the continuity of major infrastructural developments.

Governments in Saudi Arabia and the UAE capitalised on these stable revenues to fund real estate and related non-oil projects, supporting diversification initiatives that have become increasingly central to national economic strategies.

This was especially evident in Saudi Arabia, where the ambitious diversification agenda called “Vision 2030” encompasses a shift away from a purely hydrocarbon-based economy toward a more multifaceted growth approach.

Rapid urbanisation emerged as an additional factor driving market expansion. Metropolitan areas such as Dubai in the UAE, Riyadh in Saudi Arabia, and Doha in Qatar continued to experience growing populations partly due to a steady influx of expatriates and high-net-worth individuals. These new residents spurred demand for residential as well as commercial real estate.

In Dubai alone, plans are set to develop over 28,700 villas by 2025 to meet the needs of the expanding expatriate population and wealthy global buyers seeking luxury accommodation. Across different cities, a rise in commercial real estate projects supported the growth of multinational and local businesses, while hospitality developments benefited from the revival of international travel and major events.

The Emirati city in January 2025 witnessed the administration approving the implementation of a series of housing projects worth AED5.4 billion (USD 1.5 billion) to benefit citizens across different areas of Dubai.

The projects will see 3,004 new homes being built for Emirati citizens, of which 1,181 units will come up in Latifa City for beneficiaries under the housing loan category. For beneficiaries, the projects envisage 606 new homes in Al Yalayis 5, 432 homes in Wadi Al Amardi, 398 homes in Al Awir 1, 200 homes in the Makan area of Hatta, 120 homes in Oud Al Muteena, and 67 homes in the countryside and rural areas of Dubai.

Despite facing wide-ranging global uncertainties, the Middle East’s major real estate markets stepped into 2024 with a renewed sense of purpose. National diversification agendas, favourable regulatory reforms, and the expansion of mixed-use urban developments all contributed to the sector’s dynamism.

Real estate symbolises national progress and reflects a country’s economic aspirations. Current trends emphasise sustainability, smart city technology, and integrated community living.

The key markets

The real estate landscape in the Middle East includes multiple countries at different stages of economic and infrastructural development. While smaller or emerging markets contribute to the diversity of the region’s property sector, four nations in particular—the UAE, Saudi Arabia, Qatar, and Egypt—have captured international attention with their rapid growth, bold policy moves, and large-scale real estate initiatives.

Each exhibits distinctive features: the UAE showcases its global-city credentials and investor-friendly regulations, Saudi Arabia pushes transformative “giga” projects through Vision 2030, Qatar builds on its post-FIFA World Cup momentum, and Egypt capitalises on a huge domestic market and strategic reforms to attract greater foreign investment.

UAE remained a leading indicator of real estate prowess in the region in 2024, with Dubai in particular achieving new benchmarks in teams of transaction volumes and property valuations.

Knight Frank’s 2024 Global Residential Review noted that Dubai’s real estate market was among the fastest growing in the world, with a 21% price increase and approximately 180,900 transactions totalling AED 522.1 billion (USD 142.1 billion). This performance was attributed to the city’s business-friendly ecosystem, zero personal income tax, and an established global reputation as a hub for finance, tourism, and technology.

A policy milestone that continued to boost Dubai’s real estate appeal was the Golden Visa programme, under which long-term residency permits were issued to tens of thousands of investors, entrepreneurs, and professionals. By 2024, more than 100,000 investors had leveraged this policy to establish or expand their presence in Dubai, injecting significant capital into the property market.

Another essential piece of Dubai’s success story is its emphasis on infrastructure and connectivity. The city’s airports collectively rank among the world’s busiest, while new expansions at Al Maktoum International Airport and enhanced roadway systems reinforced Dubai’s role as a major global transit point.

Sustainability and smart city initiatives have also become integral parts of Dubai’s planning. Under the Dubai 2040 Urban Master Plan, large swaths of the city are being reshaped to accommodate green spaces, renewable energy solutions, and eco-friendly transportation. Estimates suggest that by 2025, over a third of newly constructed office buildings will have LEED certification or similar sustainable credentials.

Meanwhile, major mixed-use developments in areas such as Dubai Creek Harbour and Dubai South are introducing innovative designs meant to foster walkability, efficient public transport, and the integration of retail, residential, and commercial areas.

While Dubai naturally garners much of the publicity, Abu Dhabi—the capital of the UAE—sustains its own real estate expansion by diversifying its economy away from reliance on hydrocarbons. The city aims to become a cultural hub through projects like the Louvre Abu Dhabi, along with significant developments on Saadiyat Island and Al Reem Island.

