Doha, Qatar: The total supply of hotel rooms in Qatar has surpassed 38,000 keys last year and is projected to be around 42,700 keys with completion of various projects in this year.
New hotel room supply continues to trickle into the market, with over 1,000 keys added in 2024. At the end of 2024, Qatar’s total quality room supply stood at 38,100 keys, 60% of which were internationally branded hotels. By the end of 2027, the quality room supply in Qatar is expected to reach 42,700 keys, according to the recent report by global real estate consultancy, Knight Frank.
Doha continues to evolve as one of the Middle East’s most attractive urban centres, offering a compelling blend of safety, accessibility and affordability. Ranked among the safest cities globally, it provides residents with a strong sense of security and stability. The city’s relatively moderate cost of living compared to other international business hubs also adds to its appeal.
Qatar’s hospitality sector is undergoing significant transformation. Qatar’s tourism sector grew by 31% to QR81.2bn ($22.3bn) in 2023, representing 10.3% of total economic output. By 2034, this contribution is projected to increase to QR135.2bn ($37.1bn), accounting for 12.8% of GDP. The World Travel & Tourism Council predicts international visitor spending will rise to QR116bn ($31.9bn) by 2034.
The country has also improved its maritime infrastructure to welcome international cruise lines, and introduced visa-free entry for nationals from 88 countries.
The total number of international visitors to Qatar was up by 25% year-on-year to 5.08 million in 2024, boosted by major events like Formula 1 and ATP tennis as well as cultural attractions and lifestyle destinations such as The Pearl and Lusail Boulevard.
In the residential sector, prime locations continue to command and hold high values, supported by steady demand for premium homes from both domestic and regional buyers, the report further noted.
The total value of residential sales in Qatar last year stood at $3.2bn. Among villa locations, Abu Hamour recorded the highest prices at QR8,587 psm, followed by Al Thumama (QR7,500 psm) and Al Kheesa (QR7,000 psm).
Apartment prices averaged QR12,625 psm in 2024, led by Qanat Quartier (QR13,977 psm) and The Waterfront (QR14,300 psm), reflecting strong demand for luxury waterfront living.
The Marina District (QR13,600 psm) remains a prime location, attracting both investors and occupiers, while Porto Arabia and The Pearl Island (QR11,834 psm) offer more affordable options within The Pearl.
The retail sector too has played a significant role in driving economic growth. Shop Qatar, launched in 2017, is the country’s largest shopping festival and a key part of the government’s diversification efforts. Events like this have stimulated growth in the retail sector by boosting tourism and consumer spending.
Guided by the Qatar National Vision 2030, the Qatari government has ramped up its efforts to ensure this economic transformation is sustainable by diversifying the local economy and reducing its reliance on hydrocarbons.
Qatar currently has 115 LEED-certified projects, totalling 22.6 million sq ft. This positions Qatar among the leading nations outside America for schemes boasting the US Green Building Council certification.
