Qatar Chamber, Saudi Chambers Federation real estate committees review co-operation ties

Qatar Chamber’s Real Estate Committee held a meeting with a large delegation of the National Real Estate Committee in the Federation of Saudi Chambers at the chamber’s Doha headquarters.
The meeting was led by Qatar Chamber board member and committee chairperson Abdulrahman bin Abduljaleel al-Abdulghani and the chairperson of the National Real Estate Committee in the Federation of Saudi Chambers, Mohamed Abdulla al-Morshed.
Qatar Chamber second vice-chairman Rashid bin Hamad al-Athba attended the meeting, including many members of the committee. The meeting discussed means to enhance coordination between the two entities, in addition to investment opportunities in the real estate sectors of Qatar and Saudi Arabia.
Al-Abdulghani praised the strong relations between Qatar and Saudi Arabia, noting that they constitute a solid foundation for more fruitful cooperation, especially at the level of the private sector, which saw significant development over the past year.
He stressed that the urban development witnessed by Qatar and the continuing progress in terms of infrastructure, as well as the mega projects being implemented in the country, have been a cornerstone of the state’s development march.
The real estate sector is an important pillar of Qatar National Vision 2030, he noted, adding that this stimulates the presence of a sophisticated sector that keeps pace with the development march and supports other sectors such as tourism, health, investment, and financial sector.
Underscoring the role played by Qatar Chamber’s real estate committee, he said it discusses obstacles faced by the sector for finding appropriate solutions. On the committee’s competencies, he said it reviews the most important issues relating to the real estate sector and mechanisms for improving its business environment, adding that it also co-ordinates with all competent bodies in the state to address any obstacles facing it.
Al-Abdulghani called on enhancing co-operation between the two committees, stressing that this will contribute to exchanging of expertise and knowledge between both sides and reviewing the best practices and experiments in this respect. He also underscored the chamber’s interest to develop cooperation relations between the Qatari private sector and its Saudi counterpart.
Al-Morshed lauded the deep economic relations between Qatar and Saudi Arabia, and the common desire of both sides to expand mutual investments and joint projects in a way that develops the two countries’ bilateral trade volume.
He also said the real estate sector is the main driver of development in the GCC region, indicating that it is a promising and attractive sector for enterprises, and is linked to other economic sectors.
Al-Morshed pointed out that the National Real Estate Committee in the Federation of Saudi Chambers is keen on bolstering co-operation with Qatar Chamber’s Real Estate Committee, confirming that the meeting constitutes a new phase for co-operation between them.
During the meeting, the Investment Promotion Agency delivered a presentation on the investment climate in Qatar and incentives offered by the state, while the Saudi side delivered a presentation about their real estate sector and the most important opportunities available.