Doha, May 21 (QNA) - HE Minister of Municipality and Chairman of Qatari Diar Real Estate Investment Company Abdullah bin Hamad bin Abdullah Al Attiyah emphasized that real estate remains among resilient economic sectors despite the challenges, considering that understanding local culture and consumer behavior is the basis for successful real estate investment.

During his participation in a high-level panel of discussion entitled "Global Real Estate Horizons: Navigating Growth and Demand" at the Qatar Economic Forum 2025, His Excellency indicated that real estate is not measured solely by quantity, but also by quality and location.

His Excellency considered real estate investment to be viewed as owning a work of art, requiring knowledge of when, where, and how to invest. He added that real estate is affected by the economy, but it remains a means of protecting wealth and hedging against currency fluctuations. He added that Even when interest rates rise, people don't stop living there, which drives growth in the rental market. He emphasized that demand for real estate remains strong despite the challenges.

He pointed to the massive tourism project in the Simaisma area, which includes an entertainment city called the Land of Legends in Qatar.

He pointed out that the IMD World Smart Cities Ranking placed Qatar first in infrastructure, stressing that this constitutes a strong foundation for expanding the tourism sector, particularly family tourism, in line with the country's vision.

HE Minister of Municipality and Chairman of Qatari Diar Real Estate Investment Company addressed the international real estate investment market, saying that capital is available, but it must be directed selectively and thoughtfully. He noted that cross-border investments registered a 57 percent increase in the first quarter of 2025, reflecting investor caution, not a lack of capital.

His Excellency discussed global real estate transaction figures, noting that it showed signs of recovery. The value of transactions in the United States reached $93 billion (up 37 percent), in Europe, the Middle East, and Africa $55 billion (up 41 percent), and in Asia $36 billion, which was up 20 percent compared to 2024.

He highlighted that artificial intelligence represents an exceptional breakthrough, noting that the Middle East is best prepared to invest in it, thanks to the availability of modern infrastructure, the world's cheapest energy, and advanced data systems.

In response to questions from the audience about regional competition in the entertainment and tourism sectors, he stressed that Gulf countries do not view each other as competitors, but rather as a single, integrated system, adding that Gulf states complement each other. He noted that, when they build, they do not create one amusement park next to another. Rather, they look at what has been achieved and build on it. He cited the tourism coordination council, and that all of them benefit from the boom in Saudi Arabia. He also stressed that Dubai was a partner, not a competitor. A tourist visits Qatar, then heads to Dubai or Saudi Arabia, and this was complementary.

He pointed out that Qatar was one of the safest countries in the world, with high-quality schools. Qatar is building on these values ​​to provide a different and safer lifestyle, and this is what Qatar is showcasing in its smart cities.

Concluding his remarks, HE the Minister of Municipality addressed Qatar National Vision 2030, saying that the country's urban intersections are among the most prepared globally for the use of artificial intelligence. He emphasized that the Gulf countries, particularly Qatar, have a unique opportunity to lead the use of artificial intelligence in urban planning and smart cities, enhancing the sustainability of development and accelerating its pace. (QNA)