Eng. Khalid bin Ahmed Al Obaidli, Chairman of the Real Estate Regulatory Authority (Real Estate), revealed that the volume of real estate transactions in the State of Qatar amounted to 8.16 billion riyals during the first half of this year, which reflects the increasing strength and attractiveness of the sector.
The Chairman of the Real Estate Regulatory Authority said, during a press conference held today: “The real estate sector in the State of Qatar witnessed unprecedented growth in 2024, driven by many factors, including achieving a budget surplus of 2.6 billion riyals during the second quarter of this year, and an increase in the gross domestic product by 1.2% year-on-year in the third quarter of 2023, and by 4% compared to the second quarter of last year.”
He explained that the State of Qatar also topped the indicators of the safest countries in the world for the year 2023, for the fifth year in a row, according to the Numbeo Global Database Index for Security and Safety, indicating that all these factors contributed to the increase in the volume of real estate transactions during the first half of this year.
Eng. Al Obaidli pointed out that the responsibility of the Real Estate Regulatory Authority is to maintain this momentum, especially since this thriving sector is a fundamental element of the country’s economic development scene. The Authority seeks to further stimulate this vital sector by encouraging innovation and attracting investments, thus laying the foundations for a sustainable and prosperous future.
He added that the vision of the Real Estate Regulatory Authority 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, noting in this regard that the regulations it has developed aim to protect the interests of all parties concerned, while promoting sustainable growth in the long term.
The Chairman of the Real Estate Regulatory Authority considered that the position of the State of Qatar as a prestigious global investment destination is a well-known fact, but the ambitions of /Aqarat/ do not stop there, as Qatar offers unparalleled opportunities, and with the continued development of its world-class infrastructure and supportive business environment, it is ideally positioned to attract more global investments.
