DOHA: The General Authority for Regulating the Real Estate Sector – Aqarat held a press conference during which several memorandums of understanding (MoUs) were signed in the presence of Eng. Khalid bin Ahmed Al-Obaidli, Chairman of the Authority.

During the event, several banks were officially approved to implement the real estate development escrow account procedures for off-plan sales projects to protect all stakeholders’ rights.

Eng. Khalid bin Ahmed Al-Obaidli emphasized that these partnerships represent an important step toward achieving the Authority’s vision of regulating and empowering the real estate sector. He stated: “We are working with our partners to build an integrated system that supports sustainable investment and keeps pace with global developments, in a way that serves the national economy and contributes to achieving Qatar National Vision 2030.”

It is worth noting that the General Authority for Regulating the Real Estate Sector oversees the regulation and development of the sector to ensure its transparency and prosperity, in cooperation with relevant entities.

An MoU was signed with Ahli Bank regarding the activation of escrow accounts. Hassan Ahmed Al-Efrangi, CEO of Ahli Bank, stated: “Ahli Bank is proud to be one of the first financial institutions to sign this MoU with the General Authority for Regulating the Real Estate Sector – Aqarat, which reinforces our commitment to supporting Qatar’s economic advancement."

"Implementing escrow accounts for real estate projects under construction is a strategic step toward enhancing investor protection, reinforcing transparency, and promoting regulatory excellence."

Another MoU was signed with Dukhan Bank regarding the activation of escrow accounts. Commenting on the launch of the “Real Estate Development Escrow Account” service, Ahmed Hashem, Acting Group CEO of Dukhan Bank, said: “Our launch of the real estate development escrow account confirms Dukhan Bank’s leadership in adopting financial solutions that serve both the community and the real estate market."

Additionally, the Authority signed an MoU with the Investment Promotion Agency aimed at forming a strategic three-year partnership to promote promising investment opportunities in the real estate sector and highlight Qatar’s competitive advantages to investors. This step supports efforts to attract foreign direct investment and enhance the country’s position as a leading and ideal investment destination.

Commenting on the signing of the MoU, Sheikh Ali bin Walid Al Thani, CEO of the Investment Promotion Agency, said: “We are pleased to strengthen our partnership with Aqarat to promote Qatar’s dynamic and business-friendly environment, and to highlight the promising opportunities and competitive advantages the sector offers investors."

"This cooperation is an important step in supporting the national real estate promotion strategy, as the real estate sector is a key pillar in the journey of economic diversification, in line with the objectives of the Third National Development Strategy,” Sheikh Ali added.

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