Doha Emerges As Leading Wealth Destination

Doha, Qatar: Doha is becoming a magnet for global wealth as Qatar’s resilient economy, cross-sector opportunities and forward-thinking government put it on the radar of international real estate investors, according to the latest Doha Wealth Hub Series report by global property consultancy Knight Frank. 

The report is the first of a three-part series looking at real estate markets in emerging wealth hubs in the GCC such as Riyadh and Jeddah.

The Qatari capital’s rising prominence is grounded in robust economic fundamentals and long-term national planning. Since the introduction of the 2030 Qatar National Vision in 2018, the country has been supercharged by an estimated $330bn in infrastructure and real estate investment. 

The recent launch of the government’s third National Development Strategy (2024-2030) signals a clear intent to diversify the economy further, attract foreign direct investment and strengthen Qatar’s global competitiveness.

Adam Stewart, Partner, Head of Qatar, said: “The public sector generally drives demand in Qatar’s office market and 2024 saw a surge in leases by government ministries and state-owned enterprises in prime business districts. In Doha, Qatar Airways is planning to relocate its headquarters to the new $5.5bn Msheireb Downtown this year, solidifying the area’s reputation as a premium business hub.”

West Bay-Prime remains the most expensive office location, with monthly rents of QR105 psm, followed by Marina District (QR97 psm), which is attracting multinational firms from the finance, technology and professional services sectors.

Office growth is underpinned by Qatar’s investment in world-class infrastructure, including the $36bn Doha Metro and $16bn Hamad International Airport, a global transit hub offering direct flights to more than 180 cities.

Faisal Durrani, Partner – Head of Research, MENA, said: “Despite its rapid development, Doha maintains low traffic congestion levels relative to many other global hubs, with ongoing investments in public transportation and smart city solutions preserving this enviable status. These qualities, combined with its cultural vibrancy, economic ambition and liveability, reinforce Doha’s growing status as a forward-looking global city.”​​​