The CEO of Qatari Diar Real Estate Investment and Development Company Eng. Abdullah bin Hamad Al Attiyah said the State of Qatar is a fertile ground for real estate investment specially that land prices have spiked multiple times, pointing out that Qatar is one of the most secure countries in the world and is politically and economically stable.
During the 2nd session of Qatar Real Estate Forum that was held under the theme of real estates foreseeable future, Eng. Abdullah bin Hamad Al Attiyah revealed that Diar's investments size in 27 countries around the world reaches over USD 60 billion, pointing out that the company focuses on profitability and transformation when it carries out projects which positively affect the place and environment in which the company invests and contributes to changing them for the better.
This sector is the best economic one for any country in the world, he emphasized, adding that the State of Qatar and the rest of world countries generally scramble to attract foreign investments to this sector, because it operates other numerous sectors and offers multiple job opportunities whether in construction or operation phases.
He added that the State of Qatar is like other countries which tries to attract investors and real estate developers through providing a wide range of legislative, tax and infrastructure facilitations, along with free ownership assurances and others. He pointed out that infrastructure in Qatar has been designed to accommodate 5 million people whilst the current number of populations is 2.7 million which implies that it is essential to focus on axes that contribute to driving the number of populations, including the Real Estate ownership law.
Eng. Abdullah bin Hamad Al Attiyah outlined that political stability, separating policy from economy and existential non-bureaucratic system are one of the critical factors for investment abroad. However, this does not imply non-investment in countries that do not have political stability, because those countries have opportunities whose profitability cannot be recompensed, therefore companies never close doors in front of assured profitability, he said.
Unless investors feel that they are protected in the country where they invest this means that investment will be increasingly challenging, he underlined.
He pointed out that real estate is persistently growing and it can slow down but never end, confirming that when people compare real estate prices during the 1980s with the current status, they will discover that prices have been doubled with %500, asserting that hosting the FIFA World Cup Qatar 2022 was the beginning for Qatar but not the end, adding that such a tournament revealed that the State of Qatar is a secure and perfect family place for people to live and invest and the country has been working for future not for the tournament only.
Eng. Al Attiyah added that the tournament was a big challenge and motive for Diar to prove that Lusail City that was implemented by the company had been ready to hold the tournament in a record time, noting that the city is designed to accommodate 450,000 people whose population number has increased with more than %5 compared to the same period of last year, which underscores the substantial growth Lusail is witnessing, whose infrastructure had been connected with public utilities by leveraging the cutting-edge technology.
Source: Qatar News Agency