The volume of real estate transactions in Qatar reached QAR8.16 billion ($2.23 billion) in the first half of 2024, reflecting the sector’s growing strength and appeal. Khalid bin Ahmad Al Obaidli, president of the Real Estate Regulatory Authority (Aqarat), made this announcement during a recent press conference, QNA reported.

He noted that the real estate sector in Qatar experienced remarkable growth in 2024, driven by various factors. These include a budget surplus of QAR2.6 billion in Q2 2024 and a year-on-year increase of 1.2 percent in Q3 2023, alongside a four percent rise compared to Q2 of the previous year.

Al Obaidli also highlighted that Qatar ranked first in the Global Peace Index (GPI) 2023 for the fifth consecutive year, suggesting these factors remarkably contributed to the rise in real estate transactions during the first half of this year.

He emphasized Aqarat’s responsibility to sustain this momentum, as the thriving real estate sector is crucial for the country’s economic development. The Authority aims to invigorate this vital sector by fostering innovation and attracting investments, paving the way for a sustainable and prosperous future, he added.

Read more: Doha, Al Rayyan, and Al Wakrah lead Qatar’s $314.47 million real estate growth in July 2024

Al Obaidli reiterated that Aqarat’s vision focuses on effective regulation of the sector, adherence to high standards of governance, and ensuring all transactions are conducted with integrity and transparency. He noted that the regulations established are designed to protect the interests of all stakeholders while promoting long-term sustainable growth.

Moreover, he asserted that Qatar’s status as a prestigious global investment hub is well recognized. The country offers unmatched opportunities, world-class infrastructure, and a supportive business environment to attract international investments.

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