The emergence of new smart cities in Qatar as part of urban development is \u201ccontributing heavily\u201d to the advancement of real estate to \u201crecord levels\u201d even on a global scale, a new report has shown.
\nThe new urban communities such as Msheireb Downtown Doha, Lusail City\u00a0 and The Pearl-Qatar are witnessing a \u201cpowerfully built\u201d infrastructure, in addition to the \u201csubstructure technologies\u201d that equip the smart cities with competitive qualities, Ezdan Real Estate noted.
\nSmart city models are becoming a \u201ctangible reality\u201d in Qatar, it said.
\nLusail now is known as the \u2018City of Future\u201d in Qatar. It is currently being developed and equipped with smart infrastructure at a cost of $45bn, Ezdan noted.
\n\u201cThe project provides a high-tech operating environment that includes telecommunications networks, to ensure the provision of advanced services,\u201d the report said.
\nThe report pointed out that smart cities are fast becoming a growing global trend. They seek to \u201cintegrate digital technology into real estate management in order to improve the efficiency of operations and services, promote diversity and sustainable economic growth, and enhance public services and quality of life for citizens, expatriates and visitors in Qatar.\u201d
\nOn real estate activities in Qatar between December 29 and January 2, the report cited data from the Ministry of Justice\u2019s Real Estate Registration Department and said some 51 property sale transactions were concluded at an approximate value of QR467mn.
\nThese were distributed across seven municipalities in Qatar: Umm Salal, Al Khor, Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen and Al Wakrah.
\nThe transactions included \u201cland lots, buildings, multi-use buildings, multi-use land lots, and residential premises.\u201d
\nDoha topped in terms of deal value through the sale of a residential premise in Al Messila spreading over 19,225 sq m at a price of QR882\/sq ft, totalling QR182.5mn.
\nDoha Municipality also ranked second in terms of value through the sale of a mixed-use land plot spreading in excess of 12,541 square meters in Lusail, worth QR87.7mn, at QR650\/sq ft.<\/p>\n","protected":false},"excerpt":{"rendered":"
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