+ A
A -
Tribune News Network
Doha
With the Cabinet further liberalising rules on foreign ownership of real estate in Qatar, now is the time to invest in Qatar, Investment Promotion Agency Qatar (IPA Qatar) said on Tuesday.
As per the Cabinet Decision No 28 of 2020, the number of areas in which international investors can buy or use real estate assets has been increased to 25 areas — non-Qataris can own properties in nine areas while foreigners can use real estate in 16 areas.
Furthermore, the decision introduces the ownership of detached units in residential compounds and shopping malls throughout the country, along with enhanced residency benefits.
The decision is set to open up prospects for promising and high-return investment opportunities that benefit local and foreign investors, while advancing Qatar’s real estate market and contributing to the realization of its national vision for 2030 and beyond, IPA Qatar said.
Qatar is about to witness a paradigm shift in the development of its real estate sector, observed IPA Qatar’s CEO Sheikh Ali Alwaleed Al Thani said
“Not only can investors, residents and non-residents now take advantage of freehold properties in malls and residential complexes across the country, they can also explore strategic investment and partnership opportunities – either directly or through local and foreign real estate investment funds – in an expanded number of areas that follow global planning and urban specifications which meet their aspirations,” he explained.
The CEO also pointed out that the enhanced residency benefits granted through the Cabinet’s decision further enrich Qatar’s overall value proposition for investors. “Now that the permanent residency advantages for owners of properties worth more than $1,000,000 encompass family residency, education, healthcare, and commercial-activity investments, international investors can further pursue their long-term ambitions while living in a place they truly can call home,” he added.
With this decision, Qatar now has 16 usufruct areas with a 99-year term, and nine areas that offer freehold ownership.
The usufruct right areas include Al Sadd, Msheireb, Fereej Bin Mahmoud, Al Mirqab Al Jadeed, Al Mansoura, Al Salata, Old Al Ghanim, Umm Ghuwailina, Doha International Airport area, and New Doha. Freehold property areas include The Pearl-Qatar, Administrative District No. 60 and 61 in Al Dafna, Lusail, West Bay, Onaiza, and Al Khor Resort.
To streamline the process, a fully automated system will be available to investors and real estate companies. The system helps manage the real estate services and procedures covered by the decision – including buying, selling, obtaining concessions, and extracting bonds – via a single point of contact through the Ministry of Justice.
Doha
With the Cabinet further liberalising rules on foreign ownership of real estate in Qatar, now is the time to invest in Qatar, Investment Promotion Agency Qatar (IPA Qatar) said on Tuesday.
As per the Cabinet Decision No 28 of 2020, the number of areas in which international investors can buy or use real estate assets has been increased to 25 areas — non-Qataris can own properties in nine areas while foreigners can use real estate in 16 areas.
Furthermore, the decision introduces the ownership of detached units in residential compounds and shopping malls throughout the country, along with enhanced residency benefits.
The decision is set to open up prospects for promising and high-return investment opportunities that benefit local and foreign investors, while advancing Qatar’s real estate market and contributing to the realization of its national vision for 2030 and beyond, IPA Qatar said.
Qatar is about to witness a paradigm shift in the development of its real estate sector, observed IPA Qatar’s CEO Sheikh Ali Alwaleed Al Thani said
“Not only can investors, residents and non-residents now take advantage of freehold properties in malls and residential complexes across the country, they can also explore strategic investment and partnership opportunities – either directly or through local and foreign real estate investment funds – in an expanded number of areas that follow global planning and urban specifications which meet their aspirations,” he explained.
The CEO also pointed out that the enhanced residency benefits granted through the Cabinet’s decision further enrich Qatar’s overall value proposition for investors. “Now that the permanent residency advantages for owners of properties worth more than $1,000,000 encompass family residency, education, healthcare, and commercial-activity investments, international investors can further pursue their long-term ambitions while living in a place they truly can call home,” he added.
With this decision, Qatar now has 16 usufruct areas with a 99-year term, and nine areas that offer freehold ownership.
The usufruct right areas include Al Sadd, Msheireb, Fereej Bin Mahmoud, Al Mirqab Al Jadeed, Al Mansoura, Al Salata, Old Al Ghanim, Umm Ghuwailina, Doha International Airport area, and New Doha. Freehold property areas include The Pearl-Qatar, Administrative District No. 60 and 61 in Al Dafna, Lusail, West Bay, Onaiza, and Al Khor Resort.
To streamline the process, a fully automated system will be available to investors and real estate companies. The system helps manage the real estate services and procedures covered by the decision – including buying, selling, obtaining concessions, and extracting bonds – via a single point of contact through the Ministry of Justice.
