It was in 2008 that Euromoney magazine released a report under the title: “Qatar: a burgeoning real estate sector”. “The boom in Qatar real estate market that has been an inevitable by-product of the spectacular growth of the economy in recent years and the surge in demand for residential as well as commercial property that has emerged as a result,” read the subhead for the report, which attributed the “boom” to several success factors; in June 2004, Qatar was among the first to overturn 1963’s Law number 5 – which prohibited non-Qataris from owning land – and allow non-Qataris to own property in Pearl Island, West Bay Lagoon, and Al Khor resort.

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