Doha: In the third session, on the future prospects for the real estate sector in the GCC, as part of the 3rd Qatar Real Estate Forum, which launched Sunday, prominent officials from Qatari and Saudi real estate companies highlighted the transformations witnessed by the real estate sector in Qatar and the region in response to market demands. They also emphasized the sector’s resilience and ability to adapt to changes.
According to Qatar News Agency, HE CEO of SK Properties, Sheikh Jassim bin Jaber Al-Thani, stated during the session that the Qatari real estate sector is solid and strong, offering very high investment returns for investors, ranging from 7 to 9 percent. He pointed to the increasing openness witnessed by the Qatari real estate market, similar to other Gulf markets, especially with regard to foreign ownership. This openness is not only a step towards attracting investment, but also a reflection of a strategic vision aimed at diversifying the economy and enhancing sustainability.
His Excellency noted that in Qatar, recent legislation allows foreign ownership in specific areas, thus enhancing the attractiveness of the real estate market and raising the level of confidence among international investors. He added that this trend aligns with the Qatar National Vision 2030 and is reflected in SK Properties’ projects, which emphasize innovation while preserving Qatari identity.
For his part, HE Chairman and Managing Director of Qetaifan Projects, Sheikh Nasser bin Abdulrahman Al-Thani, indicated that the company’s project responds to the needs of the Qatari market in the tourism sector, especially in light of the demand for this type of project. His Excellency emphasized that technology has contributed to the real estate sector’s adaptation to market requirements and the provision of customized solutions that meet customer expectations. He noted that the company is studying the possibility of entering new projects and new markets.
On another note, CEO of Barwa Real Estate, Eng. Ahmed Mohammed Al Tayeb, discussed the developments the company has witnessed throughout its history in response to market needs and demand in Qatar. He explained that the company currently has an operational real estate portfolio listed in Qatar with total assets exceeding QR 37 billion, distributed across 40 real estate projects across all sectors.
For his part, Chairman of the Board of Sumou Real Estate Company, Ayedh Al Qahtani, emphasized the importance of partnerships and building alliances between companies in the Gulf Cooperation Council (GCC) countries, leveraging their expertise, and raising the level of coordination between the private sector in the Gulf countries, noting that the Gulf market is experiencing a major boom.
Meanwhile, Chairman at Asas Makeen Real Estate Development and Investment Company, Abdulrahman Al Hadlaq, also highlighted the transformations witnessed by the real estate sector in the Kingdom of Saudi Arabia and the role played by relevant authorities in providing facilitation to the sector.