#Qatar's real estate market faces reality check ahead of World Cup | Reuters

Qatar's real estate market faces reality check ahead of World Cup | Reuters:

Qatar’s Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty.

The office tower, now a familiar part of the capital’s high-rise skyline, has run foul of what real estate brokers, bankers and analysts say is an oversupplied Qatar property market ahead of the 2022 World Cup that mirrors a real estate downturn in the wider Gulf region after a drop in oil prices.

Qatar has the added challenge of a diplomatic, trade and transport boycott imposed on the Gulf Arab state by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt over allegations that Doha supports Islamist militants, a charge Qatar denies.