*16 usufruct areas valid for 99 years and 9 freehold areas available
*Ownership of commercial units in malls and residential compounds is now allowed in all areas of the country.
Non-Qatari individuals could own properties in nine areas, up from three before, while the number of areas where foreigners may use real estate subject to usufruct has also been increased to 16, bringing the total number of areas designated for ownership and usufruct by non-Qataris to 25, a government statement said.
"Such decision would contribute to the advancement of the Qatari real estate market, the acceleration of the economic development, and the stimulation of the real estate sector," the Ministry of Justice statement said.
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The 16 areas eligible for usufruct
The nine freehold areas
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The Qatar government will also grant residency to owners of property worth at least QR730,000 ($200,000) as well as their families, it said.
The move is in accordance with a decision issued by the Council of Ministers ,within the framework of completing measures taken by Qatar to provide a legislative and legal environment conducive to investment.
Cabinet Resolution No. 28 of 2020 determined the areas in which non-Qataris may own and benefit from real estate, and the terms, conditions, benefits and procedures for their ownership and use.
The Cabinet decision also allows non-Qatari companies to own properties in the 25 areas mentioned.
The Ministry of Justice said in a statement yesterday that the decision has introduced new advantages according to which Qatari and non-Qatari citizens may own a detached unit in one of the residential complexes, and they may also own the detached units (offices and shops) in commercial malls, in other areas, provided that they do not modify the nature, shape or appearance of the unit.
On this occasion, HE the Minister of Justice and Acting Minister of State for Cabinet Affairs, Dr Issa bin Saad al-Jafali al-Nuaimi, stressed the importance of this decision, which supports the government's plans for economic diversification, and the establishment of an integrated legislative system to achieve the goals of Qatar National Vision 2030.
The minister noted that these decisions will make a qualitative leap in the development of the real estate sector in Qatar and enhance its investment attractiveness in the region, in a way that serves the national economy and strengthens the attractive legislative and legal environment that stimulates investors and guarantees them safe and promising investment at the same time.
HE Dr Issa bin Saad al-Jafali al-Nuaimi said with the issuance of Cabinet Resolution No. 28 of 2020, there are 16 usufruct areas valid for a period of 99 years, and 9 freehold areas. It has also become available to Qatari and non-Qatari citizens, residents and non-residents, the right to free ownership of residential units, inside residential complexes and shops inside malls.
Also, real estate investment funds that specialise in real estate investment have also been allowed, and this decision will provide an opportunity that was previously unavailable to middle and limited income citizens to invest in the real estate sector.
The areas that have been designated for ownership and usufruct are typical areas according to the latest global planning and urban specifications, and their planning and design systems have taken into account the latest international real estate specifications, which make them meet the expectations of investors from different countries of the world.
These areas also provide promising real estate investment opportunities to Qatari citizens, whether through partnership or investing in those 25 areas, or through investment funds that will be dedicated to investors. The decision will help stimulate the Qatari real estate market and will push forward economic development as it will increase real estate trading.
Owners of property that is worth no less than QR730,000 ($200,000) will be granted residency for themselves and their family for the duration of their ownership.
The Ministry of Interior and the Ministry of Justice also worked on implementing a new system that allows non-Qataris to obtain their residency as soon as they complete the purchasing.
Owners of property worth no less than QR3,650,000 ($1mn) will get the same benefits of permanent residents in terms of healthcare, education, and some commercial activities. The Ministry of Justice will be the one stop shop for all the related transactions regarding non-Qatari ownership of real estate.
The 16 areas eligible for usufruct are Msheireb, Fareej Abdulaziz, Al Doha Al Jadeeda, Al Ghanim Alateeq, Al Rifa, Al Hitmi Al Ateeq, As Salatah, Bin Mahmoud 22, Bin Mahmoud 23, Roudet Al Khail, Al Mansoura, Bin Dirham, Al Najma, Umm Ghawlina, Al Khulaifat, Al Sadd, Al Mirqab Al Jadeed, Al Nasr, Doha International Airport.
As for the nine freehold areas, they are the West Bay, The Pearl, Al Khor resort, Al Dafna (areas no. 60 and 61), Onaiza, Lusail, Al Kharaej, and Jabal Thuaileb. Ownership of commercial units in malls and residential compounds is now allowed in all areas of the country.
"By allocating these areas as eligible for foreign ownership and investment, Qatar has created attractive opportunities that will benefit both domestic and international investors," said HE the Minister of Commerce and Industry, Ali bin Ahmed al-Kuwari, in a separate statement.
"The changes will also help to grow and strengthen Qatar’s economic development."