Qatar World Cup hospitality packages industry registered healthy growth in the first quarter (Q1) of the year as the country prepares to host the FIFA World Cup 2022 in just a few months. The hotel supply pipeline is expected to deliver more than 12,000 keys to the opening of many new hotels this year, according to a recent report released by ValuStrat, a housing consulting firm.
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The report noted that 12,250 keys are on track for the remainder of 2022. As per Qatar Tourism, hospitality stock is estimated at 29,386 units 21,689 hotel keys, and 7,697 hotel rooms by the end of 2021. The total supply of serviced houses and hotels (including unmarked projects) is predicted to exceed 10,000 keys. Hilton Doha Hampton Old Salata and Central Inn Al Sadd have opened and added 500 keys to all offers.
Rabban Suites West Bay and Swiss Belhotel Doha were renamed Voco Doha West Bay Suites and AMT Mena, respectively, according to a first-quarter real estate market report by ValuStrat. In terms of hotel operations for the year to date (YTD) March 2022, the number of immigrants includes 315,831 visitors, an increase of 691 percent compared to the same period in 2021. Asia and the GCC have provided 60 percent of the total number of foreign visitors.
Accommodation between hotels excluding keys used for confinement was 58 percent since March YTD 2022, down from 5 percent year on year. The Daily Rate (ADR) rate for hotels and hotel flats stood at QR459, up 14 percent in one year. The Supreme Committee for Delivery and Legacy has announced that 130,000 rooms are available to accommodate an estimated 1.5 million fans of the Qatar World Cup 2022, the report said.
In February 2022, according to a ValuStrat study, stocks of hotels and hotels exceeded 30,000 keys and the 2022 pipeline was upgraded to 13,300 keys. In terms of residential performance, the ValuStrat quarterly review noted: The average monthly rent for apartments is estimated at QR9, 000, which records growth of 3.3 percent per quarter, and 2.5 percent per year. Compared to Q4, 2021, the average rental rate in the housing index increased by 3.8 percent.
The average rent asking for villas increased slightly by 0.6 percent per quarter. Residential accommodation is estimated at 80 percent, due to short-term lease by the FIFA World Cup 2022 Executive Committee and the severance of demand from companies looking for accommodation for workers, he added. Qatar's housing estimate is estimated at 308,000 units plus 700 by Q1, 2022. Two The Pearl residential projects comprising a tower, and seven Lusail buildings, have been completed adding 600 apartments.
Ezdan Real Estate has announced the launch of 4,000 units in all eight combinations in Al Wakrah municipality this year. Barara Real Estate has announced the hiring of the Madinatna project, which has 6,780 flats in Al Wukair in the Executive Committee for six months in 2022, while Qetaifan Island North launched the Phase 3 sale, which includes 40 residential plots. Dar Al Arkan, a Saudi engineer, has introduced the Les Vagues (70 flats) in Qetaifan Island North to launch the Q2, 2022 development post.
As of the first quarter of FIFA World Cup 2022, ValuStrat Price Index (VPI) Housing stood at 64.9 points and saw a slight increase of 0.2 percent quarterly but still 2.3 percent lower than Q1, 2021. VPI is a based indicator at baseline prices 100 points from Q1 2016. The flats showed an inflation target of 1.8% compared to Q4, 2021. For more to know about Qatar World Cup tickets Click here.
Lusail inflation showed the highest quarterly and annual increases of 5.3 percent and 2.9 percent, respectively. Pearl also had a modest quarter growth of 0.2 percent. The sub-market of the villa had a decline in price levels of less than 0.5 percent compared to Q4, 2021. This indicates that the villa market is stable. Large numbers of homes living in West Bay Lagoon and Al Dafna have risen between 4 and 14 percent.
The villas of Ain Khaled / Abu Hamour, Umm Salal Ali, and Al Wakrah collections did not change quarterly. Al Thumama and Old Airport saw the highest quarterly decline from between 3 and 4 percent. The total housing yield increased to 5.9 percent from 5.8 percent in Q4, 2021 driven by residential housing yield growth (8.2 percent). The average rental price is estimated at 18.6 years in apartments, 12.4 years in flats, and 21.7 years in apartments.
