Aqarat Signs MoU with Qetaifan Projects

Doha, May 14 (QNA) - The General Authority for Regulating the Real Estate Sector (Aqarat) has signed a memorandum of understanding (MoU) with Qetaifan Projects, making it one of the first real estate development companies to express readiness to comply with the requirements for implementing real estate development projects.

This move is part of the Authority’s regulatory efforts to license developers and development projects, promote transparency and accountability in the real estate market, and follows the Authority’s earlier announcement regarding the activation of the provisions of Law No. (6) of 2014 on Real Estate Development, along with its amendments.

In this context, Chairman of the Authority Eng. Khalid bin Ahmed Al Obaidli praised Qetaifan Projects during a press conference held today, recognizing the company as one of the pioneers in signing an MoU to comply with real estate development implementation 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.

He added that this cooperation reflects the Authority’s commitment to building a well-organized real estate market aligned with Qatar National Vision 2030, which aims to diversify the economy and enhance sustainability.

He said that the authority have been keen to develop precise regulatory frameworks that include licensing developers, monitoring projects, and protecting the rights of all parties to ensure a safe and stable investment environment. He also affirmed the Authority’s ongoing support for companies and partners who comply with regulatory standards, calling on others to join this effort to build a robust real estate sector that supports the national economy.

For his part, Chairman and Managing Director of Qetaifan Projects Sheikh Nasser bin Abdulrahman Al-Thani said that since the establishment of Qetaifan Projects, we have adhered to internationally recognized best practices in real estate development, driven by the belief in the importance of applying transparency and professionalism throughout all stages of the development process, from market research to project completion.

He added that the signing of today’s MoU with the Authority is a culmination of this approach and reflects the institutional commitment to the real estate sector in a way that serves both investors and consumers.

He also expressed confidence that this cooperation will help establish greater credibility and transparency in the real estate market, in line with the state’s efforts to advance this vital sector and create a successful and attractive investment environment for both local and international capital.

At a time when this step serves as a model for strengthening public-private partnerships in ways that benefit investors, protect buyers' rights, and contribute to a sustainable real estate market aligned with the state’s strategic direction and Qatar National Vision 2030, the General Authority for Regulating the Real Estate Sector reaffirmed its commitment to expanding partnerships with developers.

It emphasized the importance of adherence to the laws and regulations governing the market, continued support for compliant real estate projects, and called on all developers to follow these initiatives to ensure a safe and sustainable real estate environment. (QNA)