Areas for Non-Qatari property ownership announced

Areas for Non-Qatari property ownership announced

Qatar Living
By Qatar Living

Last week Qatar’s Council of Ministers gave its approval to identify areas and places where non-Qataris could own real estate, moving a step closer to making the dream of many expatriates come true.

Now, the country has made its decision regarding designated areas for non-Qatari property ownership, reported Gulf Times.

Under the executive procedures of Law No. 16 of 2018 on regulation of non-Qatari ownership and use of real estate, expatriates in Qatar can now freely own property in 10 areas with 16 others designated for real estate use for 99 years.

According to the law, non-Qataris can invest in offices, shops, units and villas in residential complexes, real estate development of land in the allotted areas, not limited to apartment and residential units, according to Qatar Tribune.

The ownership and use of real estate will be based on certain conditions determined by a decision of the Council of Ministers based on a proposal developed by the Committee for the Regulation of Ownership and use of Property for Non-Qataris.

In an interview with Qatar TV, His Excellency the Minister of Justice and Acting Minister of State for Cabinet Affairs Dr Issa bin Saad Al Jafali Al Nuaimi announced the areas, which have been determined for freehold non-Qatari property ownership.

These areas comprise: West Bay (Area 66), The Pearl-Qatar (66), Al Khor Resort (74), Rawdat Al Jahaniyah (investment area), Al Qassar (administrative area 60), Al Dafna (administrative area 61), Onaiza (administrative area 63), Al Wasail (69), Al Khraij (69) and Jabal Theyleeb (69).

This decision brings a new investment model in view, offering 100% guaranteed return on investment.

The innovative investment program is the first of its kind not only in Qatar but also in the region and in the world as the areas combine capital development and promote cultural co-existence between developers, owners, and investors in these areas, given its architectural symbolism that merges different world cultures, according to a statement from the minister, reported by The Peninsula.

Residents and citizens of Qatar will enjoy a number of benefits under this model as the new procedures are designed with full flexibility and facilitate transactions in line with the rules defined by the law. These are flexible and transparent controls that are built considering the latest successful experiences in the field of ownership and use of real estate. 

The areas where non-Qataris can use real estate for 99 years are: Msheireb (Area 13), Fereej Abdelaziz (14), Doha Al Jadeed (15), New Al Ghanim (16), Al Refaa and Old Al Hitmi (17), Aslata (18), Fereej Bin Mahmoud (22), Fereej Bin Mahmoud (23), Rawdat Al Khail (24), Mansoura and Fereej Bin Dirham (25), Najma (26), Umm Ghuwailina (27), Al Khulaifat (28), Al Sadd (38), Al Mirqab Al Jadeed and Fereej Al Nasr (39) and the Doha International Airport area (48). 

The areas were selected by the Cabinet at its meeting last Wednesday. 

Previously only non-Qatari individuals were allowed to own real estate in the country, whether for 99-year use or on free ownership basis. However, the new law and its regulations bestow this privilege also on non-Qatari companies in addition to real estate investment funds, whether these have been established within or outside Qatar, HE the Minister is reported to have said in his interview with Qatar TV.

Aligned with the rules and regulations determined by the Ministry of Municipality and Environment, expatriates in the country can own two types of real estate: offices and shops inside commercial complexes, and residential villas inside residential complexes.

HE Dr Al Nuaimi further mentioned that under the new conditions, owners of real estate valued at a minimum of $200,000 will be issued permanent residency cards for as long as they own the property.

For other expatriates, the residency cards are issued for five years, which is renewable, in accordance with Law No 21 of 2015 regulating the Entry, Exit and Residence of Expatriates.

HE the Minister underlined that these new regulations will reflect positively on the country, Qataris, non-Qataris and the national economy.

The modern ideas that Qatar is taking the lead in are aimed to push forward economic development in the country, making Qatar a global investment destination. 

What are your thought on this story? Let us know in the comments below!
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Cover Image Credit: admirablejourneys.com 
By jassim siddiqi• 23 Mar 2019 12:59
jassim siddiqi

Hey can someone tell how can we buy property in Qatar, which ministry do we have to go to ? and what is the process ?

By chat_paki• 20 Mar 2019 10:17
chat_paki

Good Scheme for Business investments..........

By Molten Metal• 20 Mar 2019 09:49
Molten Metal

99 Years is a goo period for a man make progress in his life ...

Wed, 20.03.2019, 09.53 hrs.

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