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.

سعدت خلال جولتي اليوم في معرض سيتي سكيب قطر 2024، برؤية مشاريع عقارية متنوعة تعكس جزءاً من سياسة الدولة في الاستدامة الاقتصادية، كما استمعت إلى أبرز الفرص والتحديات في هذا القطاع وكيفية تطوير تجربة المستثمر للارتقاء بالمناخ الاستثماري العام في الدولة. pic.twitter.com/xY0mlOZ7al

— محمد بن عبدالرحمن (@MBA_AlThani_) October 14, 2024

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.

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