Taking the game to the next level, the Dubai Land Department recently launched the Smart Rental Index 2025, marking a transformative milestone in regulating and developing the Emirati city’s real estate sector. This index integrates the latest technologies and real estate expertise, aiming to provide exceptional services that meet the needs of all stakeholders in the real estate market. It further enhances transparency and fairness in determining rental values, aligning with Dubai’s Digital Strategy and the Dubai Real Estate Sector Strategy 2033 objectives.

Streamlined foreign ownership rules and enhanced regulations have helped draw more international investors to Abu Dhabi, making it an increasingly appealing destination for those seeking returns from luxury and mid-market residential developments.

Saudi Arabia: A giant in the making

Saudi Arabia has been on a clear path of real estate transformation, guided by “Vision 2030.” This national strategy seeks to diversify the Kingdom’s economy, cultivate private-sector participation, and position Saudi cities as world-class destinations for investment and lifestyle.

Substantial investments in the Kingdom’s giga projects, such as NEOM, the Red Sea Project, and Qiddiya, are driving this growth. These developments are not only designed to generate global excitement but also to advance Saudi Arabia’s sustainability and innovation credentials. Mega-scale ventures serve as catalysts for economic diversification, cultural enrichment, and technological advancement.

The residential and commercial aspects of these projects are expected to attract significant attention from institutional investors. They aim to enter the Saudi market early, anticipating future appreciation as these cities and attractions come online.

The government has also introduced incentives to stimulate local housing demand, including subsidised mortgage programmes. Moreover, significant efforts are being made to liberalise aspects of the economy, such as the relaxation of certain social regulations and a push for greater tourism, all of which translate into further real estate opportunities.

Luxury housing is particularly on the rise in Saudi Arabia, spurred by a growing affluent population and expatriates who prefer secure, gated communities and amenities that cater to upscale tastes. Market analysts predict that by 2025, the Saudi residential real estate market might reach a valuation of about USD 1.64 trillion, driven partially by the synergy of ongoing giga projects and progressive social reforms.

Qatar: Building on momentum

Qatar’s real estate sector has continued to build on the legacy of hosting the FIFA World Cup 2022. Although the event was a global showcase for Qatar’s infrastructure capabilities, the country’s real estate market has broadened its focus beyond short-term gains tied to sporting events.

In November 2024 alone, real estate transactions were estimated at QAR 1.14 billion (USD 311.55 million), with Doha, Al Rayyan, and Al Dhaayen municipalities leading in financial value and volume.

Legislative efforts to open the real estate market to foreign buyers have energised demand for properties in specific freehold areas. Luxury developments and integrated city projects such as Lusail City exemplify Qatar’s ambition to develop master-planned urban centres that emphasise sustainability, cutting-edge technology, and a high standard of living.

Legislative efforts to open the real estate market to foreign buyers have energised demand for properties in specific freehold areas. Luxury developments and integrated city projects such as Lusail City exemplify Qatar’s ambition to develop master-planned urban centres that emphasise sustainability, cutting-edge technology, and a high standard of living.

This planned city north of Doha showcases innovations in energy management, urban mobility, and architectural design. Another major locus of real estate dynamism is Education City, which hosts world-renowned universities and research institutions and has spurred demand for quality student housing, commercial facilities, and residential areas that cater to a cosmopolitan population.

Qatar’s tourism sector continues to evolve, supported by high-profile conferences, cultural festivals, and additional sporting events that attract global visitors. The hospitality market has therefore performed strongly, with hotels, serviced apartments, and short-term rentals all benefiting from the country’s drive to expand its global profile.

As Qatar moves forward with its “Vision 2030,” a framework meant to further diversify the economy and modernise the country’s infrastructure, the real estate sector is expected to remain a key channel for foreign investment.

Egypt: A market of contrasts

Egypt stands as one of the largest and most populous Arab countries, making its real estate market a subject of keen interest for local as well as international investors. Even in the face of currency devaluations and inflationary pressures, Egypt’s property sector has shown remarkable tenacity.

The Aqarmap real estate index reported a rise of 39.3% in property prices in the first quarter of 2024, building upon a 22.3% increase in 2023. This trend reflects the gap between a growing need for housing and the available supply in a country where the population now exceeds 100 million.

Legislative changes that loosened restrictions on foreign land ownership have played a significant part in sustaining market momentum. Foreign investors keen on affordable entry points see Egypt as an opportunity, especially in emerging areas of New Cairo, the coastal city of Alexandria, and new resort developments along the Red Sea.

On the other hand, the devaluation of the Egyptian pound has weakened domestic buying power, leading to disparities in who can afford property. Despite these currency-related challenges, the sheer scale of demand—driven by high birth rates, continued urban migration, and government-led infrastructure projects—points to steady growth over the long term.

