Mr. Manea Ibrahim Al-Manea, representative of the private sector and a member of the organizing committee of the first Qatar Real Estate Forum, said that the forum constitutes an important dialogue platform to come up with a vision that will reflect positively on the real estate market, developers and investors.
In exclusive statements to The Arab Weekly on the sidelines of the forum, he added: I am participating in the first edition as a representative of the private sector, and I am loaded with many requests that the real estate market needs. Real estate needs many legislations and procedures and the creation of an appropriate investment environment, pointing out that what was discussed in the forum sessions aims to come up with recommendations and indicators in general and in detail for each field in this sector separately, in a way that helps decision makers and directs urban development processes and investment decisions in the country.
On the representation of the private sector in the forum, Al-Mana said this step reflects the state’s interest and clarifies its strategy to involve the private sector in all fields, including the real estate sector, pointing out that the presence of the private sector is very important in the dialogue sessions, to present and convey challenges and discuss them in order to reach a formula of recommendations that suit the requirements of the real estate market. And thus implementing it in the form of legislation and decisions to achieve real estate sustainability.
Al-Manea touched on the formation of the General Authority for Regulating the Real Estate Sector, which will be in charge of everything related to this large and important sector for the national economy, as it is the second most important sector in the country. He explained that the authority will be a new beginning that serves the real estate market to a large extent, especially as it specializes in preparing the national plan for regulating and stimulating the real estate sector, which includes the strategy and general policy regarding the sector, taking into account the economic and social development plans of the state, and implementing them after their approval.
He added that the authority specializes in collecting, updating and analyzing data, information and statistics related to this sector, proposing programs and policies that will advance the real estate sector, and providing the concerned authorities with them, as well as providing awareness and guidance programs for workers in the real estate sector. Granting licenses for real estate development, licenses for developers, and licenses for companies working in the field of managing and maintaining real estate under development. Organizing real estate development escrow accounts, controlling and supervising them.
The Authority is also responsible for approving the rules governing the practice of the profession of real estate development, selling and renting real estate, real estate appraisal, joint real estate, and other real estate activities. As well as preparing and updating policies and studies to achieve a balance between supply and demand in real estate markets. Organizing training and educational courses and programs with the aim of raising awareness of the regulation of real estate development, conducting and supporting research and studies in this field, and working to benefit from its results.
He explained that the authority expresses its opinion on draft laws related to the real estate sector, regulations and decisions issued by other parties related to the sector, in addition to proposing the amendments it deems necessary in this regard.
