Doha: The General Authority for Regulating the Real Estate Sector (Aqarat) has signed a memorandum of understanding (MoU) with Qetaifan Projects, marking a significant step forward in compliance with the requirements for implementing real estate development projects.
According to Qatar News Agency, this initiative is part of the Authority's efforts to license developers and development projects while promoting transparency and accountability in the real estate market. It follows the Authority's earlier announcement about activating the provisions of Law No. (6) of 2014 on Real Estate Development, along with subsequent amendments.
Chairman of the Authority, Eng. Khalid bin Ahmed Al Obaidli, acknowledged Qetaifan Projects during a press conference, highlighting the company as a pioneer in signing an MoU to meet real estate development requirements. He commended the company's commitment to adhering to the Authority's regulations and laws, noting that this reflects its professionalism and eagerness to cooperate in establishing a well-regulated and transparent real estate environment.
Al Obaidli added that this collaboration underscores the Authority's commitment to building a well-organized real estate market in alignment with Qatar National Vision 2030, which aims to diversify the economy and enhance sustainability. He emphasized the Authority's dedication to developing precise regulatory frameworks that include licensing developers, monitoring projects, and safeguarding the rights of all parties to ensure a stable investment environment.
Sheikh Nasser bin Abdulrahman Al-Thani, Chairman and Managing Director of Qetaifan Projects, stated that the company has adhered to internationally recognized best practices in real estate development since its inception. He highlighted that the MoU signing is a culmination of this approach, reflecting the institutional commitment to serving both investors and consumers.
He also expressed confidence that this cooperation will foster greater credibility and transparency in the real estate market, in line with state efforts to advance the sector and create an attractive investment environment for both local and international capital.
As this development sets a precedent for strengthening public-private partnerships, the General Authority for Regulating the Real Estate Sector reiterated its commitment to expanding partnerships with developers. It stressed the importance of compliance with market laws and regulations and called on all developers to follow these initiatives to ensure a safe and sustainable real estate environment.