The Middle East is becoming a bigger focus for Knight Frank, a renowned independent worldwide property consultant with its headquarters in London. This comes as the company just launched a new headquarters in Doha, Qatar, as the nation gets ready to host the prestigious FIFA World Cup tournament.
For investors and developers, the office will offer specialised consulting assistance and transactional services. However, it will also offer these services to those who own and use commercial real estate in several of Qatar’s key industries.
ATTRACTIVENESS OF GOVERNMENT-LED INVESTMENT INTO QATAR
When announcing its entry into Doha, Knight Frank noted that it is an "extremely exciting time" for Qatar and Knight Frank too. This is particularly true considering the recent influx of capital into the nation for projects involving infrastructure development. The increased optimism for Qatar's continued, robust economic growth over the coming ten years is also a result of the government's expenditure commitments. This heavy expenditure comes as part of Qatar's 2030 vision with efforts to diversify Qatar’s economy away from a dependence on its oil and gas sectors.
Equally, US$45 billion will be spent by 2030 to expand Qatar’s tourism market. This in particular is an important part of Qatar’s National Tourism Sector Strategy.
Adam Stewart, Partner - Head of Qatar, will oversee operations. Adam has over 15 years of real estate expertise, so the new headquarters has strong leadership to oversee its operations.
STRATEGIC TIMING OF THE NEW KNIGHT FRANK HEADQUARTERS
With over 1.2 million football fans being drawn to Qatar for the upcoming FIFA World Cup, the opening of the new Knight Frank Headquarters comes at an ideal time. This is a period with heightened demand for Qatar’s hospitality and lodging services. So along with the extensive media exposure, these factors will act as a key catalyst for future growth and demand in Qatar’s real estate industry. They will equally allow Knight Frank to be able to optimally leverage these attractive market conditions.