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Mazaya Monthly Real Estate Report -
Week 2 - December 2016
Non-Qataris are allowed to invest in and
own land, buildings, and development
in three specific projects only: the Pearl,
Western Gulf Lake and Al Khor Resort
Project. The report noted that 90% of
direct foreign investments in Qatar are
focused on the Oil and Gas industry
and its subsectors, which account for
52% of the total value of direct foreign
investment in the country. They are
followed by mining investments that
account for 38% of the total value of
direct foreign investment and then
the financial investments at 4%.
In conclusion, the report underlined the
significant role played by freehold real
estate in attracting foreign investments
to the local and international realty
markets, noting that world countries
are sparing no effort to augment the
value of foreign investments, owing to
their high returns and due to the fact
that they are realizable assets that are
readily convertible to cash without
sustaining any losses whatsoever.
The report also called for developing
resilient laws to streamline the foreign
ownership of property in most of
the countries in the region in order
to boost economic diversification
plans, output and competitiveness.
With regards to Bahrain, the report
mentioned that the kingdom has enacted
resilient freehold legislations that reflect
positively on its economic growth.
This has largely been a result of the
Bahraini government’s clear vision and
ambitious plans to strengthen economic
development efforts and create job
opportunities for Bahraini citizens,
providing foreigners with 100%ownership
options in investment havens like Amwaj
Island, Abraj Al Lulu, and Bahrain Pearl.
In the meantime, the report stated that
the freehold laws in Qatar require the
expansion of investment rules and
procedures so as to facilitate freehold
ownership of property by Arab and foreign
investors. That is because the freehold
law, currently in force, only allows full
ownership to GCC citizens, but not others.
The law does, however, provide special
incentives and privileges for long-term
leasing for a period of up to 99-years with
a renewable option for a similar period.