Qatar will now allow foreigners to own properties in more areas

Qatar will now allow foreigners to own properties in more areas

By QLNews

Qatar announced today that the foreigners and foreign firms will be allowed to own real estate in more areas across the country to attract overseas funds as well as to diversify the economy.

A foreign person can now own properties in nine areas whereas before it was only allowed in three areas. However, the number of areas where foreigners could use real estate has also risen to 16.

Foreign firms can also own properties in nine areas, which is a big increase from before as they were only allowed access to real estate ownership within the boundaries of The Pearl Island project in Qatar.

"Such decision would contribute to the advancement of the Qatari real estate market, the acceleration of the economic development, and the stimulation of the real estate sector," the Ministry of Justice said in a statement earlier.

Owners of property that is worth at least QAR 730,000 ($200,000) will be granted residency by the government. Along with the owner, the family will also be granted residency in Qatar.

The owner of the property worth at least QAR 3,650,000 million ($1,000,000) will receive permanent residency benefits which include health care, education, and investment in some commercial activities.

The Minister of Justice and Minister of State for the Council of Ministers Affairs, HE Dr. Issa Bin Saad al-Jafali al-Nuaimi, stressed the importance of this decision to support the government's plans to diversify the economy and establish an integrated legislative system to realize the various social and economic aspects of Qatar National Vision 2030.

Such decisions would make a qualitative shift in developing the real estate sector in Qatar and promoting its investment attractiveness in the region, in a way serving the national economy and promoting an attracting legislative and legal environment that incentivizes investors and simultaneously guarantees them a safe and promising investment that benefits local and foreign investors together with the economy and the real estate sector in the country, he added.

With the issuance of the Council of Ministers’ Decision No. (28) of 2020, Qatar has 16 usufruct areas for a term of 99 years and nine areas for the freehold.

Freehold residential properties are available to citizens, residents, and non-residents within the residential complexes and shops inside the malls.

The real estate sector usufruct right areas for a period of 99 years are:

- Msheireb

- Fereej Abdul Aziz

- New Doha

- Al Ghanim Al Ateeq

- Al Riffa

- Al-Hitmi Al-Atiq

- Al Salata

- Fereej Bin Mahmoud 22

- Fereej Bin Mahmoud 23

- Rawdat Al Khail

- Al Mansoura

- Fereej Bin Dirham

- Najma

- Umm Ghuwailina

- Al Khulaifat

- Al Sadd

- Al Mirqab Al Jadeed

- Fereej Al Nasr

- Doha International Airport area

The areas of freehold ownership covered by in this Decision are: 

- West Bay area (Legtaifiya)

- The Pearl area

- Al Khor Resort

- Al Dafna (Administrative District No. 60)

- Al Dafna (Administrative District No. 61)

-  Onaiza (Administrative District)

- Lusail, Al Kharaij

- Jabal Thuaileb

The Ministry of Interior and the Ministry of Justice have introduced an automated system through which Non-Qataris can obtain residency in Qatar after completing the property ownership procedures.

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Cover Image: For illustrative purposes only
Source: Gulf Times
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