Doha, October 12 (QNA) - The legislative environment in the State of Qatar is important to reinforce the real estate sector and provide investors with reliable data to make informed investment decisions, said Chairman of the Real Estate Regulatory Authority (Aqarat), Khalid Ahmed Saleh Ahmed Al Obaidli.
Al Obaidli was addressing the session on regulatory policies and real estate legislation within the third Qatar Real Estate Forum, convened Sunday in Doha under the motto: "Aqarat's Future".
He stressed that the legislative and legal environment is a core pillar for domestic and foreign investors, highlighting that Aqarat has been seeking to operationalize all legislations in a short period of time following the updates it has conducted, as this action would not have been possible without the energized efforts of partners from ministries and relevant authorities in the State of Qatar.
Aqarat has been exploring integration with chairpersons of Gulf real estate authorities to streamline these legislations for Gulf citizens and investors in all Gulf states, something that would positively impact Gulf communities, Al Obaidli underlined.
Regarding the key tools leveraged by Aqarat to foster transparency in the Qatari real estate sector and ensure the confidence of investors and operators, Al Obaidli elucidated that transparency matters most for all those interested in investing in this sector in order to make informed decisions.
He underscored the importance of having prolific information and data and ensuring easy accessibility to them, stressing that they should be accurate and extracted from reliable sources.
Aqarat has established an AI-powered real estate platform through which it publishes data germane to sales, purchases, and mortgages, expediently offering users direct prices for all accomplished real estate deals by virtue of this AI-powered tool, Al Obaidli highlighted.
Al Obaidli assured that Aqarat strives to have a platform that showcases all data more transparently and unequivocally, placing it directly in the hands of all stakeholders.
Pertaining to urban development in Qatar, along with the equilibrium between the enduring Qatari identity, modernity, and the nation's ambitious future, Al Obaidli pointed out that modern cities in Qatar such as Lusail City, The Pearl Qatar, and Msheireb Downtown Doha have maintained Qatari mores while providing a high quality of life for their population.
On the AI role in the system of real estate registration, evaluation, and governance, Al Obaidli emphasized the importance of keeping up with technological advancements in this sector, noting the existence of some real estate firms that spearhead model studies to leverage cutting-edge technologies in real estate operations.
There is a dedicated real estate technology booth at the forum, and Aqarat backs all startups and small- and medium-sized enterprises to showcase their products; outstanding ventures among them will be adopted by Aqarat, he outlined.
Al Obaidli further affirmed the importance of Gulf integration in this field, indicating that the meeting of GCC Real Estate Authorities on Saturday explored avenues for boosting cooperation, sharing expertise, and operationalizing subsidiary committees to weigh suggestions.
Meanwhile, CEO of the Real Estate General Authority in the Kingdom of Saudi Arabia, Abdullah bin Saud Al Hammad, highlighted that the real estate sector in Saudi Arabia has undergone massive transformations over the past period, foremost among them the legislative reforms in this sector.
The new system allowing non-Saudis to own real estate was also announced, which is one of the most consequential investment pillars in this sector and will take effect in early 2026, Al Hammad pointed out.
Al Hammad stressed that all aspects of this new system have been designed to augment investment targets in general, and real estate investment in Saudi Arabia in particular. He noted that Saudi Arabia offers competitive advantages, assuring that during the upcoming months the executive regulations and geographic scopes enabling this kind of ownership will be declared.
Regarding the next steps toward fostering transparency in the Saudi market, Al Hammad underscored the importance of transparent data with respect to the real estate market, along with the imperative of pursuing transparency when legislative laws are crafted, in terms of text authenticity and clarity in real estate legislation, as well as transparency in real estate disputes and pursuing efficient mechanisms for settling them.
آ  Finally, both officials called upon investors to engage and invest in the domestic Gulf sector and the broader Gulf market amid the prolific, robust, and transparent legislative environment in place. (QNA)