Qatar Holds Talks with Developers on Challenges in Property Sector

Property developers

Qatar's real estate regulator has held talks with property developers to discuss challenges facing the sector and plans to tighten oversight, as authorities seek to improve transparency and balance supply and demand in the market.

The Real Estate Regulatory Authority (Aqarat) said the meeting focused on improving the quality of real estate projects and ensuring the availability of accurate and reliable market data.

Officials told developers that no project may be marketed or sold off-plan without first obtaining the required licenses and approvals, warning that this is essential to protect the rights of all parties involved.

The authority outlined its broader strategy to regulate the sector, including licensing developers and registering them in an approved official register, with their details published on Aqarat's platforms. It said the current phase is focused on enforcing legislation and strengthening regulatory oversight to ensure compliance.

Aqarat also said the legal framework governing the real estate sector is now complete, following the activation of several specialist committees and the implementation of escrow accounts for property projects, in coordination with other government bodies.

During the session, officials presented indicators showing notable growth in the real estate market in recent months. However, they highlighted ongoing challenges, particularly a lack of comprehensive data on available property supply. Developers were urged to share information on future projects to support market analysis and informed decision-making.

Participants discussed several regulatory issues, including the importance of a preliminary property ownership register as a first step towards ownership, and linking property-based residency to meeting legal requirements. The authority also showcased its "Real Estate Developer Journey" initiative, which aims to simplify procedures and clarify regulatory pathways for developers.

Other topics included initiatives to promote Qatar as an investment destination, operational challenges in the sector, and ways to improve coordination with service providers.

Speaking at the forum, Director of Legal Affairs at Aqarat, Jassim Abdulrahman Al Derhem, said the authority had begun taking legal action against violators. He confirmed that Aqarat staff have been granted judicial enforcement powers, in coordination with the Public Prosecution, to identify unlicensed activity.

He warned that existing laws provide for strict penalties, including fines and prison sentences, or both, for anyone carrying out real estate development activities or marketing projects without prior approval.

Aqarat said it would continue to hold regular dialogue sessions with developers and investors, as part of efforts to build a well-regulated, transparent and sustainable real estate investment environment in Qatar.

(QNA)