Chairman of Real Estate Regulatory Authority: Several Initiatives Will Soon Be Launched to Boost Real Estate Sector -1-

In his remarks, First Vice-Chairman Mohamed bin Twar Al Kuwari emphasized the significance of the real estate sector as one of the most important economic sectors. He praised the authority’s prompt response to the Chamber’s invitation for this meeting, which aims to address all challenges and obstacles facing the sector and to learn from the private sector’s viewpoints and proposals.

Abdulrahman bin Abduljaleel Al Abdulghani, board member and Chairman of the Real Estate Committee, stressed the Committee’s interest in fostering collaboration with the Authority and all concerned bodies to address all challenges and streamline investments and businesses in the sector.

He affirmed that the Committee would follow up on the outcomes of this meeting as part of its role to enhance collaboration with real estate companies and understand the most important challenges they face, stressing that it acts as a linkage between the government and the private sector.

The meeting addressed numerous challenges facing the real
estate sector and proposals aimed at its development. It highlighted a proposal to organize a local conference to discuss procedures and legislation and to provide recommendations for the advancement of the sector.

During the meeting, several business owners expressed the need for a review of service fees on properties in new cities. They emphasized that these fees were not in the interest of investors and did not contribute to the sector’s development.

In response to inquiries from businessmen, HE Eng. Al Obaidli said that discussions were underway with real estate developers to reconsider service fees. Additionally, he emphasized that the Authority prioritizes attracting foreign investments as well as domestic investments from both citizens and residents by offering them special benefits.

“The Authority is currently preparing to organize the second edition of the real estate conference in October which will be held annually to promote the sector. Further, several field tours will be organized to showcase
investment opportunities in new cities,” he said.

He also emphasized the significance of promoting investment opportunities available in Qatar’s real estate sector to international markets.

Source: Qatar News Agency

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