Qatar’s Real Estate Regulatory Authority (RERA) is planning to kick start a slew of new strategies to ensure the development of the real estate sector and the transparency of dealings, Invest-Gate reports.

The authority will issue licenses, and supervise and monitor the effectiveness of various activities while encouraging investment in the real estate sector through incentive policies and revitalizing procedures.

Ahmed al-Emadi, director of the Legal Affairs Department at the Ministry of Municipality, says: “The authority will be the umbrella body combining the new strategies and policies meant for real estate development.”

Al-Emadi adds, “The authority will be the umbrella that combines these strategies and a real estate platform that seeks to provide data with transparency and clarity will be established,” highlighting that the platform will be launched early in October over three phases.

The real estate sector in the country makes up 6.5% of the total economy, while the volume of investments in the real estate sector exceeded QAR86 bn in 2022, with an increase of 2.6% compared to 2021.

The first phase will include data and information provided to those concerned. The data will consist of occupancy volumes, deals in different regions, and general information of interest to individuals and investors.

While the second phase will include electronic linking between government agencies, real estate services will be provided and fully activated in the third phase. This phase will take place within a year or two from the platform’s launch.

It is worth noting that the RERA is set to be functional within two months.

In April, Amir Sheikh Tamim issued decision No. 28 of 2023, establishing the public authority for regulating the real estate sector. The authority will work within Qatar’s general policy to organize and stimulate the real estate sector while contributing to the sector’s development.