The Ministry of Justice (MoJ) has opened its real estate registration and authentication office at the Qatar Fiancial Centre (QFC), a leading onshore financial and business centre in the region, paving the way for the real estate investment trusts (REITs) to flourish in Doha's market.
Among an array of other facilities, the office will offer real estate registration and authentication services to investors at the QFC, making it easier for them to access the related services in a timely manner.
The opening of the office builds on both QFC’s and the MoJ’s continuous efforts to support investors during their entire business journey.
"This is a significant step in the development of a more cohesive business ecosystem in Qatar in line with the government’s efforts to make it easier to do business in the country. Main services that will be provided by the office are real estate registration and authentication services to QFC entities. It is such partnerships and integration that stand as a witness to the initiatives of the government to attract and retain investors,” said Nasser al-Taweel, deputy chief executive and chief legal officer, QFC.
The QFC continues to undertake several legal and structural enhancements, together with process improvements, to encourage a broader range of professional and business services firms to be licensed, facilitated by streamlined processes, which has significantly improved the overall applications process, according to him.
With the ability of the QFC entities to own property across the country in line with the applicable laws of Qatar and the relevant QFC regulations, the opening of the MoJ office will indeed facilitate such transactions, he said.
"With REITs expected to flourish in Qatar’s market as investors continue to look into diversifying their portfolios through affordable and low-risk routes with long-term returns, QFC has a unique regime for REITs within its platform. We encourage both local and international entities to use this unique opportunity and start their ventures at QFC. The MoJ office, now open at QFC, will provide vital support along the way,” al-Taweel said.
Saeed Abdullah al-Suwaidi, assistant undersecretary for Real Estate Registration and Authentication Affairs at MoJ, said the inauguration of this office at the QFC comes within its framework strategy to expand its realty registration and authentication offices across the country and in governmental entities to ensure easy access to real estate registration and authentication services, enhancing the country’s attractiveness and business ecosystem.
"This office will serve local and international investors registered at QFC and has been equipped with latest technologies and logistics to facilitate access to integrated legal and business services, including fast and flexible digital services. It follows clearly defined guidelines and regulations for fair and transparent process to help businesses grow and compete in Qatar within a legal system that meets their aspirations and conform to Qatar National Vision 2030," he said.
The MoJ is currently transforming manual operations to comprehensive e-services, without having to visit the Ministry or its service centres, al-Suwaidi said.
This will ensure that applicants visit the ministry only to obtain the legal or real estate documents, which will reflect positively on the quality of services provided at the ministry’s centres and outside offices, he added.
The opening of the office builds on both QFC’s and the MoJ’s continuous efforts to support investors during their entire business journey.
"This is a significant step in the development of a more cohesive business ecosystem in Qatar in line with the government’s efforts to make it easier to do business in the country. Main services that will be provided by the office are real estate registration and authentication services to QFC entities. It is such partnerships and integration that stand as a witness to the initiatives of the government to attract and retain investors,” said Nasser al-Taweel, deputy chief executive and chief legal officer, QFC.
The QFC continues to undertake several legal and structural enhancements, together with process improvements, to encourage a broader range of professional and business services firms to be licensed, facilitated by streamlined processes, which has significantly improved the overall applications process, according to him.
With the ability of the QFC entities to own property across the country in line with the applicable laws of Qatar and the relevant QFC regulations, the opening of the MoJ office will indeed facilitate such transactions, he said.
"With REITs expected to flourish in Qatar’s market as investors continue to look into diversifying their portfolios through affordable and low-risk routes with long-term returns, QFC has a unique regime for REITs within its platform. We encourage both local and international entities to use this unique opportunity and start their ventures at QFC. The MoJ office, now open at QFC, will provide vital support along the way,” al-Taweel said.
Saeed Abdullah al-Suwaidi, assistant undersecretary for Real Estate Registration and Authentication Affairs at MoJ, said the inauguration of this office at the QFC comes within its framework strategy to expand its realty registration and authentication offices across the country and in governmental entities to ensure easy access to real estate registration and authentication services, enhancing the country’s attractiveness and business ecosystem.
"This office will serve local and international investors registered at QFC and has been equipped with latest technologies and logistics to facilitate access to integrated legal and business services, including fast and flexible digital services. It follows clearly defined guidelines and regulations for fair and transparent process to help businesses grow and compete in Qatar within a legal system that meets their aspirations and conform to Qatar National Vision 2030," he said.
The MoJ is currently transforming manual operations to comprehensive e-services, without having to visit the Ministry or its service centres, al-Suwaidi said.
This will ensure that applicants visit the ministry only to obtain the legal or real estate documents, which will reflect positively on the quality of services provided at the ministry’s centres and outside offices, he added.
