Eng. Abdullah bin Hamad Al-Attiyah, CEO of Al-Diyar Company, confirmed that the new real estate financing regulations issued by the Qatar Central Bank support real estate investment in the country. He added that in the context of striving forward for the development of the real estate sector, the Central Bank has developed laws and introduced new financial tools to facilitate real estate financing, as it has introduced some amendments to real estate financing controls, which include setting ceilings for granting real estate financing to Qataris, residents and non-residents.
Al-Attiyah praised this important step at this time, stressing the great role that this sector will play in developing this field 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, who will move more For real estate investment in Qatar, especially since the recent amendments gave them the ability to achieve this without the need to provide residence, and he praised the efforts made by the Central Bank in the framework of developing the financial system in Qatar to advance the real estate sector, describing these amendments as comprehensive, as they succeeded in covering all aspects of the target groups, which Real estate investment will clearly support the coming period, as these laws will allow owners of capital to enter into new real estate projects in Qatar.
Al-Attiyah stressed that these amendments meet the requirements of the current stage in the real estate sector without prejudice to the necessary hedging for real estate risks, in addition to the contribution of these amendments to stimulating the financing movement in Qatari banks during this period, which will be able to grant real estate financing to larger groups of investors.
He pointed out that the real estate sector in Qatar is one of the fastest growing sectors in the economy, and any development in laws and legislation will inevitably contribute to accelerating the wheel of the economy, as the real estate sector ranks second after the energy sector, attracting investments exceeding 82 billion riyals during the year 2022.
