GCC real estate markets in general can be expected to begin moving out of the bottleneck in the fourth quarter of this year and kickstart growth from 2013, said an industry expert.

“Now is the ideal time to review and improve industry practices and adjust to market realities. Qatar and the rest of the GCC states have what it takes in terms of infrastructure and finances to engineer a rally and maintain its global leadership in the real estate business,” said Masood Al Awar, CEO of Tasweek Real Estate Marketing & Development, an advisor and solutions provider serving the real estate markets.

Al Awar was discussing market fundamentals and movements across the Gulf at Cityscape Qatar 2012, a real estate event running from today (May 23) to May 25 at the Doha Exhibition Centre.

He reviewed real estate statistics from 2011 to the present and made market forecasts. He analyzed market fundamentals driving the need to adapt to the paradigm shift from a supply-driven to a demand-driven market.

The Tasweek official also encouraged participants to set standards for more reliable market statistics and support enhanced transparency and consistency in data and market analyses.

A speaker for major real estate events in Abu Dhabi and Dubai, Al Awar also provided snapshots of the Doha, Jeddah, Abu Dhabi and Dubai markets.

Over 2,000 international participants are already registered to attend Cityscape Qatar 2012, which will feature more than 200 leading developers, architects and consultants. Tasweek will interact with some of the region’s leading industry players and decision makers to discuss how to enhance the Gulf’s business potentials. – TradeArabia News Service