Press Conference of the General Authority for Regulating the Real Estate Sector – “Aqarat” for Signing Memoranda of Understanding with a Number of Strategic Partners

The Real Estate Regulatory Authority (RERA) held a press conference during which several memoranda of understanding were signed, in the presence of His Excellency Eng. Khalid bin Ahmed Al Obaidli, Chairman of the Authority. The meeting included the completion of the approval of several banks to activate the procedures for the real estate development escrow account for off-plan sales projects, protecting all partners’ rights. His Excellency Eng. Khalid bin Ahmed Al Obaidli emphasized that these partnerships are an important step toward achieving the Authority’s vision of regulating and empowering the real estate sector. He said:
“We are working with our partners to build an integrated system that supports sustainable investment and keeps pace with global developments, serving the national economy and contributing to the achievement of Qatar National Vision 2030.

It is worth noting that the RERA oversees the regulation and development of the sector to ensure its transparency and prosperity, in cooperation with relevant authorities.

A Memorandum of Understanding was signed with Ahli Bank regarding the activation of the escrow account.

In an official statement, Mr. Hassan Ahmed Al-Efrangi, CEO of Ahli Bank, said:

Ahli Bank is proud to be one of the first financial institutions to sign a Memorandum of Understanding with the RERA, reinforcing our commitment to supporting the path of economic progress. In the State of Qatar, the implementation of escrow accounts for real estate projects under construction is a strategic step toward enhancing investor protection, establishing transparency, and promoting regulatory excellence. This agreement contributes to strengthening confidence in the Qatari real estate market and consolidates Ahli Bank’s position as an ambitious future financial partner, committed to providing innovative banking solutions that empower real estate developers and support the sustainable growth of the State of Qatar’s economy, in line with its future vision.

A Memorandum of Understanding was also signed with Dukhan Bank regarding the activation of the escrow account.

Commenting on the launch of the “Real Estate Development Escrow Account” service, Mr. Ahmed Hashem, Acting CEO of Dukhan Bank Group, said:
“The launch of the Real Estate Development Escrow Account confirms Dukhan Bank’s leadership in adopting financial solutions that serve both the community and the real estate market. This account is not just a banking product, but a strategic tool that enhances buyer confidence, protects their rights, and motivates developers to adhere to the highest levels of transparency and approved implementation plans for real estate projects.”

He added: “We extend our thanks and appreciation to the Qatar Central Bank for its efforts and guidance that established the regulatory framework for this service, which formed the basis for its launch in partnership with the Real Estate Regulatory Authority. We are proud of this tripartite cooperation, which embodies the deep integration between the financial and regulatory sectors in the State of Qatar and is a fundamental pillar for establishing a safe and stimulating investment environment, in line with the goals of Qatar National Vision 2030.”

The Authority also signed a Memorandum of Understanding with the Investment Promotion Agency, aiming to establish a strategic partnership between the two parties for a period of three years, with the aim of promoting promising investment opportunities in the real estate sector and showcasing the competitive advantages that the State of Qatar offers investors. This step comes within the framework of supporting efforts to attract foreign direct investment and enhance the country’s position as a leading and ideal investment destination. Commenting on the signing of the memorandum, Sheikh Ali bin Alwaleed Al Thani, CEO of the Investment Promotion Agency of Qatar, said: “We are pleased to strengthen our partnership with Aqarat to support the promotion of Qatar’s vibrant and business-friendly environment, highlight the promising opportunities and competitive advantages the sector offers to investors, and highlight the country’s potential as one of the best global destinations for living, working, and conducting business. This cooperation represents an important step in supporting the national real estate promotion strategy, as the real estate sector is a fundamental pillar in the process of economic diversification, in line with the objectives of the Third National Development Strategy.”