Doha: HE Chairman of the Real Estate Regulatory Authority (Aqarat), Eng. Khalid bin Ahmed Al Obaidli, announced that all funds paid for residential units will now be under the direct supervision of the Authority. This development marks a significant step in implementing real estate laws and boosting investor confidence.

According to Qatar News Agency, Al Obaidli highlighted the successful implementation of the escrow account system, which represents a major advancement in the real estate sector by enhancing transparency. During the first banking forum organized by the Authority, he emphasized that this system's oversight would ensure that funds associated with residential units are securely managed.

Further elaborating on the Authority's recent initiatives, Al Obaidli mentioned the approval of the initial bond for all residential units sold off-plan. These units will come under the Authority's license and supervision, ensuring greater accountability and security for investors.

The Chairman also revealed that the Authority's first meeting with banks is part of a broader effort to engage the private sector in stimulating the real estate market. The discussions focused on exploring mechanisms and procedures to incentivize the sector, with bank officials and representatives contributing valuable proposals and information. This collaboration aims to strengthen the real estate market through enhanced cooperation and innovative products.