The Labor Conference reviews labor welfare laws
The 8th Workers and Workers Conference reviewed the development of labor laws in Qatar to protect workers’ rights highlighting the efforts of government and private companies to ensure a decent life for them. The conference was held under the leadership of Labor Minister H E Dr. Ali bin Saeed bin Smaikh Al-Marri and supported by the Qatar Chamber, hosted by Dar Al Sharq under the theme Protecting Workers Rights, Observing Outside and the Global Impact of Qatar World Cup 2022 at Bin Jelmood House at the Msheireb Museums yesterday.
The conference was attended by the Turkish Ambassador to Qatar H E Dr. Mustafa Goksu; Qatar Chamber First Deputy Chairman Mohamed bin Twar Al Kuwari, Qatar Lawyers Association Deputy Chairman Sheikh Dr. Thani bin Ali Al Thani; Dar Al Sharq Deputy CEO Jaber Salem Al Harami, and other officials and guests. At this conference the 7th edition of the Workbook entitled Historical Evidence was presented at the conference.
The book is a series that examines the reports of international organizations and quotes evidence from European parliaments, newspapers, the media, and international organizations praising the progress made in Qatar over the past decade on the welfare of workers. Addressing the opening ceremony, Jaber Salem Al Harami said ahead of the FIFA World Cup 2022, the 8th Labor and Industry Conference, which Dar Al Sharq has been holding since 2014 under a strategic partnership with the Department of Labor, will be held as an organization accredited by any institution in the private sector.
Since Qatar won the right to host the FIFA World Cup in 2010, the development wheel has grown rapidly in all sectors with a special focus on the legal and legal aspects, which are prioritized by decision-makers, Al Harami said. He said Qatar was one of the developing countries with a strong legal system, laws and regulations, and the introduction of new laws that were in line with the country's rapid development.
The rules and regulations that were amended or introduced to ensure a fair workplace, security, safety, salaries, salary transfers, and employee salaries, among others, reflect the true will and strong determination of the authority to change for the better, said Al Harami. Mohamed bin Twar Al Kuwari said the summit was organized at a time when Qatar is at the forefront of the world's most respected international human rights watchdog. For more to know about Football World Cup tickets Click here.
He said the labor reforms in Qatar were commended by all international partners, observers, the European parliament, and international organizations that made the country a pioneer in the sector in the region. Qatar is focused on providing safe and decent work for migrant workers following international agreements and conventions by making extensive changes to protect workers’ rights and ensure a decent life for them, Al Kuwari said.
Head of Marketing and Communications at Msheireb Properties Dr. Hafez Ali said the conference highlighted the efforts of Qatar, government institutions, and the private sector to protect workers' rights. Msheireb Properties is committed to workers' rights and ensures their safety as one of their priorities. In this context, it laid a clear foundation, in full compliance with the laws applicable in Qatar, and considered the various rules adopted by the International Labor Organization in this regard, Ali said.
There were two discussions at the conference. The first session entitled Legislative and Legal Development is the Protection of Worker Rights’ was led by Hawkama CEO Dr. Mansoor Al Saadi. Nominees include Qatar Lawyers Association Deputy Chairman Sheikh Dr. Thani bin Ali Al Thani, Health and Safety Manager Supply Chain Management (SC) Abdulla Al Bishri, and Assistant Professor of Qatar University Dr. Abdul Mutalib Siddig Makki.
The second session entitled ‘Employee Status of Community Leaders and Representatives was attended by leaders of the foreign community. Nominees include Mohamad Ramadan, Nepalese community representative Saheed Kazeem, African Community representative, and Amin Rasul, Bangladesh Community representative.
Conference highlights achievements in Qatar's labor force, Department
The Department of Labor said the 8th Labor and Labor Conference organized by Dar Al Sharq was an opportunity to celebrate Qatar's achievements in recent years. It is the culmination of a process to transform and develop the labor market and create a modern and competitive labor market to increase investment and provide an attractive workplace for skilled workers.
The Minister, in a statement, said it was in line with the National Development Strategy based on the Qatar National Vision 2030 which aims to transform Qatar into a developed country capable of achieving sustainable development, in a society that promotes values, equality, and respecting the human rights to protect the interests of all stakeholders and to create a balance between the rights of employers and employees.
The Department commended the efforts of Qatari employers and companies and their willingness to implement constructive legislation and cooperation with the Department, which has been constantly developing its services to improve investment, support competition, and increase the contribution of private companies to the economy, in line with the National Development Strategy of Qatar.
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