New real estate financing rules contribute to the sector’s growth

In the context of striving forward for the development of the real estate sector, the Qatar Central Bank (QCB) has graciously set laws and introduced new financial tools to facilitate real estate financing, as it has introduced some amendments to real estate financing regulations, which include setting ceilings for granting real estate financing to Qataris, residents and non-residents.
Eng. Abdullah bin Hamad al-Attiyah, CEO of Qatari Diar praised this important step at this time, stressing the great role that this step will play in developing this sector in the country, and enhancing Qatar's competitiveness in the region with regard to the real estate sector by attracting more investments, whether by citizens or foreigners.
Those who will move more to real estate investment in Qatar, especially since the recent amendments gave them the ability to achieve this without the need for residence, thanking the bank for the efforts it is making in the framework of developing the financial system in Qatar to advance the real estate sector.
Al-Attiyah described these amendments as comprehensive as they succeeded in covering all aspects of the target groups, which will clearly support real estate investment in the coming period, as these laws will allow investors to enter into new real estate projects in Qatar.
Al-Attiyah informed that these amendments meet the requirements of the current stage in the real estate sector without prejudice to the necessary precaution for real estate risks. In addition to the contribution of these amendments to stimulating the financing movement in Qatari banks during this period, they will be able to grant real estate financing to larger groups of investors.
Al-Attiyah noted that the real estate sector in Qatar is one of the fastest growing sectors in the economy. Any development in laws and legislation will inevitably contribute to accelerating the economy, as the real estate sector ranks second after energy, attracting investments exceeding QR82bn during the year 2022.
Qatar also has an infrastructure that is among the best in the world to achieve the welfare and sustainability of the population. Qatar has recently taken a set of initiatives to develop the real estate sector, including allowing free ownership of real estate for non-nationals. In addition, Real Estate Regulatory Authority was established to promote and develop this vital sector and continue developing it in implementation of the state’s policies within the Qatar Vision 2030. It takes into account economic and social development plans and achieving urban development in a balanced manner. It is integrated, in a way that preserves the quality of life and sustainability and contributes to the development of this sector with the aim of finally reaching a future vision for the real estate industry and finding permanent solutions to the challenges facing the real estate sector.