Qatar real estate most stable in the region; achieving high growth

DOHA:  A seminar organised by the Ministry of Justice’s Legal and Judicial Studies Centre highlighted the reality of real estate brokerage in the country, with a focus on the legal provisions regulating it.

It was attended by representatives of a number of competent authorities, stakeholders and those interested in the real estate market.

The seminar reviewed the legal provisions regulating real estate brokerage in the light of the new law No. 22 of 2017 and the executive procedures accompanying the development of the brokerage profession, as well as the control of the real estate market, including the strict conditions and controls introduced by the new real estate brokerage law No. 22 of 2017 to control real estate market and prevent it from intruders. Director of the Legal and Judicial Studies Centre, Fatima Abdulaziz Bilal, said that the reality of the Qatari economy and the growing real estate sector requires the presence of specialised real estate companies working to achieve balance in the real estate market and to be an honest broker in the sale or purchase operations, especially with the increase of the construction sector in the country.

She pointed out that the real estate market in Qatar is one of the most stable real estate markets in the region and is achieving high growth rates, referring to the measures taken by the State to develop the brokerage work to strengthen the real estate market.

The Director of the Legal and Judicial Studies Centre said that the legislator issued the real estate brokerage law No. 22 of 2017 to give a new impetus to the real estate market, through restructuring the market by organising the work of real estate agents and setting up a mechanism and controls for practicing real estate brokerage in the country. It also established the real estate brokers committee in the Ministry of Justice.

Acting Director of the Real Estate Brokerage Department at the Ministry of Justice, Khalid Hassan Al Mehshadi, reviewed the new Qatari real estate brokerage law and its role in restoring confidence in the profession of real estate brokerage and organising the profession both for brokers and owners of real estate offices or dealers.

Sulaiman Abdullah Al Dulaijan, a Kuwaiti real estate expert and real estate consultant, spoke about the importance of real estate brokerage as an integral part of the real estate market regulation tools and controlling its work in a precise and organised manner, in addition to the general economic interest of the state to maximise the benefit of this sector and increase its revenues to the national economy.

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