Doha, Qatar: The Ministry of Justice (MoJ) held a meeting with a host of real estate brokers, stakeholders, and sector participants, with the intent of supporting the real estate sector in the State of Qatar and discussing the advancement of the role of real estate brokerage in the development of the sector.
The meeting deliberated on an array of fundamental issues pertaining to estate brokerage licenses, including the mechanism of receiving and renewing the licenses of undertaking real estate brokerage, licensing regulations and the benefits that MoJ is working to provide to real estate brokers, including granting certain offices the authority to finalize and execute contracts.
In addition, the meeting reviewed the MoJ's practical solutions to streamline the procedures of real estate brokerage, and those related to reconciliation in the event of infractions that are referred to real estate courts, highlighting the rules that regulate this sector, with particular emphasis on the importance of the adherence of real estate brokers and developers to laws related to contracts and marketing conditions.
The participants confirmed the importance of updating some laws, such as the powers vested in foreign partners and the conditions for off-plan sales, in sync with the urban development and rapid growth observed in the real estate market.
Concerning accessibility to data, the MoJ underlined the importance of enabling all parties to access essential information more easily, such as reports, and real estate bulletins published on the MoJ's website. Additionally, the participants shared proposals on adding new data that would evidently enhance the role of real estate brokers and lend impetus to this sector in Qatar to keep up with the evolving challenges and opportunities.
Throughout the meeting, HE Undersecretary for the MOJ, Saeed Abdullah Al Suwaidi, emphasized the ministry's commitment to providing support to all relevant entities concerned with advancing the real estate sector in Qatar.
His Excellency praised the level of current partnership between the ministry and the relevant entities at the public level, represented in the Real Estate Regulatory Authority (RERA), and the private sector, affirming that a multitude of facilitations have been provided to senior real estate developers operating in this sector, such as off-plan sales procedures, which are slated to take effect soon, alongside other procedures that are under preparation in coordination with the entities tasked with regulating the sector.
HE Al Suwaidi affirmed that the ministry is constantly working to develop the legal and regulatory framework that achieves equilibrium and fosters sustainability in the real estate sector in Qatar, emphasizing that he is committed to forging cooperation and offering a legal environment that supports all parties, including brokers, developers, and so forth, to ensure the real estate market remains transparent and capable of coping with rapid evolutions.
