The new laws approved recently by the government, such as allowing expatriates to own real estate properties in Qatar, among others, have solicited “positive sentiment,” according to an official of Informa Markets, the organiser of Cityscape Qatar 2019.
“The positive sentiment has been encouraged by the government’s recent changes to the law allowing expatriates to purchase residential, retail, and office freehold property, which will be a huge stimulus to real estate developers, especially as the country draws closer to the 2022 FIFA World Cup,” said Chris Speller, group director of Cityscape, Informa Markets.
The three-day event, which will run until tomorrow at the Doha Exhibition and Convention Centre (DECC), was inaugurated yesterday by HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari.
The Minister was joined by a delegation of VIPs, including Qatar Airways Group Chief Executive HE Akbar al-Baker and Hamad International Airport (HIA) CEO Badr al-Meer, who visited exhibitors’ stands, including Qetaifan Projects, HIA, Qatari Diar, Msheireb Properties, Barwa Real Estate, and United Development Corporation (UDC).
“There’s undoubtedly been a positive atmosphere today at the exhibition, and the show has seen a buzz of exhibitors, visitors, and real estate professionals eager to find out the latest developments and trends in the market,” Speller said.
Following a recent announcement launching sales for the first phase of Qetaifan Island North, the Qetaifan Projects team was in full force at Cityscape to showcase the master development, which is set to become “the largest entertainment hub in the country.”
“The island’s location and its distinctive waterfront represent a new and exciting way of life that symbolises vision and future ambition, offering its residents an integrated living experience,” said Sheikh Nasser bin Abdulrahman al-Thani, Qetaifan Project managing director and Katara Hospitality deputy chairman.
Qetaifan Island North will serve as a central entertainment and leisure destination for the 2022 FIFA World Cup given its proximity to the Lusail Stadium where the opening and final match of the competition will be held.
Qetaifan Island North spans approximately 1.3mn sq m, a 10th of which will be dedicated to a water park. The island will be filled with family entertainment attractions, distinct neighbourhoods, luxurious hotels, pedestrian friendly streets, gardens, a school and medical centres.
“It will have world-class facilities that make it a modern, globally-competitive community with a unique design that is inspired by the rich culture and nature of the region,” added Sheikh Nasser.
The invite-only Cityscape Qatar Conference will deliver a multi-sector overview of the country’s real estate market, hosting keynote presentations and panel sessions focusing on gross yields within Qatar’s residential sector.
Cityscape Qatar is supported by Official Partner, Qatar Airways; Platinum Exhibition Sponsor, Qetaifan Projects; Gold Exhibition Sponsor, Qatari Diar; Official Strategic Sponsor, Barwa; Conference Sponsor, Parlaklar Group; and Cityscape Talks Sponsor, Savills.
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