Latest news with #Aqarat
Zawya
15-05-2025
- Business
- Zawya
Qatar: Aqarat signs deal with Qetaifan Projects for real estate developments
Qatar's Real Estate Regulatory Authority (Aqarat) has signed a memorandum of understanding with Qetaifan Projects, which is one of the first real estate development companies to express its willingness to comply with the requirements for implementing real estate development projects. Qatar's Real Estate Regulatory Authority (Aqarat) has signed a memorandum of understanding (MoU) with Qetaifan Projects, which is one of the first real estate development companies to express its willingness to comply with the requirements for implementing real estate development projects. This step is one of the initiatives emanating from Aqarat's regulatory role in licensing developers and real estate development projects, and promoting the principles of transparency and accountability in the real estate market. Aqarat Chairman Khalid bin Ahmed al-Obaidli noted, 'Today, we value the role of Qetaifan Projects as one of the first companies to sign a Memorandum of Understanding to comply with the requirements for implementing real estate development projects and to adhere to the terms and laws of the Authority. 'This reflects its professional commitment and keenness to co-operate with the Authority in establishing a regulated and transparent real estate environment.' This step represents an exemplary model for strengthening public-private partnerships, achieving the interests of investors, preserving the rights of buyers, and contributing to the development of a sustainable real estate market in line with the country's strategic directions and Qatar National Vision 2030. Qetaifan Projects Chairman and Managing Director Sheikh Nasser bin Abdulrahman al-Thani stated, 'Since the establishment of Qetaifan Projects, we have been committed to following the best international practices in real estate development, based on our belief in the importance of applying standards of transparency and professionalism in all stages of real estate development, from market research to completion. 'Today's signing of the Memorandum of Understanding with the Real Estate Regulatory Authority is the culmination of this approach and reflects our institutional commitment to this sector in a manner that serves the interests of both investors and consumers.' He added, 'We are confident that this co-operation will contribute to establishing greater credibility and transparency in the real estate market, in line with the country's efforts to advance this vital sector and create a successful investment environment that attracts local and international capital.' Aqarat has affirmed its continued efforts to strengthen partnerships with real estate developers to ensure compliance with market laws and regulations. The Authority also continues its efforts to support real estate projects that meet regulatory requirements. 'We call on all developers to emulate these initiatives to ensure a safe and sustainable real estate environment,' Aqarat added. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Zawya
09-05-2025
- Business
- Zawya
Qatar: Aqarat signs MoUs with several entities
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. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
08-05-2025
- Business
- Zawya
Commercial Bank first to introduce Real Estate Escrow account in Qatar in collaboration with ‘Aqarat'
Doha, Qatar: Commercial Bank, a leader in innovative banking solutions, is the first bank in Qatar to introduce Real Estate Escrow accounts in collaboration with the Real Estate Regulatory Authority 'Aqarat'. Real Estate Regulatory Authority 'Aqarat' announced the implementation of Law No. (6) of 2014 on regulating the real estate sector in a press conference. This initiative reaffirms the Authority's commitment to developing the sector and enhancing the real estate investment environment in alignment with Qatar National Vision 2030. His Excellency Engineer Khalid bin Ahmad Al-Obaidli, President of the Real Estate Regulatory Authority, said: 'The establishment of the Real Estate Escrow Account came as a result of the partnership with Qatar Central Bank, which mandates real estate developers to open a dedicated bank account for each project. This ensures that the buyers' funds are exclusively used for the execution of the project, safeguarding their rights and enhancing transparency and credibility in real estate transactions. Moreover, the agreement signed between the authority and the Commercial Bank emphasizes the commencement of the Bank's implementation of the Real Estate Escrow Account system.' Joseph Abraham, Group Chief Executive Officer at Commercial Bank, said: 'Signing the Memorandum of Understanding with the Real Estate Regulatory Authority, Aqarat, marks another milestone in Commercial Bank's continuous efforts in supporting the real estate sector in Qatar. We would like to congratulate Aqarat on this pioneering achievement which will further strengthen and bring strong protection and confidence for all parties in the real estate sector. As we look ahead, we remain committed to our long-term vision and that is providing more accessible, secure, and customer-centric financial solutions for our corporate and personal customers and this escrow account facility is an important step in this direction'. Ali bin Abdulla Al Thani, AGM, Head of Government and Public Sector at Commercial Bank, emphasized: 'At Commercial Bank, we put the Nation's goals at the heart of ours. We are proud to be the first bank in Qatar to offer the Real Estate Escrow account in collaboration with the Real Estate Regulatory Authority (Aqarat), and this is considered a vital step in enhancing transparency, building trust, and driving sustainable growth in Qatar's real estate sector.' Looking ahead, Commercial Bank will continue to support the nation's aspirations for economic diversification and comprehensive development. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Qatar Tribune
