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Posted On: 7 September 2022 04:31 pm
Updated On: 7 September 2022 05:13 pm

Cabinet approves draft Amiri decision to establish General Authority for regulating Real Estate Sector

Vrinda Abilash
Vrinda Abilash
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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:

  • Preparation of a national plan for organizing and stimulating the real estate sector to implement the strategy and general policy regarding this vital sector, taking into account the economic and social development plans of the state, and implementing them after their adoption.
  • Collecting, updating and analyzing data, information and statistics related to organizing and motivating the real estate sector in the country, so that the authority is a main source for accurate data, information and statistics regarding the real estate development sector in the country, in coordination with the competent authorities in the country.
  • Proposing programs and policies that would promote the real estate sector, and providing the concerned authorities with them.

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.

Source: QNA
Cover image credit: Shutterstock