Qatar - Real Estate Regulatory Authority - Aqarat announced Tuesday the start of the implementation of the provisions of Law No 6 of 2014 regarding the regulation of the real estate sector.

This initiative is part of its efforts to develop the sector and enhance the investment environment in line with Qatar National Vision 2030.

Aqarat chairman engineer Khalid bin Ahmed al-Obaidli stressed that this step is considered a significant milestone in promoting transparency, protecting the rights of all the parties, and regulates the real estate market according to the highest standards. The initiatives included the launch of preliminary registration for real estate developers, the establishment of licensing and real estate development dispute resolution committees, and the issuance of instructions for real estate development escrow accounts in collaboration with the Qatar Central Bank.

Al-Obaidli explained that the Authority will begin licensing real estate developers and development projects based on strict criteria to ensure market credibility and efficiency. It will also strengthen oversight to monitor the implementation of projects and ensure developers’ compliance with approved requirements and specifications to protect the rights of all stakeholders.

The conference also saw the signing of strategic memorandums of understanding (MoUs) with JMJ Group Holding and the Commercial Bank, supporting efforts to strengthen public-private partnerships and develop the real estate investment environment.

On this occasion, Sheikh Jaber bin Mansour Jaber al-Thani, owner and chairman of JMJ Group Holding, expressed appreciation for the Authority’s efforts in regulating the real estate sector. He commended the steps taken to establish a sustainable investment environment supported by clear legal systems that foster trust and transparency between developers and investors, contributing to the success of real estate projects that meet community needs.

Sheikh Ali bin Abdullah al-Thani, assistant general manager and head of the Government Sector at the Commercial Bank, said: “In line with our vision to support national development, the Commercial Bank is proud to be the first bank in Qatar to launch the real estate escrow account in collaboration with the Real Estate Regulatory Authority - Aqarat, a step that enhances transparency and trust and drives the real estate sector toward sustainable growth.”

Al-Obaidli reaffirmed the Authority’s full commitment to establishing a fair and transparent investment environment and advancing toward a strong and sustainable real estate sector that supports the state’s aspirations for economic diversification and comprehensive development.

“Together, we are not merely building projects; we are shaping the future of our nation and laying the foundation for a legacy of progress, innovation, and prosperity,” he added.

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