Doha, Qatar — On October 15, 2024, Prime Minister and Minister of Foreign Affairs H.E. Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani attended the 2nd Qatar Real Estate Forum, where he received a comprehensive overview of pivotal real estate development projects showcased by various public agencies and regional developers.
During his visit, Sheikh Mohammed was joined by H.E. Abdullah bin Hamad bin Abdullah Al Attiyah, Minister of Municipality, and Eng. Khalid bin Ahmad Al Obaidli, President of the Real Estate Regulatory Authority (Aqarat), among other distinguished delegates.
The delegation also explored the Big 5 Construct Qatar and INDEX Design Qatar exhibitions, which are key platforms demonstrating innovative advancements in Qatar’s construction and design sectors.
The Prime Minister and accompanying officials participated in a session titled “Real Estate Investment Opportunities,” where panelists emphasized the vital role of government incentives in fostering project growth across Qatar.
Key speakers included Ibrahim Jassim Al Othman, CEO and Board Member of the United Development Company (UDC); Eng. Ali Mohamed Al Ali, CEO of Qatari Diar Real Estate Company; Sheikh Nasser bin Abdul Rahman Al Thani, Chairman and Managing Director of Qateifan Projects; Eng. Ahmad Mohamed Al Tayeb, Group CEO of Barwa Real Estate Company; and Dr. Abdulla Al Mehshadi, CEO of Al Waab.
The officials underscored that the real estate sector is a cornerstone of Qatar’s economic framework, noting a significant rise in demand from both local and international investors following the FIFA World Cup 2022.
Ibrahim Jassim Al Othman pointed out that the real estate market is crucial for contributing to the nation’s GDP, revealing a revenue growth forecast of 5 to 10 percent for the non-oil and non-gas sectors. Despite experiencing a slowdown in construction activity, he noted an uptick in demand during the first quarter of 2023, driven by local investments, although rental prices showed volatility.
Furthermore, a reduction in interest rates is anticipated to attract a broader array of investors to Qatar, providing an accessible entry point for exploring lucrative opportunities, Al Othman stated.
Eng. Ali Mohamed Al Ali emphasized that infrastructure development and initiatives from entities like UDC are essential in drawing diverse investors to Qatar. He reiterated the government’s commitment to facilitating investments and highlighted that Qatar ranks among the fastest-growing economies, boasting a growth rate of 6.2 percent and offering substantial real estate opportunities.
Sheikh Nasser commented on the flourishing tourism sector spurred by investments. He acknowledged the challenges the real estate market faced following the major sporting event in 2022, yet noted that numerous industry projects have opened doors for entrepreneurs to capitalize on emerging opportunities. He praised Qatar’s transparency in the market, which he believes supports the nation’s long-term aspirations.
Eng. Ahmad Mohamed Al Tayeb reflected on the government’s crucial role in addressing market imbalances, emphasizing Barwa’s mission to provide affordable rental opportunities for residents. He affirmed that despite Qatar’s relatively small population, the market remains resilient due to ongoing governmental support and sustained investment inflows.
Dr. Abdulla Al Mehshadi highlighted the promising landscape of Qatar’s market, marked by a wealth of diverse opportunities. He stressed the importance of focusing on revenue generation to facilitate new project development and noted that innovative solutions must be sought by both developers and consumers. He anticipates a surge in demand as fixed interest rates are expected to stabilize in the upcoming year.
This comprehensive briefing underscores the proactive stance of Qatar’s leadership in fostering a vibrant and resilient real estate sector, positioning the nation as an attractive destination for investment and development.
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