DOHA: The Advisory Council yesterday reviewed a draft law aimed at regulating Qatar’s real estate sector and decided to refer it to a joint committee of legal and legislative affairs, and economic and financial affairs for further study. The committee is to submit a report to the Council.
The proposed law is expected to regulate the process of valuation of real estate in Qatar. Local businessmen believe the proposed law will have a positive impact on many aspects of the real estate sector.
Legal experts say that the proposed law will help regulate the market and encourage property developers to invest in housing projects that are commensurate with the income levels of Qatari nationals. Besides, it will provide unprecedented legal safeguards against risks in terms of time-frames, authentication and many other procedural matters. It will also come as a big boost for long-term investments in real estate, according to an Al Sharq report.
The Peninsula
