Qatar set to deliver nearly 7,000 hotel keys during FIFA World Cup
Nearly 5,000 to 7,000 hotel card keys are estimated to be handed for the FIFA World Cup Qatar in November 2022. Hotels and serviced rooms are anticipated to hand out around 37,000 keys, or 45,000 rooms throughout the World Cup.
Request for World Cup housing is going to take over the market in the approaching months, as stated by a senior official throughout an event yesterday.
Cushman and Wakefield Qatar, an international real estate consultancy held a real estate market up-to-date conference and talked about Qatar’s third quarter (Q3) real estate market evaluation. The event also witnessed a panel argument labelled ‘What about the After Party’ – Qatar Real Estate Post-FIFA 2022.
Talking about the conference, Johnny Archer, Manager, Consulting & Research at Cushman & Wakefield Qatar asserted that “We estimate that between 5,000 and 7,000 keys may be complete in time for the FIFA World Cup in November 2022. International supply delays over the past two years have delayed the opening of a number of hotels that were due to complete in 2021 and 2022.”
He continued: “We estimate that in the region of 45,000 rooms/37,000 keys (hotels, hotel apartments and serviced apartments) will be delivered by November 2022. Tournament accommodation will be bolstered by cruise ships, camping facilities, apartments and villas”.
In line with the Q3 report: “In August 2022, the supply of hotel keys in Qatar reached 30,847, of which 75 percent are hotel rooms and 25 percent are hotel apartments. Of the available hotel rooms, 65 percent are classed as 5-star with less than 10 percent classed as 3-star or below. As the FIFA World Cup in November 2022 approaches, we expect new supply to accelerate”.