Yesterday, the General Authority for Regulating the Real Estate Sector “Real Estate” organized by His Excellency Eng. Khaled bin Ahmed Al -Obaidli, Chairman of the Authority, the first real estate council towards an integrated real estate organization, in the presence of several prominent personalities in the real estate sector and a number of bank officials, real estate developers and dignitaries.
The Council discussed the latest updates of real estate legislation, real estate market trends and financing challenges. The stimulation of local and foreign real estate investment has also been discussed, in addition to a number of organizational issues and proposed solutions.
Real estate confirmed on its official account on the social networking site X that the goals of the meeting are to clarify the recommendations of the competent authorities, discuss legal amendments and organizational procedures, and to determine a timetable for following up the procedures.
The General Authority for Regulating the Real Estate Sector «Real Estate» has announced the start of activating the provisions of Law No. (6) of 2014 regarding the regulation of the real estate sector, as part of its efforts to develop the sector and enhance the investment environment in line with the Qatar National Vision 2030.
This step represents a qualitative shift in enhancing transparency, protecting the rights of all parties, organizing the real estate market according to the highest standards, and the initiatives included the launch of the initial registration of real estate developers, the establishment of licensing committees and the resolution of real estate development disputes, and the issuance of instructions for the real estate development warranty account in cooperation with the Qatar Central Bank, with the aim of controlling and organizing the market and ensuring the rights of all parties. To implement the requirements of this law effectively, the authority has created the initial registration of real estate developers and the establishment of the licensing committee, which is concerned with organizing registration and licensing operations according to the highest standards of transparency and discipline. The real estate development disputes committee was also established, to be a specialized platform for a fair and rapid semester in real estate disputes, which enhances confidence between all active parties in the market.
The instructions for establishing a real estate development assurance account were also issued in partnership with the Qatar Central Bank, which obliges real estate developers to open a bank account designated for each project, to ensure the use of buyers ’money exclusively in implementing the project, protecting their rights and enhancing transparency and credibility in real estate transactions.
The decision to issue the decision of His Excellency the Minister of Justice and the Minister of State for Cabinet Affairs relating to the organization of the initial real estate registry and determine its data and procedures and registration fees in it, which will enhance the organization of real estate development and sale projects on the map.