Initiatives such as the development of a New Administrative Capital and expansion along the Suez Canal corridor serve as examples of Egypt’s commitment to reshaping its urban landscape.

Trends shaping the future

Across these diverse markets, several emerging trends promise to influence real estate trajectories in the Middle East. One prominent theme is the focus on luxury real estate. Dubai, for instance, reported a surge in high-end property transactions by 62% during 2024, with prices per square foot often topping AED 3,200.

Upscale developments in Saudi Arabia resonate with affluent buyers who favour opulent villas, advanced security features, and lifestyle amenities. The increased flow of expatriates and tourists, along with relaxed ownership regulations, further supports this segment.

Sustainability and technology-driven innovations are increasingly integral to how Middle Eastern cities are being designed and managed. Projects like Saudi Arabia’s NEOM and Abu Dhabi’s Masdar City highlight the region’s determination to pursue green building standards, advanced energy solutions, and smart city technologies.

The goal is not merely environmental responsibility but also the attraction of global investors who integrate environmental, social, and governance (ESG) principles into their portfolios. Meanwhile, local authorities are encouraging sustainable construction by implementing stricter building codes and providing incentives for LEED-certified developments.

The hospitality and tourism sector has also regained momentum, with short-term rentals becoming more popular in places like Dubai, Riyadh, and Doha. The occupancy rates in short-term rental properties saw an upswing, especially as global travel curbs eased and the region continued to host marquee events and conferences.

Regulatory frameworks in the UAE and Saudi Arabia have introduced guidelines for short-term rental platforms to ensure quality control, safety, and taxation compliance, which in turn strengthens investor and tenant confidence.

Further boosting market vibrancy is the rapid adoption of technology in real estate services. Investors and potential buyers can now conduct virtual tours of properties, complete remote paperwork, and make digital payments. Governments are likewise exploring blockchain solutions for property registration to enhance transparency and reduce fraud.

PropTech start-ups have proliferated, particularly in the UAE and Saudi Arabia, offering specialised platforms for property management, crowdfunding, and AI analytics that help developers optimise pricing strategies and building design.

Forecast for 2025

In 2025, the Middle East’s real estate market is expected to continue expanding. The UAE, with Dubai and Abu Dhabi at the forefront, may see price growth of between 5% and 8% for residential properties, with prime locations experiencing even higher margins due to sustained interest in luxury living.

Saudi Arabia’s drive to achieve “Vision 2030” milestones should reinforce the long-term trajectory of large-scale developments like NEOM and Qiddiya, drawing high-level corporate relocations and new waves of international tourists. Analysts project an annual growth rate of around 1.64% in Saudi Arabia’s residential sector, culminating in a market worth around USD 1.64 trillion.

Qatar’s Lusail City and other major projects tied to Qatar National Vision 2030 will continue attracting both FDI and residents seeking modern, amenity-rich neighbourhoods. The country is keen to preserve the momentum generated by the FIFA World Cup 2022, thus focusing on diversifying its entertainment, cultural, and business event offerings.

Even Egypt, despite its macroeconomic challenges, is on track for steady growth thanks to an ever-present need for housing in a rapidly increasing population. Foreign investors see a combination of comparatively low costs, reform-driven policy shifts, and a robust tourism scene as incentives to enter Egypt’s market.

Although macroeconomic factors, particularly oil prices and global monetary policies, could influence the pace of real estate transactions, collective confidence in the Middle East’s prospects remains evident. As other regions grapple with uncertainties tied to inflation, recession risks, or political upheavals, the Middle East stands out for its strategic policies aimed at diversification and openness to foreign capital.

Strategic considerations for investors

Investors interested in the Middle East’s property market can consider various strategies. One approach is to diversify across multiple countries and asset classes, spreading risk through exposure in luxury and mid-tier residential developments, office complexes, hospitality ventures, and retail.

Another consideration is to stay consistently informed about policy changes, as decisions around foreign ownership, visa regulations, and tax incentives can significantly shift market dynamics quickly.

Sustainability is growing in importance, and developments that meet or exceed green building standards tend to attract a more globally conscious clientele and are seen as future-proof in an era increasingly shaped by ESG considerations.

Technological advancements should also feature prominently in any long-term plan, as blockchain-based property transactions, AI-driven analytics, and the rise of PropTech startups will reshape how developers, brokers, and buyers interact.

While certain geopolitical factors could always alter the outlook, the overall expectation is for a steady march of growth, backed by megaproject announcements, progressive economic policies, and the region’s robust cultural and commercial ties to both East and West.

