Alfardan Towers

Qatar Real Estate Market in 2021: Implementing our greatest lessons from 2020

2021 has already set the tone for a positive year ahead. For Qatar, an optimistic outlook with country-wide roll-out of the COVID-19 vaccine, and rapid preparations underway for the FIFA World Cup Qatar 2022™ have sparked a revival in economic activities across industries.

While we welcome positive changes ahead, the past year has uncovered major lessons that are key in mapping out plans for the future. So, what are our greatest lessons from 2020? And how do we implement them moving forward?

A shift in consumer preferences

A shift in consumer preferences have revealed an increased demand for open spaces. The housing environment has shown to significantly impact a person’s well-being during the lockdown. Many existing and potential tenants are now looking for a property that comes with a lifestyle aspect where people can have access to a balcony, terrace, private garden and pools or other outdoor facilities that offer the chance to sustain their lifestyle beyond lockdown or any other similar crisis.

Overall, the market also witnessed customer inclination towards short term leasing contracts. The impact of COVID-19 on the economy and its associated difficulties on the workforce increased the demand for short-term stay.

Commercially, new trends are emerging with some companies adopting new hybrid office models, resulting in demand for customised and flexible office solutions. Embracing this new wave, Alfardan Properties offers its commercial tenants tailored solution with Workinton Qatar, a subsidiary of the company, specialising in serviced small-office spaces. They can be reached at their branches in Burj Alfardan in Lusail, Burj Al Gassar in West Bay and Alfardan Centre on Grand Hamad Street.

Moving to 2021, these changes imply a need to adapt to the emerging preferences and offer dynamic solutions that meet tenants’ requirements.

Stressing the importance of health and wellness

Covid-19 has taught us the importance of washing our hands and wearing our masks. But more importantly, it has taught us how connected and stronger, we are as a community. With a keen understanding of this spirit, and bearing our tenants’ best interests in mind, we introduced a string of precautionary measures across Alfardan Properties commercial and residential developments via a crisis committee. We acted swiftly to install sanitisation tunnels and document sanitisers at entryways; full-body disinfection machines; hand sanitiser dispensers at various locations; and carried out regular disinfection of floors and common areas. These measures have allowed us to keep our community safe and a new level of hygiene, safety, and health have been adopted. Moving into the new year, our efforts are twofold continuing a policy of open communication with our tenants and working closely with government entities as we continue to be proactive in keeping our community safe.

Constantly adapting, continuously upgrading

As a real estate developer that offers tenants more than a home – a lifestyle trademarked ‘Alfardan Living’, we remain focused on improving our facilities that cater to an elevated lifestyle with an aim to preserve it despite challenges. Between safety, security, privacy and wellness, Alfardan Properties has been vigilant in enhancing processes to satisfy our tenants’ needs. In some cases, this even extends to accommodating renovations as per tenant requests.  One such instance was including an in-house gym, pool and workspace at one of our villas at Alfardan Gardens to allow our tenants to work from home without compromise on their lifestyle. Other examples include adding to our existing facilities, such as the extension of the Padel Court at Al Gassar Resort, as a new fitness option, open-air fitness classes across residential properties and exclusive privileges that seek to offer tenants an even more distinctive lifestyle.  

What’s next?

With the countdown to the FIFA World Cup on our calendars and the new opportunities that have arisen out of an optimistic socio-political climate, Qatar is now centre-stage to host one of the greatest events in sports. Development at a much rapid pace, new suppliers, organisations, and events will soon grace the country in the coming months and drive-up economic activity.

Our greatest lessons come from times of crisis and we kick off the year into 2021 with our best foot forward, maintaining open communication channels, adopting constant safety standards, and tuning in closely to our tenants’ needs, to sustain our learnings in the long run.

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