Doha: As Qatar positions itself to enhance regulation and transparency in the market, the Real Estate Regulatory Authority (Aqarat) has been active throughout the third quarter of 2024, offering various realty projects and platforms bolstering the growing GDP.
The Chairman of Aqarat, Eng. Khalid bin Ahmed Al Obaidli, met with real estate developers in July to discuss issues and challenges faced in the sector and explore ongoing cooperation in the real estate market.
In September, Aqarat signed a memorandum of understanding (MoU) with Cityscape to launch the second Qatar Real Estate Forum and Cityscape 2024, simultaneously at the Doha Exhibition Convention Center.
The event, which was held under the patronage of H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs, from the 13th until the 15th of October, witnessed the participation of more than 14,000 visitors, 60 exhibitors, and government officials from across the globe.
Aqarat also announced that it will initiate a policy of approving new residential development projects that comply with the new regulations for off-plan sales during Q3 2024.
The first project approved under this new initiative was Barwa Hills in Fox Hills, Lusail.
As the real estate regulatory environment evolves, new investment opportunities will launch in the country. New residential development projects include The Grove in Qetaifan Island by JMJ and Barwa Hills.
Barwa’s next phase of development is expected to be implemented in Fox Hills.
On the other hand, Marina 09 in Marina District is also now offering investors the opportunity to purchase apartments, having previously been available to rent.
The latest Planning and Statistics Authority (PSA) data indicates that the number of real estate sales transactions in the country from January to July 2024, surged by 1.7 percent from the same period in 2023. However, the total number of housing market sales grew significantly by 14.7 percent over the same period.
In line with the Third National Development Strategy, Aqarat this month unveiled strategy of the Real Estate Regulatory Authority, aiming to reinforce Qatar’s position as a leading investment destination by regulating, stimulating and promoting the real estate sector.
The strategy is based on five key pillars: developing a national plan for the real estate sector, activating real estate regulations, enhancing professional standards, delivering advanced digital solutions, and expanding investment opportunities.
