Qatar Cabinet on 7 September 2022 announced the:
1. Approval of a draft Amiri decree establishing the Real Estate Regulatory Authority.
The preparation of the draft resolution comes within the framework of implementing the real estate sector development strategy. This authority aims, within the framework of the state’s general policy, to organize and stimulate the real estate sector, and contribute to its advancement.
In order to achieve its objectives, the authority has the right to exercise a number of tasks and competencies, including:
2. Approval of a draft law amending some provisions of Law No. (6) of 2014 regulating real estate development, and referring it to the Shura Council. The amendment comes within the framework of harmonizing the provisions of the Real Estate Development Regulation Law and the establishment of the Real Estate Regulatory Authority.
The law defines real estate development as the actions carried out by the developer with the aim of disposing of the detached units, and this includes sorting plots and facilities, infrastructure development, design, construction, advertising, marketing, and registration of the units referred to, as the developer defined as every natural or legal person , licensed to engage in real estate development business.
Under the provisions of the project, a special register shall be established in the Licensing Committee called the “Real Estate Developers Register” to register those who are licensed to engage in real estate development work, and a special register called “Real Estate Development Facilities Management and Maintenance Companies Register” to register those licensed to practice these works.
A "Committee called the Licensing Committee" shall also be established in the General Authority for Regulating the Real Estate Sector, which is responsible for issuing real estate development licenses, developer licenses and licenses for companies working in the management and maintenance of real estate under development.
Cover image credit: Shutterstock
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