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Tribune News Network
Doha
A decision was issued on the executive procedures of Law No. 16 of 2018 on the regulation of non-Qatari ownership and use of real estate in Qatar on Tuesday.
In a press statement, Minister of Justice and Acting Minister of State for Cabinet Affairs HE Dr Issa bin Saad al Jafali al Nuaimi said Cabinet's approval of the Council of Ministers decision to identify areas and places where non-Qataris are allowed to own and use real estate was continuation of the projects and objectives of the Qatar National Vision 2030, reflecting the country's vision promoting the values of coexistence among different peoples and cultures.
Under the provisions of this law, non-Qataris can own and use real estate in many areas as per conditions determined by a decision of the Council of Ministers on the proposal of the Committee for the Regulation of Ownership and Use of Property for Non-Qataris.
As per the law, non-Qataris can invest in offices, shops, units and villas in residential complexes, real estate development of land in specified areas, not limited to apartments and residential units.
“The law is expected to benefit the Qatari economy and it will enhance the attractiveness of Qatar’s real estate investment,” he said.
The ministerial decision opens promising prospects for citizens to enter into strategic investment partnerships that will benefit various groups of society, including small investors that will be able to invest in the real estate market through investment funds. The law allows freehold ownership in 10 strategic areas with guaranteed investment returns. These areas have recently been developed within the framework of the state's urban plan.
The areas for free ownership are West Bay (Qatifiya), Pearl, Al Khor Resort, Al Qassar area (administrative area), Al Dafna (administrative area), Onaiza (administrative area), Luasil, Khuraij, Jabal Thaileb and Rawdat Al Shahaniya (Investment Zone).
These areas can guarantee 100% return on investment and will represent a new investment model not only in Qatar, but also in the region. These areas encourage capital development and promote cultural co-existence among developers, owners and investors.
Citizens and residents will benefit from the advantages offered by ownership and use of real estate by non-Qataris in these areas because of flexibility and ease of transactions. Qatar is proud to have the latest legal and legislative system that allows freehold ownership according to the latest international standards.
The statement said 16 areas have been identified for the ownership of the real estate for non-Qataris for 99 years.
These areas are Musheireb, Fereej Abdul Aziz, Doha Jadeed, Old Ghanem, Riffaa, Old Al Hatmi, Salta, Fereej Bin Mahmoud 22, Fereej Bin Mahmoud 23, Rawadat Al Khail, Mansoura, Fereej Bin Dirham, Najma, Umm Ghuwailina, Al Khalifat, Al Sadd, Al Mirqab Al Jadeed and Fereej al Nasr, Airport area.
The draft law increases chances for Qatari citizens to benefit from development opportunities through direct and indirect investment. The law provides an opportunity for non-Qatari investors and foreign companies to invest in the real estate sector in Qatar without exception. Qatar is counting on this decision to strengthen its position in economic openness, ease of doing business, growth and investment attractiveness.
The Minister said the draft law introduced a new advantage of granting residency to non-Qataris by ownership of property provided its value is not less than $200,000. The residency is valid for the duration of the ownership of the property.
Within the framework of investment facilities that comply with the new legislation in Qatar, all services and procedures for the purchase and issuance of bonds and access to privileges related to these real estate services will be provided through a single window.
He said the areas selected for non-Qatari ownership of properties are considered to be tourist and economic areas or strategically located areas (central Doha or suburbs overlooking strategic ports and facilities such as Hamad Port and Hamad International Airport). These areas are characterised by the presence of comprehensive infrastructure and modern facilities, including bridges and metro stations.
He said the advantages of the draft resolution is that the owner of the property, whose value is not less than $1 million, can be exempted from some of the conditions to secure permanent residency, where the benefits include access to treatment and education in government institutions, and investment in some activities of the sectors of the national economy that are determined by a decision of the Council of Ministers.
Doha
A decision was issued on the executive procedures of Law No. 16 of 2018 on the regulation of non-Qatari ownership and use of real estate in Qatar on Tuesday.
In a press statement, Minister of Justice and Acting Minister of State for Cabinet Affairs HE Dr Issa bin Saad al Jafali al Nuaimi said Cabinet's approval of the Council of Ministers decision to identify areas and places where non-Qataris are allowed to own and use real estate was continuation of the projects and objectives of the Qatar National Vision 2030, reflecting the country's vision promoting the values of coexistence among different peoples and cultures.
Under the provisions of this law, non-Qataris can own and use real estate in many areas as per conditions determined by a decision of the Council of Ministers on the proposal of the Committee for the Regulation of Ownership and Use of Property for Non-Qataris.
As per the law, non-Qataris can invest in offices, shops, units and villas in residential complexes, real estate development of land in specified areas, not limited to apartments and residential units.
“The law is expected to benefit the Qatari economy and it will enhance the attractiveness of Qatar’s real estate investment,” he said.
The ministerial decision opens promising prospects for citizens to enter into strategic investment partnerships that will benefit various groups of society, including small investors that will be able to invest in the real estate market through investment funds. The law allows freehold ownership in 10 strategic areas with guaranteed investment returns. These areas have recently been developed within the framework of the state's urban plan.
The areas for free ownership are West Bay (Qatifiya), Pearl, Al Khor Resort, Al Qassar area (administrative area), Al Dafna (administrative area), Onaiza (administrative area), Luasil, Khuraij, Jabal Thaileb and Rawdat Al Shahaniya (Investment Zone).
These areas can guarantee 100% return on investment and will represent a new investment model not only in Qatar, but also in the region. These areas encourage capital development and promote cultural co-existence among developers, owners and investors.
Citizens and residents will benefit from the advantages offered by ownership and use of real estate by non-Qataris in these areas because of flexibility and ease of transactions. Qatar is proud to have the latest legal and legislative system that allows freehold ownership according to the latest international standards.
The statement said 16 areas have been identified for the ownership of the real estate for non-Qataris for 99 years.
These areas are Musheireb, Fereej Abdul Aziz, Doha Jadeed, Old Ghanem, Riffaa, Old Al Hatmi, Salta, Fereej Bin Mahmoud 22, Fereej Bin Mahmoud 23, Rawadat Al Khail, Mansoura, Fereej Bin Dirham, Najma, Umm Ghuwailina, Al Khalifat, Al Sadd, Al Mirqab Al Jadeed and Fereej al Nasr, Airport area.
The draft law increases chances for Qatari citizens to benefit from development opportunities through direct and indirect investment. The law provides an opportunity for non-Qatari investors and foreign companies to invest in the real estate sector in Qatar without exception. Qatar is counting on this decision to strengthen its position in economic openness, ease of doing business, growth and investment attractiveness.
The Minister said the draft law introduced a new advantage of granting residency to non-Qataris by ownership of property provided its value is not less than $200,000. The residency is valid for the duration of the ownership of the property.
Within the framework of investment facilities that comply with the new legislation in Qatar, all services and procedures for the purchase and issuance of bonds and access to privileges related to these real estate services will be provided through a single window.
He said the areas selected for non-Qatari ownership of properties are considered to be tourist and economic areas or strategically located areas (central Doha or suburbs overlooking strategic ports and facilities such as Hamad Port and Hamad International Airport). These areas are characterised by the presence of comprehensive infrastructure and modern facilities, including bridges and metro stations.
He said the advantages of the draft resolution is that the owner of the property, whose value is not less than $1 million, can be exempted from some of the conditions to secure permanent residency, where the benefits include access to treatment and education in government institutions, and investment in some activities of the sectors of the national economy that are determined by a decision of the Council of Ministers.
