Bashar Saleh Alsaman
CEO
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The real estate sector in Qatar is considered to be one of the best investment opportunities for both local and foreign investors to invest in with confidence, especially at the current time when the prices of real estate and land have become levelled at fair pricing. This, coupled with a reassuring market and calls for optimism, is supported by the emergence of many very distinguished investment opportunities, in addition to the fact that real estate (especially residential apartments) is considered to be a safe investment for a wide segment of investors. There are a number of reasons to invest in Qatar’s real estate sector, which include:
- Qatar opening its doors to investment in the real estate sector produces a developed business environment for investors and provides all facilities and flexibility for investors.
- The adoption of a new law to regulate non-Qatari ownership of real estate and its accompanying benefits. According to the provisions of the law, non-Qataris may own and benefit from the use of real estate units in pre-specified areas and in accordance with the conditions, controls, and benefits to be determined by a decision of the Council of Ministers, based on the proposal of the Committee for Regulating Non-Qatari Ownership and Use of Real Estate. This has raised the rates of liquidity and foreign investments in the local market, in light of the presence of a surge in non-Qatari investors who are interested in investment in the real estate market, which is a great incentive for them to own and settle in Qatar.
- Hosting the 2022 FIFA World Cup, which gives the real estate sector a strong impetus to attract more investments, which leads to the continuation of positive expectations that carry great investment opportunities for real estate investors, and their participation in the construction process amid a positive reflection of economic activity.
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- The continuous momentum in real estate investment leading to an expected rise in the values and prices of real estate units gives investors a unique opportunity to pump their investments in the real estate sector.
- Qatar has topped the list of the world’s richest countries, in terms of average per capita income, which indicates the high purchasing power in the Qatari market.
- The rise in the real estate price index issued by the Qatar Central Bank indicates the stability of the price level in the real estate market and confirms that the condition of the real estate market in the country is stabilising.
- The high level of local liquidity in the real estate sector, which is constantly improving over time and enhances the momentum of the real estate sector.
- Qatar is host to many international exhibitions and conferences in various countries of the world to attract foreign investment, in addition to various real estate exhibitions in the local market.
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- Increasing the number of malls and commercial complexes in Qatar, the latest of which is the Place Vendome in Lusail, which will open its doors in the first quarter of 2022. These malls and complexes located in vast areas will provide greater and broader options for shoppers in Qatar, and at the same time confirm the attractiveness of the local retail market for high-end brands.
- The population growth in the country has increased the real estate expansion and investments at a significant level. The economic and commercial movement of the country, in line with the objectives of Qatar National Vision 2030.
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Non-Qatari Ownership:
Qatar has set the regulations for non-Qatari ownership and use of real estate in the country, as well as the areas in which non-Qataris may own and use real estate. The new laws also include the advantages and procedures for ownership and use, which are in accordance with a decision issued by the Council of Ministers which showcases Qatar as a prosperous environment for investment.
The Cabinet Resolution No. (28) for the year 2020 defines the areas in which non-Qataris may own and use real estate and the conditions, controls, benefits, and procedures for their ownership and use of real estate so that non-Qatari ownership and use of real estate is in specific areas.
There are nine areas for non-Qatari ownership of real estate, while there are 16 areas for non-Qatari use of real estate, bringing the total areas allocated for real estate ownership and use for non-Qataris to 25. The state, represented by the Ministry of Interior and the Ministry of Justice, have also provided branches in the Pearl and Lusail City to facilitate procedures for investors.
This article was published as part of the seventh edition of Property Finder Qatar’s Trends Report.
