Qatar Chamber, Saudi Chambers Federation’s real estate committees to boost cooperation

June 9, 2022

Doha: The Qatar Chamber’s (QC) Real Estate Committee held a meeting yesterday with a large delegation of members of the National Real Estate Committee in the Federation of Saudi Chambers at the QC’s headquarters.

The meeting was led by QC Board Member and Chairperson of the Committee Abdulrahman bin Abduljaleel Al Abdulghani and Chairperson of the National Real Estate Committee in the Federation of Saudi Chambers Mohamed Abdulla Al Morshed.

QC Second Vice-Chairman Rashid bin Hamad Al Athba attended the meeting, as well as many members of the committee.

The meeting touched on means to enhance coordination between the two entities, in addition to the investment opportunities in the real estate sector in both countries.

Speaking at the meeting, Al Abdulghani praised the strong relations between Qatar and KSA, noting that these relations constitute a solid foundation for more fruitful cooperation, especially at the level of the private sector which saw significant development over the past year.

He went on to stress that the urban boom witnessed by Qatar and the continuing development of its infrastructure, as well as the mega projects being implemented in the country, have been a cornerstone of the state’s development.

The real estate sector is an important pillar of Qatar National Vision 2030, he noted adding that this stimulates the presence of a sophisticated sector that keeps pace with the country’s development and supports other sectors such as tourism, health, investment, and financial sector.

Underscoring the role played by the QC real estate committee, he said that it discusses obstacles faced by the sector for finding appropriate solutions.

Regarding the committee’s competencies, he pointed out that it reviews the most important issues relating to the real estate sector and mechanisms for improving its business environment, adding that it also coordinates with all competent bodies in the state to address any obstacles facing it.

Abdulghani called on enhancing cooperation between the two committees, stressing that this will contribute to exchange of expertise and knowledge between both sides and reviewing the best practices and experiments in this respect.

He also underscored the QC’s interest to develop cooperation relations between the Qatari private sector and its Saudi counterpart.

On his part, Al Morshed stressed the deep economic relations between Qatar and KSA, and the common desire of both sides to expand mutual investments and joint projects in a way that develops the two countries’ bilateral trade volume.

He also said the real estate sector is the main driver of development in the GCC region, indicating that it is a promising and attractive sector for enterprises, and is linked to other economic sectors.

Al Morshed pointed out that the National Real Estate Committee in the Federation of Saudi Chambers is keen on bolstering cooperation with QC Real Estate Committee, confirming that this meeting constitute a new phase for cooperation between them.

During the meeting, the Investment Promotion Agency delivered a presentation about the investment climate in Qatar and incentives offered by the state, while the Saudi side delivered a presentation about the real estate sector and the most important opportunities available in this sector.

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