Qatar Real Estate Forum 2023: Paving the Way for the Future

Qatar’s real estate market is rapidly becoming the country’s second-fastest growing industry, with investments exceeding QAR82 billion.

Recognizing the importance of managing and shaping this sector, the Qatari government organized the ‘Qatar Real Estate Forum‘ from June 4 to 5. This highly anticipated event brought together key figures, industry experts, and government officials from across the Gulf Cooperation Council (GCC) to discuss the future of Qatar’s real estate market and its implications for sustainable development.

The forum commenced with an inaugural address by Qatar’s Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani. Hosted by the Ministry of Municipality and supported by the Ministry of Commerce and Industry, Ministry of Justice, Ministry of Finance, and Qatar Tourism, the event emphasized the government’s commitment to creating regulations and legislation that promote a high quality of life and ensure a sustainable real estate industry.

Qatar’s Minister of Municipality, Abdullah bin Abdulaziz bin Turki Al Subaie Source:website

One of the crucial sessions at the forum focused on future trends in the real estate sector. Qatar’s Minister of Municipality, Dr. Abdullah bin Abdulaziz bin Turki Al-Subaie, shared insights and engaged in discussions with his counterparts from Kuwait and Oman. They highlighted their respective experiences in developing real estate markets that meet international standards and attract foreign investors. Dr. Al-Subaie underscored the importance of laws and regulations in streamlining the market and fostering a transparent business environment.

Qatar Real Estate Forum Panels Source: website

Another noteworthy panel explored real estate sector governance, featuring representatives from various GCC countries. They discussed the issuance of legislation, the relationship between private sector developers and government authorities, and the role of governance in enhancing the investment climate. The panelists emphasized the need for strong regulatory frameworks and transparent practices to ensure the long-term growth and stability of the real estate industry.

The forum also dedicated a session to digital innovation for a sustainable real estate industry. Experts delved into the growing role of technology in various aspects of the sector, including product development, investment, and customer service. They highlighted the opportunities that technology presents and emphasized the importance of leveraging it to create efficient and customer-centric real estate solutions.

H.E. The Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani

Reflecting on the legacy of the 2022 FIFA World Cup, multiple panels examined its implications for the real estate industry. Experts from different sectors, including tourism, hospitality, and real estate development, discussed the positive impact of the World Cup on Qatar’s real estate market. They emphasized that the completion of infrastructure projects by the government lays a strong foundation, and it is now up to the private sector to drive further growth and innovation. The panellists highlighted the attractiveness of Qatar’s real estate market to international investors, citing state-of-the-art healthcare facilities, universities, schools, and tourism attractions as key selling points.

In addition to these discussions, the forum also covered topics such as real estate investment, funding policies and processes, and the future of cities for a better quality of life. Workshops were conducted on mortgage systems, real estate funding, appraisal, project management, and facilities management programs, providing attendees with valuable insights and knowledge.

Photo by Ben Koorengevel

The inaugural edition of the Qatar Real Estate Forum was a resounding success, attracting over 1,500 participants over the two-day event. The forum fostered collaboration, partnership, and knowledge exchange among industry stakeholders. Key takeaways included the importance of a robust legislative framework, transparent business practices, adherence to international standards, and effective redressal mechanisms.

The forum’s launch coincided with the establishment of the Public Authority for Regulating the Real Estate Sector in April 2023. This regulatory body is expected to implement policies that promote sector development and ensure transparency in real estate dealings.

Qatar’s real estate industry is poised for remarkable growth and innovation. The Qatar Real Estate Forum served as a platform to initiate dialogue, share best practices, and shape the future of the sector. With a strong focus on sustainability, transparency, and meeting international standards, Qatar is laying the groundwork for a thriving and resilient real estate market that will contribute to the country’s overall development and prosperity.