Qatar and the GCC countries have the infrastructure most ready to utilise artificial intelligence (AI), noted HE the Minister of Municipality, Abdullah bin Hamad bin Abdullah al-Attiyah.

Speaking at a panel session at the Qatar Economic Forum Wednesday, Attiyah said: "the GCC as a whole has the unique opportunity to lead in smart cities and actual use of AI in urban planning."

“I always believe that the biggest place that can invest in AI is the Middle East, because we are already prepared. We have a very modern infrastructure... we have the cheapest energy in the world... and we have all the infrastructure ready for data centres. But yes, being smart, I totally agree, you need to be flexible, and you can diversify your real estate from offices to apartments, or from databases to energy transition, or to health centres.

Al-Attiyah said: “And it seems that every time we have a global talk, real estate investors’ talk about it... like back in Covid, people were talking about health services and how it is very good to invest in health services.

“And that was just two years ago. Now we are talking about databases because of AI. Honestly, I think in real estate (globally), there are very good opportunities, but it is really picking up from where it was last year. Interest rates are coming down, and I believe they will continue to come down.”

“Obviously, there are some uncertainties. Geopolitical tensions and trade policies will put pressure on it. However, if you don't invest now, when will you then?

Asked whether the neighbouring countries are posing competition to Qatar in developing infrastructure or real estate, al-Attiyah said: “I believe the whole Gulf is one country. We build on each other. Whatever good stuff happening in Saudi Arabia...the big boom and the big investments... we are benefiting from that. One of our biggest batch of tourists come from Saudi Arabia.

“We are working very closely with Dubai as well. We are actually building on each other.”

On Qatar, the minister said: “We are the safest country in the world. In Qatar, we have the best schools. We want to build on that.

“We want a place where your lifestyle will be different, where you can see your children going to schools without the need to go through security. You have been to Qatar... you have been through our new cities...our smart cities... and you know what we have to deliver.”

The minister noted that Qatar National Vision 2030 was built on learning from others.

“We started late, when it comes to the infrastructure game. And that is why I am saying, we have the best infrastructure in the world, because we learned from everyone else. Who do you think were the consultants who built or designed our infrastructure? They are from the US...we had people from Singapore... from the UK. So, everything was put into that.

“That is why I am saying, our infrastructure is the most ready to utilise AI, because we have all the data. AI cannot work without having the data to actually access.”

Al-Attiyah also said the appetite for real estate will always be there.

“While investing in real estate, it is important to note that quality does matter, location does matter. Real estate does go with the economy, but it will always have something that will pays one back. Now that people are getting back to offices, post-Covid, we need good quality new offices... they are in demand globally.

“Real estate is a good place to invest in. There is a saying in Arabic... real estate can get ill, but it will never die!”