Prime Minister briefed about Qatar’s real estate scenario, new projects

Prime Minister briefed about Qatar’s real estate scenario, new projects

QLNews
By QLNews

Qatar’s Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani was briefed on key real estate development projects in the country during his visit to the 2nd Qatar Real Estate Forum on Monday.

Sheikh Mohammed, along with Minister of Municipality HE Abdullah bin Hamad bin Abdullah Al Attiyah, Real Estate Regulatory Authority (Aqarat) President Eng. Khalid bin Ahmad Al Obaidli, and other delegates, toured the Big 5 Construct Qatar and INDEX Design Qatar exhibitions as well.

The top officials attended a session on real Estate Investment Opportunities, where the panellists — United Development Company’s CEO and Member of The Board Ibrahim Jassim Al Othman, Qatari Diar Real Estate Company CEO Eng. Ali Mohamed Al Ali, Qateifan Projects’ Chairman and Managing Director Sheikh Nasser bin Abdul Rahman Al Thani, Barwa Real Estate Company Group CEO Eng. Ahmad Mohamed Al Tayeb and Al Waab CEO Dr Abdulla Al Mehshadi — applauded the Qatari government’s incentives which played a key role in increasing projects in Qatar.

The officials, who said the country’s real estate industry was a key pillar driving the economy forward, said demand had surged following the FIFA World Cup Qatar 2022.

Al Othman said the real estate market played a pivotal role in contributing to the country’s GDP growth, indicating a good revenue of 5 to 10% for non-oil and non-gas sectors.

Although Qatar witnessed a slowdown in constructions, the demand has returned in the first quarter of 2023 due to the investments by citizens. A drop in interest rates is also expected to draw new investors to Qatar, said Al Othman.

“Infrastructure developers are vital components in bringing diverse investors across the world to Qatar. Government incentives are carried out to enable investments and it’s helped a lot. Qatar is one of the world’s fastest-growing economies with a growth rate of 6.2%. It offers many real opportunities,” said Qatari Diar CEO Al Ali.

Qateifan Projects’ Chairman Sheikh Nasser said new investments had led to a tourism boom in Qatar.

“Though the realty sector encountered some challenges after FIFA World Cup Qatar 2022, several new industry projects paved the way for entrepreneurs to explore fresh opportunities. While the market is impacted by the scale of projects, Qatar has very good transparency in this field and is constantly reinforcing the market for future goals,” he said.

Barwa Real Estate CEO Eng. Al Tayeb said the government was a key player in settling imbalances within the market. Despite the country’s smaller population, the Qatari market is standing firm due to the government’s contributions in the sector, he said.

Al Waab CEO Dr. Al Mehshadi felt Qatar offered a promising market due to its diversified opportunities. Al Mehshadi, who said lower interest rates were a good indicator for the market, said fixed interest rates by the next year would witness a demand spike.

---

Make sure to check out our social media to keep track of the latest content. 

Instagram - @qatarliving

X - @qatarliving

Facebook - Qatar Living

YouTube qatarlivingofficial

Log in or register to post comments

More from Qatar Living

Qatar’s top beaches for water sports thrills

Qatar’s top beaches for water sports thrills

Let's dive into the best beaches in Qatar, where you can have a blast with water activities, sports and all around fun times.
Most Useful Apps In Qatar - Part Two

Most Useful Apps In Qatar - Part Two

This guide brings you the top apps that will simplify the use of government services in Qatar.
Most Useful Apps In Qatar - Part One

Most Useful Apps In Qatar - Part One

this guide presents the top must-have Qatar-based apps to help you navigate, dine, explore, access government services, and more in the country.
Winter is coming – Qatar’s seasonal adventures await!

Winter is coming – Qatar’s seasonal adventures await!

Qatar's winter months are brimming with unmissable experiences, from the AFC Asian Cup 2023 to the World Aquatics Championships Doha 2024 and a variety of outdoor adventures and cultural delights.
7 Days of Fun: One-Week Activity Plan for Kids

7 Days of Fun: One-Week Activity Plan for Kids

Stuck with a week-long holiday and bored kids? We've got a one week activity plan for fun, learning, and lasting memories.
Wallet-friendly Mango Sticky Rice restaurants that are delightful on a budget

Wallet-friendly Mango Sticky Rice restaurants that are delightful on a budget

Fasten your seatbelts and get ready for a sweet escape into the world of budget-friendly Mango Sticky Rice that's sure to satisfy both your cravings and your budget!
Places to enjoy Mango Sticky Rice in  high-end elegance

Places to enjoy Mango Sticky Rice in high-end elegance

Delve into a world of culinary luxury as we explore the upmarket hotels and fine dining restaurants serving exquisite Mango Sticky Rice.
Where to celebrate World Vegan Day in Qatar

Where to celebrate World Vegan Day in Qatar

Celebrate World Vegan Day with our list of vegan food outlets offering an array of delectable options, spanning from colorful salads to savory shawarma and indulgent desserts.