Doha, October 12 (QNA) - Director of Licensing and Training Affairs at the Real Estate Regulatory Authority (Aqarat), Mubarak Mahboub Al Nuaimi confirmed the Authority's success in electronically integrating the procedures of more than eight government ministries into a unified digital system.

This system simplifies the process of real estate ownership into just three steps, significantly facilitating the journey for real estate investors.

Speaking during the session titled "Advancing the Real Estate Ecosystem in Qatar: Regulation and Transformation", held as part of the third edition of the Qatar Real Estate Forum, which kicked off today, Al Nuaimi noted that this streamlined process can be completed within one week - with aspirations to reduce that to just a few days in the near future.

He urged real estate developers to collaborate with the Authority in implementing electronic contracts, ownership transfers, and issuing preliminary title deeds that enable investors to obtain residency through property ownership.

He emphasized that all real estate projects in the country are licensed, guaranteed, and supervised by the Authority, and that the procedures are carried out in a smooth and flexible manner.

Al Nuaimi stressed the importance of advancing the real estate sector through regulatory frameworks and digital transformation, in line with the pillars of Qatar National Vision 2030.

This vision centers around adopting modern investment methods, leveraging artificial intelligence for the development of smart and sustainable real estate, and streamlining regulatory procedures.

He highlighted that Qatar's real estate sector is progressing at a strong pace, aligned with national goals for sustainable development, digital transformation, and economic diversification.

The Real Estate Regulatory Authority has succeeded in unifying government efforts to support investors by providing centralized access to data and incentives through a single platform.

The investment process begins with submitting an application and obtaining a preliminary title deed, followed by completing the remaining steps through a one-stop platform - including issuing the deed that qualifies the investor for residency.

Al Nuaimi also pointed out that Qatar's position on the global real estate investment map is supported by modern planning for smart cities, world-class heritage projects, competitive returns, an advanced legislative and regulatory environment, and a forward-looking vision for real estate investment.

This vision is based on three main pillars: innovation and use of technology, integration of services, and a stable, attractive investment environment.

In a different context, Head of Strategy and Partnerships at the Real Estate General Authority (REGA) in the Kingdom of Saudi Arabia, Ziyad Al-Shammari presented the Kingdom's Vision 2030 and the Authority's strategy to build a dynamic and attractive real estate sector based on trust and innovation.

As the regulatory body of the real estate market, REGA aims to improve market efficiency, enhance governance, serve stakeholders, and ensure the sector's sustainability.

During the session titled "Saudi Arabia's Experience in Real Estate Tech Legislation and Regulatory Environment", Al-Shammari outlined the Authority's core responsibilities, including proposing laws, regulations, and policies related to real estate activities, licensing and supervising those activities, providing training, and encouraging investment.

He noted that REGA's strategy includes 15 priorities, 15 initiatives, and 22 key performance indicators - all aimed at creating a vibrant, trustworthy, and innovative Saudi real estate sector.

Also participating in the forum, CEO of the National Real Estate Registration Services Company (Real Estate Registry) in Saudi Arabia, Dr. Mohammed bin Hamad Al-Sulaiman discussed the country's real estate investment process.

He highlighted that the company has gained significant experience over the years and is currently working to improve post-registration transactions through technical integration with over 25 entities - including financial, legislative, regulatory, and operational bodies such as real estate developers.

Dr. Al-Sulaiman concluded by acknowledging the challenges faced in registering multiple properties, stating that these were overcome through collaborative efforts with relevant authorities.

He called for stronger cooperation among GCC countries through electronic integration between institutions and regulatory bodies in the real estate sector to streamline procedures for investors seeking property ownership across the region. (QNA)