According to a senior official of the Real Estate Regulatory Authority (Aqarat), the amount of real estate transactions in Qatar during the first half of 2024 was QR8.16 billion. This information was released on Sunday.
In a press conference, Aqarat President Khalid bin Ahmad al-Obaidli emphasized that this achievement shows how the nation’s real estate market is becoming more robust and appealing.
Al-Obaidli stated in a speech that several factors, including the QR2.6 billion budget surplus realized in the second quarter of the year, a 1.2% year-over-year increase in Q3 2023, and a 4% increase compared to the second quarter of the previous year, were responsible for the “unprecedented growth” seen by Qatar’s property sector.
Al-Obaidli claims that for the fifth year in a row, Qatar topped the Global Peace Index (GPI) in 2023, demonstrating how all of these elements supported the rise in real estate transactions in the first half of 2024.
Al-Obaidli emphasised that the Aqarat’s responsibility “is to maintain this momentum, especially since this thriving sector is an essential element of the economic development scene in the country” and that the authority “seeks to further stimulate this vital sector by encouraging innovation and attracting investments, which lays the foundations for a sustainable and prosperous future.”
“Aqarat’s vision is clear and revolves around the precise regulation of the sector and the application of the highest standards of governance, and ensuring that all transactions are based on integrity and transparency,” al-Obaidli further explained, noting that the regulations it has developed aim to protect the interests of all parties concerned while promoting sustainable growth in the long term.
Al-Obaidli noted that Qatar’s position as a “prestigious global investment destination” is a “well-known fact,” adding that the country offers “unparalleled opportunities, world-class infrastructure, and a supportive business environment to attract more global investments.”
The signing of the Memorandum of Understanding (MoU) between al-Obaidli and Chris Speller, vice president of Informa Tharawat, for the launch of the “Qatar Real Estate Forum” and “Cityscape 2024,” which are scheduled to take place in Doha from October 13 to October 15, was the event’s main highlight on Sunday.
Al-Obaidli praised His Highness the Amir Sheikh Tamim bin Hamad al-Thani for giving the real estate industry in Qatar top priority. He claimed that significant infrastructure investments and smart legislation have fueled amazing advancements in recent years.
“These initiatives have provided a significant boost in the real estate sector’s contribution to Qatar’s economic growth and development. This MoU represents our commitment to fostering a more dynamic and transparent real estate market, further cementing Qatar’s status as a global investment destination. It is more than just a commercial agreement – it is an open invitation to investors worldwide to join us in shaping a future brimming with opportunities,” al-Obaidli added.
Speller said, “Signing this MoU with Aqarat comes in response to the growing demand in Qatar’s real estate sector. Through this partnership, we aim to create a streamlined pathway for investors to capitalise on the lucrative investment opportunities within real estate projects. Qatar’s world-class infrastructure is not just a source of inspiration. It also elevates the country’s standing as a prime destination for investors.”
To establish itself as a premier event for knowledge sharing, expertise exchange, and exploring future trajectories within the real estate sector, the Qatar Real Estate Forum and Cityscape 2024 will bring together real estate experts and stakeholders from all over the world. Additionally, it will showcase various opportunities within this expanding industry.
With its steady growth and bright future, Qatar’s real estate market is a vital pillar of the country’s economy. Established atop a bedrock of fiscal steadiness and bolstered by a pioneering regulatory structure, the industry has contributed to positioning the nation as a top choice for investors pursuing dependable profits and enduring value generation.
The Third National Development Strategy 2024–2030, which attempts to diversify the national economy and create a top-notch investment climate supportive of company expansion, is in line with this.