From the attention-grabbing developments in Dubai and Abu Dhabi to the transformative giga projects in Saudi Arabia, from the post-World Cup expansions in Qatar to the large-scale housing demands of Egypt, the region presents a vivid tableau of real estate evolution. Governments have embraced modernisation, sustainability, and international best practices at a scale that few other parts of the world can match.

The outlook for Middle Eastern real estate remains optimistic, underpinned by a constellation of positive indicators: supportive government policies encouraging foreign investment, strong population growth in key cities, ambitious infrastructure ventures that connect and enhance urban environments, and ongoing technological leaps shaping how property is built, marketed, and managed.

Sustainability efforts are gaining traction in every major market, a direction that not only addresses environmental concerns but also aligns with the preferences of a growing class of conscientious global investors.

Potential geopolitical developments and external economic variables still present challenges, but the region’s dedication to resilience and long-range planning has repeatedly proven its capacity to overcome hurdles.

As a result, analysts envision more record-breaking transactions, the arrival of cutting-edge architectural marvels, and deeper commitments to green, tech-savvy communities across the Middle East.

This blend of innovation, strategic foresight, and cultural evolution keeps the Middle East firmly in the global spotlight. From ultra-luxury beachfront towers in Dubai to futuristic urban experiments in Saudi Arabia’s NEOM, and from the growing modern cityscapes of Doha to the sprawling developments around Cairo’s New Administrative Capital, the market continues to provide fertile ground for visionary developers, astute investors, and an increasingly sophisticated pool of local and international residents.

As 2025 unfolds, these intersecting forces are set to shape one of the most dynamic and resilient real estate arenas on the planet, ensuring that the Middle East remains a critical focus for global property stakeholders well into the future.

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Following a comparison of the development of the stock markets in South Africa, Russia, and Qatar during their respective hosting of the mega football event in 2010, 2018, and 2022, the firm came to this conclusion.

The analysis projects that Saudi Arabia’s hosting of the FIFA World Cup in 2034 will have a major economic impact and accelerate the growth spurred by “Vision 2030,” a national initiative to diversify the Kingdom’s economy away from its reliance on oil.

“The decision for the host is usually made roughly seven to 12 years in advance. Post announcement, equity markets generally performed well with South Africa showing the strongest return, followed by Qatar and Russia. Therefore, we expect the Saudi market to outperform emerging markets in the coming period,” SNB Capital said, as reported by the Arab News.

“FIFA 2034 also reflects positively on the equity market, leading to positive market return, valuation expansion as well as resilience and quick recovery from any potential global market headwinds,” it added.

Over the next one to four years, Saudi Arabia will reportedly invest heavily in infrastructure, such as stadiums, transit systems, and urban growth. The Kingdom’s steel, cable, and cement companies will be among the main beneficiaries of this time in the infrastructure and construction sectors.

“Construction firms will profit from these projects as they approach completion in the medium term, which is four to eight years. Over the next eight to twelve years, the tourism and hospitality industries will benefit, and the retail sector—which includes luxury stores and vehicle rental agencies—will also be in a strong position to gain,” SNB Capital noted.

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Kuwait Petroleum Corporation and state-owned QatarEnergy’s leading executives signed the long-term LNG sales and purchase deal in Kuwait. In January 2025, deliveries will begin, according to KPC CEO Sheikh Nawaf Al-Sabah.

Speaking about the agreement, Reuters said in August 2024 that Qatar Energy and KPC were in negotiations.

Kuwait, a significant oil producer and member of OPEC, has increased its reliance on imported gas to cover its power needs, particularly during the summer when air conditioning systems use more energy. KPC’s objective includes increasing its gas output in addition to aiming for larger oil production capability.

Due to a break in the local gas supply, Kuwait saw its second round of planned power outages this summer, even though officials had stated there would be no more after the first round in June 2024. Summertime highs can surpass fifty degrees Celsius, or twelve degrees Fahrenheit.

According to Sheikh Nawaf, the agreement will have “a crucial role in electricity generation in Kuwait.”

He said the agreement was secret and failed to share its amount.

This year, Qatar announced plans to expand its North Field project even further, solidifying its position as one of the leading LNG suppliers globally. By 2030, the project will increase the North Field’s LNG output from 77 mtpa to 142 mtpa.

According to QatarEnergy CEO and state minister for energy, Saad Al-Kaabi, some of the LNG from the new supply agreement for Kuwait may come from Qatar’s current output and some from the North Field expansion project. The port of Al Zour in Kuwait will receive it.

In 2020, Kuwait and Qatar agreed to deliver 3 million tons of LNG annually for 15 years starting in 2022, aligning with the current agreement.

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