07-05-2025
- Business
- Qatar Tribune
CB ties up with Aqarat to launch real estate Escrow accounts
Tribune News Network Doha Commercial Bank, a leader in innovative banking solutions, is the first bank in Qatar to introduce Real Estate Escrow accounts in collaboration with the Real Estate Regulatory Authority (Aqarat). Real Estate Regulatory Authority (Aqarat) announced the implementation of Law No. (6) of 2014 on regulating the real estate sector in a press conference. This initiative reaffirms the Authority's commitment to developing the sector and enhancing the real estate investment environment in alignment with Qatar National Vision 2030. Real Estate Regulatory Authority President Engineer Khalid bin Ahmad Al Obaidli said, 'The establishment of the Real Estate Escrow Account came as a result of the partnership with Qatar Central Bank, which mandates real estate developers to open a dedicated bank account for each project. This ensures that the buyers' funds are exclusively used for the execution of the project, safeguarding their rights and enhancing transparency and credibility in real estate transactions.' 'Moreover, the agreement signed between the authority and the Commercial Bank emphasises the commencement of the bank's implementation of the Real Estate Escrow Account system.' Commercial Bank Group Chief Executive Officer Joseph Abraham said, 'Signing the memorandum of understanding with the Real Estate Regulatory Authority, Aqarat, marks another milestone in Commercial Bank's continuous efforts in supporting the real estate sector in Qatar. We would like to congratulate Aqarat on this pioneering achievement which will further strengthen and bring strong protection and confidence for all parties in the real estate sector. As we look ahead, we remain committed to our long-term vision and that is providing more accessible, secure, and customer-centric financial solutions for our corporate and personal customers and this escrow account facility is an important step in this direction.' Ali bin Abdulla Al Thani, AGM, head of government and public sector at Commercial Bank, said, 'At Commercial Bank, we put the nation's goals at the heart of ours. We are proud to be the first bank in Qatar to offer the Real Estate Escrow account in collaboration with the Real Estate Regulatory Authority (Aqarat), and this is considered a vital step in enhancing transparency, building trust, and driving sustainable growth in Qatar's real estate sector.' Looking ahead, Commercial Bank will continue to support the nation's aspirations for economic diversification and comprehensive development.
Zawya
30-04-2025
- Business
- Zawya
Qatar: Real estate regulation to promote transparency
Qatar - Real Estate Regulatory Authority - Aqarat announced Tuesday the start of the implementation of the provisions of Law No 6 of 2014 regarding the regulation of the real estate sector. This initiative is part of its efforts to develop the sector and enhance the investment environment in line with Qatar National Vision 2030. Aqarat chairman engineer Khalid bin Ahmed al-Obaidli stressed that this step is considered a significant milestone in promoting transparency, protecting the rights of all the parties, and regulates the real estate market according to the highest standards. The initiatives included the launch of preliminary registration for real estate developers, the establishment of licensing and real estate development dispute resolution committees, and the issuance of instructions for real estate development escrow accounts in collaboration with the Qatar Central Bank. Al-Obaidli explained that the Authority will begin licensing real estate developers and development projects based on strict criteria to ensure market credibility and efficiency. It will also strengthen oversight to monitor the implementation of projects and ensure developers' compliance with approved requirements and specifications to protect the rights of all stakeholders. The conference also saw the signing of strategic memorandums of understanding (MoUs) with JMJ Group Holding and the Commercial Bank, supporting efforts to strengthen public-private partnerships and develop the real estate investment environment. On this occasion, Sheikh Jaber bin Mansour Jaber al-Thani, owner and chairman of JMJ Group Holding, expressed appreciation for the Authority's efforts in regulating the real estate sector. He commended the steps taken to establish a sustainable investment environment supported by clear legal systems that foster trust and transparency between developers and investors, contributing to the success of real estate projects that meet community needs. Sheikh Ali bin Abdullah al-Thani, assistant general manager and head of the Government Sector at the Commercial Bank, said: 'In line with our vision to support national development, the Commercial Bank is proud to be the first bank in Qatar to launch the real estate escrow account in collaboration with the Real Estate Regulatory Authority - Aqarat, a step that enhances transparency and trust and drives the real estate sector toward sustainable growth.' Al-Obaidli reaffirmed the Authority's full commitment to establishing a fair and transparent investment environment and advancing toward a strong and sustainable real estate sector that supports the state's aspirations for economic diversification and comprehensive development. 'Together, we are not merely building projects; we are shaping the future of our nation and laying the foundation for a legacy of progress, innovation, and prosperity,' he added. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Doha
