(MENAFN– The Peninsula)

QNA

Doha: President of the Real estate Regulatory Authority (Aqarat), Khalid bin Ahmad Al Obaidli said the volume of real estate transactions in the State of Qatar was QR 8.16 billion in the first half of 2024, reflecting the increasing strength and attractiveness of the sector.

Addressing a press conference, Al Obaidli said the real estate sector in the State of Qatar witnessed unprecedented growth in 2024, driven by many factors, including achieving a budget surplus of QR 2.6 billion in Q2 of 2024, and a 1.2-percent Y-o-Y increase in the Q3 of 2023, and a four- percent increase compared to Q2 of last year.

He added that the State of Qatar also topped the Global Peace Index (GPI) 2023, for the fifth consecutive year, indicating that all these factors contributed to the increase in the volume of real estate transactions during the first half of this year.

He pointed out that the Aqarat’s responsibility is to maintain this momentum, especially since this thriving sector is an essential element of the economic development scene in the country, and the Authority seeks to further stimulate this vital sector, by encouraging innovation and attracting investments, which lays the foundations for a sustainable and prosperous future.

He added that the Aqarat’s vision is clear and revolves around the precise regulation of the sector and the application of the highest standards of governance, and ensuring that all transactions are based on integrity and transparency, noting in this regard that the regulations it has developed aim to protect the interests of all parties concerned, while promoting sustainable growth in the long term.

Al Obaidli concluded that the position of the State of Qatar as a prestigious global investment destination is a well-known fact and that Qatar offers unparalleled opportunities and world-class infrastructure and supportive business environment to attract more global investments.