Financial and real estate expert, Mr. Mohamed Hamad Al-shirawi, Chairman of Al-shirawi Investment and Real Estate Development Company, believes that the Cabinet’s decision to specify the locations and areas where non-Qataris are allowed to own properties is a positive step that will stimulate the national economy, activate the local business environment, and support our government’s prudent plans for economic diversification. He emphasized that many countries around the world now offer numerous advantages to real estate investors, such as freehold ownership, the right to usufruct, and various facilities and incentives, including residency for property owners and their families. Examples of such countries include the UK, Turkey, Spain, Cyprus, and many others around the world.
He stated that the foreign property ownership system is an established practice followed by several countries in recent years, and it has proven to be a successful experience. However, it requires controls and standards to govern it, and its proper implementation brings several benefits, including attracting foreign investments to the country, which contributes to driving the economy and achieving the country’s economic growth.
