{"id":2237,"date":"2019-02-18T10:07:32","date_gmt":"2019-02-18T10:07:32","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=2237"},"modified":"2021-06-04T14:16:53","modified_gmt":"2021-06-04T07:16:53","slug":"has-qatar-built-too-much-for-the-2022-world-cup","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/has-qatar-built-too-much-for-the-2022-world-cup\/","title":{"rendered":"Has Qatar built too much for the 2022 World Cup?"},"content":{"rendered":"<figure id=\"attachment_2238\" aria-describedby=\"caption-attachment-2238\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-2238\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/03\/shutterstock_1311838184-compressor.jpg\" alt=\"\" width=\"1000\" height=\"683\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1311838184-compressor.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1311838184-compressor-300x205.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1311838184-compressor-768x525.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-2238\" class=\"wp-caption-text\">The Khalifa International Stadium, a major venue of the 2022 FIFA World Cup, and Aspire Tower in Doha, Qatar. Fitria Ramli\/Shutterstock<\/figcaption><\/figure>\n<p>Qatar\u00a0is likely to be inundated with residential and commercial projects\u00a0in anticipation of the 2022 football tournaments despite dampened demand from overseas investors\u00a0and locals, market observers tell\u00a0<a href=\"https:\/\/www.reuters.com\/article\/us-qatar-real-estate-analysis\/qatars-real-estate-market-faces-reality-check-ahead-of-world-cup-idUSKCN1Q4174?il=0\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p>\u201cIt\u2019ll be interesting to see what happens when they (real estate prices) are really put under pressure in a year\u2019s time, when a lot of new supply hits the market,\u201d Johnny Archer, associate director of Doha-based real estate firm DTZ, told Reuters.<\/p>\n<p>The shunned Arab country is poised to experience an increase in residential space by about 50 percent and office space by 40 percent in the next three years ahead of the World Cup, a DTZ report indicated.<\/p>\n<p>But even as Qatar looks forward to the future, the country is still reeling from punitive trade and economic measures meted out by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt on charges that Doha supports Islamic fundamentalists.<\/p>\n<p>Home prices have been down around 10 percent from the beginning of the blockade. \u201cQatar\u2019s property sector has been one of the main casualties from the blockade that was imposed in mid-2017,\u201d Jason Tuvey, an economist at Capital Economics, told Reuters.<\/p>\n<p>Qatar\u2019s tainted international standing has put off foreign investors, a shortfall the government has attempted to offset with the loosening of\u00a0investment laws last month, allowing\u00a0foreigners full ownership of companies.<\/p>\n<p>Property analysts are worried the government has no long-term plans for the\u00a0infrastructure developments gazetted for the World Cup beyond 2022.<\/p>\n<p>\u201cThere\u2019s too much uncertainty as to where that demand specifically is going to come from,\u201d Richard Rayner, who surveys property for DTZ, told Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Against the Arab blockade, FIFA&#8217;s chosen host country may not sustain foreign demand for homes and offices<\/p>\n","protected":false},"author":2,"featured_media":19944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[],"class_list":["post-2237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","news_country-rest-of-asia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Has Qatar built too much for the 2022 World Cup? 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