Expert opinion – A real estate regulatory body is required.

The expert, Mohammad Hamad Al-Shirawi, Chairman and CEO of Al-Shirawi Real Estate for Investment and Development, believes that investing in the real estate sector will always remain a safe haven for investors wishing to invest their savings and invest in a stable and profitable investment.

Al-Shirawi stresses that the Qatari real estate market is in dire need of a real estate regulatory authority that looks into the various affairs of the Qatari real estate sector, regulates brokerage work, including buying, selling and displaying, as well as a continuous study of market needs, investment mechanisms, and demographics in different regions (for example: many buildings in “commercial and residential” areas have been developed and are being developed, in different areas that did not take into account the provision of sufficient parking spaces for their residents and customers, which appeared due to the absence of regulation regarding the granting of licenses based on a detailed study of the demographics of those areas and their needs, in addition to regulating the role of real estate developers and appraisers and other matters.

Al-Shirawi added that the greater the volume of government spending on development projects and the mega development of various sectors, the greater the need for residential and commercial spaces that meet the needs of different segments of individuals, companies and institutions. However, there are facts that should not be ignored, such as the scarcity of developed lands, especially commercial ones, the monopoly of the majority of available land and real estate projects, whether residential or commercial, by a certain segment, whether individuals or companies, and the lack of profitable investments currently in new residential cities, and the absence of laws and legislation that oblige owners to develop vacant lands, and the difficulty of obtaining appropriate financing for real estate developers, in addition to the absence of an official body that coordinates the affairs of this sector in the country and manages it in a thoughtful manner based on sound scientific foundations and a future outlook in line with the aspirations and needs of the state.

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