Minister of Municipality Launches the Strategy of the General Authority for Regulating the Real Estate Sector
His Excellency Abdullah bin Hamad bin Abdullah Al Attiyah, Minister of Municipality, launched the strategy of the Real Estate Regulatory Authority, which aims to enhance the position of the State of Qatar as an investment destination, by regulating, stimulating and promoting the real estate sector in line with the objectives of the Third National Development Strategy, in the presence of a number of Their Excellencies the Ministers, investors and senior officials in the country.
On this occasion, His Excellency Eng. Khalid bin Ahmed Al Obaidli, Chairman of the Real Estate Regulatory Authority – Real Estate, expressed his happiness at launching the Authority’s strategy, which includes a number of ambitious initiatives, noting that it comes in response to the vision of the wise leadership to diversify sources of income, achieve sustainable development, in addition to providing an attractive environment for investments in the real estate sector.
His Excellency said: “The State of Qatar has exceptional capabilities that make it an ideal destination for all, and a suitable environment for families. Thanks to the advanced infrastructure in the sectors of transportation, communications, and logistics, our country has become the focus of attention from all over the world. And because the real estate sector is one of the main pillars of our national economy, this strategy came to serve as a roadmap to organize and enhance it, in line with Qatar National Vision 2030.”
He added: “The strategy that we are launching today represents a fundamental step towards building a sustainable and comprehensive real estate sector that serves present and future generations. It confirms our commitment to strengthening the position of the State of Qatar as a preferred investment destination, and achieving the aspirations of the wise leadership in creating a competitive environment that attracts investments.”
The new strategy is based on five main pillars: developing the national plan for the real estate sector by setting supportive policies that enhance sustainable development and keep pace with the aspirations of the real estate market locally and internationally, enhancing legislation and enforcing laws by launching the Licensing Committee, creating a real estate development registry to provide transparency in the market, supervising the escrow account initiative, and activating the Dispute Resolution Committee.
The pillars also include professionalizing services by improving the quality of services through governance of the real estate valuation system, establishing a regulatory framework for licensing and classifying practitioners in line with international standards, digital initiatives that aim to simplify procedures through advanced digital platforms, and launching initiatives that support transparency and ease of access to data.
The fifth pillar – Promoting Real Estate Investment – aims to enhance the position of the State of Qatar as a leading investment and family destination by organizing local and international real estate forums and promoting investment opportunities in the country.
