Qatar to adopt global specifications for real estate soon

Doha, Qatar: Chairman of the Real Estate Regulatory Authority Eng. Khalid Ahmed Saleh Al Obaidli has said the authority will soon launch several initi...

Doha, Qatar: Chairman of the Real Estate Regulatory Authority Eng. Khalid Ahmed Saleh Al Obaidli has said the authority will soon launch several initiatives in collaboration with relevant entities to boost the real estate sector in addition to plans to enhance the legislative framework, emphasising the authority’s commitment to being a catalyst and partner for the private sector.

He noted that the state has implemented mega projects within a short time frame to host international events such as the FIFA World Cup Qatar 2022, affirming that this has helped accelerate the real estate boom in the state.

“One of the most important initiatives to be launched soon is the adoption of international real estate specifications that are commonly used in the leading countries in the real estate sector,” he added.

Speaking at a meeting organised by the Qatar Chamber (QC) recently in the presence of  QC Chairman Sheikh Khalifa bin Jassim Al Thani, and First Vice-Chairman Mohamed bin Twar Al Kuwari, Al Obaidli emphasised the authority’s keenness to learn about challenges facing businessmen and investors in the sector. Regarding the most prominent upcoming projects, Al Obaidli said the authority would soon launch a number of initiatives with various stakeholders and develop the legislative structure, highlighting its commitment to serving as a motivator and partner for the private sector in this regard.

It would also enact soon the Real Estate Development Regulation Law, addressing various challenges. Further, he indicated the Authority would establish a digital platform containing all authenticated information about the state’s real estate market, and it would activate the real estate dispute resolution committees.