Qatar plans to establish new authority for real estate sector

Qatar plans to establish new authority for real estate sector

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The Cabinet of Qatar, chaired by the Prime Minister and Minister of Interior HE Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani, has decided to take the required steps to establish a new authority tasked with regulating and developing the real estate sector.

The decision was made after the Cabinet listened to a presentation by the Minister of Municipality, HE Abdulla bin Abdulaziz bin Turki Al Subaie, on the outcomes of the work of the committee in charge of the real estate sector’s development strategy.

The minister addressed the assessment of the real estate sector’s main challenges and ways to address these challenges by developing a strategy that includes initiatives such as improving the sector’s governance, increasing the availability of real estate data, and stimulating real estate investment during his presentation.

Further, Mr. Al Subaie mentioned the committee’s recommendations, which include the formation of a new authority for real estate development, the development of a digital platform that collects and disseminates real estate data and statistics on the Qatari real estate market, and the formulation of policies in collaboration with the Qatar Central Bank to support individual real estate financing.

According to the reports, “The Cabinet also approved a draft resolution amending some