With the 2022 FIFA World Cup and other projects underway, Qatar is making a name for itself as a top business and tourism destination. Its rich natural resources have also given rise to massive infrastructure developments. In fact, it is one of the richest countries (per capita) in the world. Its economy is driven by oil, but it is expanding into sectors like real estate and construction, education and tourism.
Commercial space for rent is available across the country in both commercial and retail. Depending on your needs, you can choose a fully furnished or unfurnished office space. The price of a commercial space for rent can vary greatly, but you should always negotiate to get the best deal.
The demand for commercial property is high, particularly in the retail and office sectors. This is because of the growth in population, increased consumption and a strong local economy. The retail sector accounts for 24% of the total market value, while the office sector contributes 8%. The demand for both sectors is expected to continue in the coming years.
Although the number of tourists visiting Qatar has been reduced since the outbreak of COVID-19, the industry is recovering. The tourism sector is expected to grow significantly in the next few years. This will help boost occupancy rates and hotel revenues. The growth in the tourism sector will also support other sectors in Qatar, such as education and real estate.
Despite the high salaries offered by Qatar, it is not an inexpensive place to live. The cost of living is higher than most other Gulf states, and prices for food, clothes, transportation and utilities are often more expensive. Expats may find that they spend much of their income on housing costs and maintaining a car. Most employment packages include a housing allowance, but this can be limited, and it is essential to research the areas of Qatar that are most suitable for your lifestyle.
In addition to the high cost of living, there are many other costs that expats should be aware of when deciding to relocate to Qatar. Furniture, home accessories and electronics are all expensive in Qatar, and some items are not available locally. Additionally, car maintenance is expensive and petrol is highly priced. In addition, parking and speeding violations carry hefty fines.
Despite these challenges, Qatar remains an attractive location for business owners. Lucrative employment packages, the world’s highest per capita GDP and significant investment in infrastructure have made it an excellent choice for investors. Its proximity to other regional power players, the Middle East and Asia, makes it a competitive hub for global businesses. Commercial space for rent in Qatar